TeamTech Formwork Solutions Ltd

The scrip was listed at Rs 75, a 19.05% premium to the initial public offer (IPO) price. The stock is currently down 7.93% over its listing price. The counter hit a high of Rs 76.80 and a low of Rs 71.25. About 21.40 lakh shares of the company changed hands at the counter. Teamtech Formwork Solutions' IPO was subscribed 4.71 times. The issue opened for bidding on 19 May 2026 and closed on 21 May 2026. The price band of the IPO was fixed between Rs 61 and Rs 63 per equity share. The IPO comprised fresh issue of 79,60,000 equity shares. The company intends to utilize the net proceeds for funding of capital expenditure towards purchase of plant and machineries for new manufacturing unit, repayment/prepayment of all or certain borrowings availed by the company, to meet the working capital requirements and general corporate purposes. Ahead of the IPO, Teamtech Formwork Solutions, on 18 May 2026, raised Rs 14.27 crore from anchor investors. The board allotted 22.66 lakh shares at Rs 63 per share to 9 anchor investors. Teamtech Formwork Solutions manufactures, refurbishes and rents modular and customised formwork systems used in construction projects. These temporary structures support and shape concrete until it gains sufficient strength. Along with manufacturing new systems, the company also provides refurbishment services, customised design solutions, technical support and rental offerings to help customers reduce capital costs and extend product life. As of 31 March 2026, the company had a total of 100 employees. The company recorded revenue from operations of Rs 53.66 crore and net profit of Rs 11.59 crore for the period ended 31 March 2026. Powered by Capital Market - Live