Teamtech Formwork Solutions IPO is a book-built issue IPO, aiming to raise ₹50.15 crore. The issue consists entirely of a fresh issue of 79.60 lakh equity shares. The bidding window was open from May 19, 2026, to May 21, 2026, with the IPO allotment expected to be finalised on May 22, 2026. Teamtech Formwork Solutions is scheduled to list on NSE SME on May 26, 2026.
The IPO was priced at ₹61-₹63 per share with a lot size of 2,000 shares. The public issue received bids for 3,71,26,000 shares against 52,94,000 shares available, resulting in an overall subscription of 7.01 times. NIIs led the response, subscribing 12.79 times their quota, followed by retail investors at 6.10 times.
Teamtech Formwork Solutions’ ₹50.15 crore IPO, priced at ₹61-₹63 per share, was subscribed 7.01 times overall. The IPO is entirely a fresh issue of 79.60 lakh equity shares.
Bidding took place from May 19 to May 21, 2026, with the Teamtech Formwork Solutions IPO allotment status expected on May 22, 2026. Retail investors subscribed 6.10 times and NIIs subscribed 12.79 times, while listing is expected on May 26, 2026.
The table below breaks down the Teamtech Formwork Solutions IPO share allocation for different categories, highlighting the number of shares and their percentage of the total issue. However, the key focus remains on the quotas allocated to retail investors and HNIs, as they are the most relevant for individual investors.
| Investor Category | Shares Offered |
| QIB Shares Offered | 3778000 |
| − Anchor Investor Shares Offered | 2266000 |
| − QIB (Ex. Anchor) Shares Offered | 1512000 |
| NII (HNI) Shares Offered | 1134000 |
| − bNII > ₹10L | 756000 |
| − sNII < ₹10L | 378000 |
| Retail Shares Offered | 2648000 |
| Market Maker Shares Offered | 400000 |
| Total Shares Offered | 7960000 |
Data Source: NSE
| Category | Subscription (times) |
| Qualified Institutional Buyers | 4.28 |
| Non-Institutional Investors | 12.79 |
| Retail Individual Investors | 6.1 |
| Total Shares | 7.01 |
Note: The subscription details are as of May 21, 2026
Teamtech Formwork Solutions Limited was incorporated in November 2018 and operates on a business-to-business (B2B) model. The company is engaged in the manufacturing, refurbishment, and rental of modular T-formwork and customised formwork systems for the construction industry. Its offerings are designed to support various concrete structure applications across infrastructure and construction projects.
The company’s product portfolio includes standard panels, customised panels, and formwork accessories along with supporting components that together form a complete modular formwork system. Teamtech Formwork Solutions also provides customised design, engineering, technical support, refurbishment, and rental solutions for vertical concrete structures such as walls, shafts, tanks, bridges, foundations, and circular walls.
Teamtech Formwork Solutions operates a 20,000 sq. ft. in-house manufacturing and refurbishment facility located in Bollaram, Telangana. The facility is equipped with laser and plywood cutting machinery and supported by specialised formwork planning software used for project design, panel estimation, and operational planning. This infrastructure supports the company’s ability to deliver customised and efficient solutions to its customers.
As of March 31, 2026, the company had 100 employees working across administration, engineering, operations, research and development, logistics, finance, sales, and management departments. Teamtech Formwork Solutions is led by promoters Eldo Varghese, Chaitanya Prakash Kotagiri, and Salinraj Kunnummal, and focuses on strengthening its market position through engineering capabilities, integrated operations, and long-term customer relationships.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: May 21, 2026, 6:02 PM IST
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