Teamtech Formwork Solutions shares off to a solid start, list at 19% premium over IPO price on NSE SME
Teamtech Formwork Solutions shares opened at ₹75 today compared with its initial public offering (IPO) price of ₹63, recording a listing pop of ₹12 or 19.05%.
Teamtech Formwork Solutions IPO listing: Shares of Teamtech Formwork Solutions listed at a massive over 19% premium on the NSE SME platform on Tuesday, 26 May, beating estimates.
Teamtech Formwork Solutions shares opened at ₹75 today compared with its initial public offering (IPO) price of ₹63, recording a listing pop of ₹12 or 19.05%. Soon after listing, the SME stock was trading at ₹72.30 as of 10.06 am, down 3% from the listing price.
The listing was better-than-estimates as signalled by the grey market premium (GMP). Ahead of the debut, Teamtech Formwork Solutions IPO GMP was ₹5, suggesting a listing gain of almost 8%.
Teamtech Formwork Solutions IPO Details
The offer received a solid response from investors during the book-building process, garnering bids at 5.29 times. The qualified institutional buyer (QIB) segment was subscribed 2.52 times, the non-institutional investor (NII) quota was booked 12.78 times, and the retail segment received 6.04 times bids.
Teamtech Formwork Solutions IPO was open for bidding from 19 to 21 May. It was entirely a fresh issue of 0.80 crore shares, looking to raise ₹50.15 crore at the upper end of the price band of ₹61 to ₹63 per share. Investors could apply for the offer in lots of 2,000 shares, with retail investors required to apply for at least two lots amounting to ₹2,52,000.
The company plans to use the proceeds from the issue for the purchase of plant and machinery for the new manufacturing unit, repayment of certain borrowings availed by the company, meeting working capital needs and general corporate purposes.
Teamtech Formwork Solutions operates on a business-to-business (B2B) model, manufacturing, refurbishing, and renting modular T-formwork and customised formwork systems for the construction industry.
Headquartered in Hyderabad, the company's products include modular T-formwork systems, customised panels and supporting components used for vertical concrete structures such as walls, bridges, tanks, foundations and shafts. It also provides modular T-formwork systems with customised design, engineering, technical support, refurbishment, and rental solutions for vertical concrete structures.
GetFive Advisors acted as the book-running lead manager, and KFin Technologies was the registrar of the issue.
Disclaimer: This story is for educational purposes only. We advise investors to check with certified experts before making any investment decisions.
About the Author
Saloni Goel has over nine years of experience as a business journalist, with a strong track record of covering the financial markets. Over the course of her career, she has reported extensively on global and domestic equities, IPO market activity, commodities, and broader macroeconomic trends. Her reporting reflects a keen eye for detail, data-driven analysis, and the ability to spot emerging themes early.<br> At Mint, Saloni has been part of the markets team for nearly two years, where she currently works as Chief Content Producer. In this role, she plays a key part in shaping market coverage, driving editorial strategy, and ensuring timely, accurate, and insightful reporting across. She has been closely involved in breaking news coverage and in crafting stories that help decode the complex financial developments.<br> Before joining Mint, Saloni worked with some of India’s leading business newsrooms, including The Economic Times and Business Standard. Throughout her career, she has worn multiple hats—ranging from reporting and editing to contributing in-depth features and identifying new storytelling formats and market trends.<br> Her experience in fast-paced digital newsrooms has given her an edge in simplifying complex market concepts without losing analytical depth. Outside of work, Saloni enjoys reading books and spending time with her pet.
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