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TEAMTECH · NSE · construction industry
Teamtech Formwork Solutions IPO listed on 26 May 2026 on NSE at ₹75.00, a gain of 19.05% over the issue price of ₹63.00. The IPO was subscribed 6.73x overall.
Teamtech Formwork Solutions IPO tentative timeline covering IPO opening, closing, basis of allotment, refunds, demat credit, and listing dates.
| Event | Date |
|---|---|
| IPO Open Date | 19 May 2026 |
| IPO Close Date | 21 May 2026 |
| Basis of Allotment | 22 May 2026 |
| Initiation of Refunds | 25 May 2026 |
| Credit of Shares to Demat | 25 May 2026 |
| Listing Date | 26 May 2026 |
Listing day gain
+19.05%
Listed at ₹75 (issue ₹63)
Issue
₹63
Listing
₹75
Current
₹72.75
+15.48% vs issue
Day range
₹71.25 – ₹76.8
Issue Size
7,960,000 shares
(aggregating up to ₹50.00 Cr)
Issue Price
₹61 – ₹63
Face Value
₹5/share
Market Lot
2,000 shares
Retail Min Investment
₹252,000
Listing At
NSE
Sale Type
fresh issue
Fresh Issue
7,960,000 shares
(aggregating up to ₹50 Cr)
Offer for Sale
[.]
Reserved for Market Maker
400,000 shares
(aggregating up to ₹3.00 Cr)
Issue Type
book building
Open Date
19 May
Close Date
21 May
Allotment
22 May
Listing
26 May
Last updated: 4 months ago
| Date | IPO Issue Price (₹) | GMP (₹) | Est. Listing Price (₹) | Est. Profit Amount (₹) | Est. Profit % | Last Updated |
|---|---|---|---|---|---|---|
| 25 May 2026 Latest | ₹63 | ₹5 | ₹68 | ₹5 |
7.94%
|
11:35 AM |
| 24 May 2026 | ₹63 | ₹5 | ₹68 | ₹5 |
7.94%
|
12:31 PM |
Showing the 2 most recent GMP entries.
View full GMP historyLatest snapshot: 21 May 2026
| Category | Subscribed (x) | No. of Applications |
|---|---|---|
| QIB | 3.61x | 19 |
| NII | 13.15x | 1,196 |
| bNII (bids above ₹10L) | 15.6x | 689 |
| sNII (bids below ₹10L) | 8.24x | 507 |
| Individual Investors | 6.1x | 4,035 |
| Total | 6.73x | 6,446 |
Showing the latest subscription snapshot.
View full subscription historyThe promoters of the Company are Eldo Varghese, Chaitanya Prakash Kotagiri, Salinraj Kunnummal.
New to lot sizes and investment limits? Read our guide on IPO lot size and minimum investment.
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 4,000 | ₹252,000 |
| Retail (Max) | 2 | 4,000 | ₹252,000 |
| S-HNI (Min) | 3 | 6,000 | ₹378,000 |
| S-HNI (Max) | 7 | 14,000 | ₹882,000 |
| B-HNI (Min) | 8 | 16,000 | ₹1,008,000 |
Want to understand how IPO shares are divided between investor categories? Read our guide on IPO reservation structure.
| Category | Shares Offered |
|---|---|
| QIB Shares Offered | 3,778,000 (47.46%) |
|
•
Anchor Investor Shares Offered
|
2,266,000 (28.47%) |
|
•
QIB (Ex. Anchor) Shares Offered
|
1,512,000 (18.99%) |
| NII (HNI) Shares Offered | 1,134,000 (14.25%) |
| Individual Investors Shares Offered | 2,648,000 (33.27%) |
| Market Maker Shares Offered | 400,000 (5.02%) |
| Total Shares Offered | 7,960,000 (100.00%) |
Teamtech Formwork Solutions Limited is a Hyderabad-based company that makes, rents, and refurbishes modular formwork systems for the construction industry. Founded in November 2018 by Salinraj Kunnummal, Chaitanya Prakash Kotagiri, and Eldo Varghese — three professionals with over three decades of combined experience in formwork — the company set out to replace India's traditional timber shuttering with more efficient, reusable systems.
The core product is modular formwork built from non-corrosive steel and birch plywood. Construction companies can either buy it outright or rent it for shorter projects, which makes it accessible for firms that don't want to commit capital to equipment they'll only use once or twice. TeamTech also has an in-house design team that plans formwork placement and movement based on structural drawings, and their own software to help clients use the inventory efficiently.
The numbers have been moving in the right direction — FY2023 saw revenue grow nearly 72% and profits up over 280%. By FY2025, revenue stood at ₹32.98 crores. The company has about 58 employees and operates out of Hyderabad with warehouse facilities near Vijayawada.
Standalone · ₹ in Crores
| Particulars | FY 2024 | FY 2025 |
|---|---|---|
| Total Revenue | 30.31 | 32.98 |
| Profit After Tax (PAT) | 7.69 | 7.84 |
| EBITDA | 9.11 | 9.24 |
| Total Assets | 24.96 | 40 |
| Net Worth | 13.79 | 21.63 |
| Reserves & Surplus | 11.23 | 19.07 |
| Total Borrowing | 3.64 | 11.1 |
Revenue & Profit Trend
The basis of allotment for Teamtech Formwork Solutions IPO was finalised on 22 May 2026. You can check your allotment status using your PAN number or application number on the KFin Technologies Limited portal or BSE.
The Teamtech Formwork Solutions IPO is expected to open in May 2026, subject to SEBI approval. Final dates will be updated once announced officially.
The price band for Teamtech Formwork Solutions IPO is ₹61.00 - ₹63.00 per share.
As per market sources, Teamtech Formwork Solutions IPO GMP is currently ₹5.00. GMP is tracked daily in the grey market. GMP indicates unofficial demand but does not guarantee listing gains.
The subscription status for Teamtech Formwork Solutions IPO stands at 6.73x overall.
The listing date for Teamtech Formwork Solutions IPO is 26 May 2026.
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