Teamtech Formwork Solutions IPO- Company Analysis
Teamtech Formwork Solutions IPO under the SME IPO category is a bookbuild issue of Rs. 50.15 Cr by Teamtech Formwork Solutions Limited and operates on a business-to-business (B2B) basis, producing, repairing, and leasing customized formwork systems and modular T-formwork for the construction sector.
Standard panels, customized panels, and formwork accessories and supporting components are all part of the company's product line, which, combined, provide a comprehensive modular formwork system for a range of construction needs.
For vertical concrete constructions, including walls, shafts, tanks, bridges, foundations, and circular walls, the firm offers modular T-formwork systems with customized design, engineering, technical support, refurbishment, and rental options.
Teamtech Formwork Solutions IPO Details
The Teamtech Formwork Solutions IPO date of opening is 19 May 2026, its initial public offering will end on 21 May, IPO allotment on May 22 and refund initiation on May 25, 2026.
The Rs. 50.15 crore new SME IPO comprises a wholly fresh issue of 0.80 Cr shares.
The Teamtech Formwork Solutions IPO listing date (expected) might be on Tuesday, May 26, 2026, and listing at the NSE and SME.
The Teamtech Formwork Solutions IPO price band is Rs. 61 to Rs. 63.
IPO Timetable (Tentative)
|
Events |
Date |
|
IPO Opening Date |
May 19, 2026 |
|
IPO Closing Date |
May 21, 2026 |
|
IPO Allotment Date |
May 22, 2026 |
|
Refund Initiation |
May 25, 2026 |
|
IPO Listing Date |
May 26, 2026 |
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Company Financials
(Amount in Cr)
|
Particulars |
31 Mar 2026 |
31 Mar 2025 |
31 Mar 2024 |
|
Assets |
66.75 |
40.00 |
24.96 |
|
Total Income |
54.23 |
32.98 |
30.31 |
|
Profit After Tax |
11.59 |
7.84 |
7.69 |
|
EBITDA |
17.50 |
9.24 |
9.11 |
|
Net Worth |
33.22 |
21.63 |
13.79 |
|
Reserves and Surplus |
22.21 |
19.07 |
11.23 |
|
Total Borrowing |
16.68 |
11.10 |
3.64 |
Cash Flows
(Amount in lac)
|
Net Cash Flow |
31 Mar 2026 |
31 Mar 2025 |
31 Mar 2024 |
|
Net Cash Flow Operating Activities |
275.83 |
570.80 |
366.21 |
|
Net Cash Flow Investing Activities |
(738.79) |
(1,243.63) |
(319.67) |
|
Net Cash Flow Financing Activities |
451.04 |
682.73 |
(45.53) |
Revenue Bifurcation
(Rs. in Lac)
(Source: RHP)
The Objective of the Issue
The company desires to use the Net Proceeds from the Issue to fulfill its following goals:
-
Funding of Capital Expenditure towards the purchase of Plant and Machinery for the new manufacturing unit. ~ Rs. 11.92 Cr.
-
Repayment/prepayment of all or certain of the borrowings availed by your company. ~ Rs. 15.50 Cr.
-
To meet the working capital requirements. ~ Rs. 13.77 Cr.
-
General Corporate Purposes.
Listed Peers of Teamtech Formwork Solutions Ltd.
No listed peer of a similar size is engaged in the same lines of business as mentioned in the RHP.
Valuation
|
KPI |
Value (Mar 31, 2025) |
|
ROE |
42.26% |
|
ROCE |
40.92% |
|
Debt/Equity |
0.50 |
|
RoNW |
34.89% |
|
PAT Margin |
21.60% |
|
EBITDA Margin |
32.61% |
Evaluation of P/E Ratio
Considering the period ended on FY 2025 with an EPS of Rs. 3.56 from the last year, the resulting P/E ratio is 17.69x.
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IPO's Strengths
-
Experienced Management Team.
-
Integrated Business Model.
-
Strong Engineering and Technical Capabilities.
-
Established Manufacturing and Refurbishment Infrastructure.
IPO's Weaknesses
-
Promoter Conflict of Interest Risk.
-
Raw Material & Inventory Management Risk.
-
Related Party & Governance Risk.
Teamtech Formwork Solutions IPO GMP (Grey Market Premium)
Teamtech Formwork Solutions IPO GMP today has not started yet as of 15 May 2026, while writing this information.
Teamtech Formwork Solutions IPO Summary
|
IPO Opening & Closing Date |
19 May, 2026 to 21 May, 2026 |
|
Face Value |
Rs. 5 per Share |
|
Issue Price |
Rs. 61 to Rs. 63 per Share. |
|
Lot Size |
2000 Shares |
|
Issue Size |
79,60,000 Shares (Rs. 50 Cr) |
|
Offer for Sale |
- |
|
Fresh Issue |
75,60,000 Shares (Rs. 48 Cr) |
|
Listing at |
NSE, SME |
|
Issue Type |
Bookbuild issue IPO |
|
Registrar |
Kfin Technologies Ltd. |
IPO Lot Details
Retail investors can invest in a minimum and maximum of 2 Lots (4000 Shares) for Rs. 2,52,000, and in multiples thereof, while HNI investors can invest in a minimum of 3 Lots (6000 Shares) for Rs. 3,78,000.
|
Minimum Lot Investment (Retail) |
2 Lots |
|
Maximum Lot Investment (Retail) |
2 Lots |
|
HNI (Min) |
3 Lots |
Teamtech Formwork Solutions IPO Allotment Status
To check the Teamtech Formwork Solutions IPO Allotment Status, visit the official Registrar’s website or BSE website. Below are the website links for you.
Using BSE Website - BSE IPO allotment status
Promoters And Management of Teamtech Formwork Solutions Ltd.
-
Eldo Varghese
-
Chaitanya Prakash Kotagiri
-
Salinraj Kunnummal.
|
Pre-Issue Promoter Shareholding |
81.25% |
|
Post-Issue Promoter Shareholding |
- |
IPO Lead Managers
GetFive Advisors Pvt. Ltd.
Dividend Policy
The company has paid a dividend of Rs. 1 during the FY24.
Conclusion
Teamtech Formwork Solutions IPO is a SME book-built IPO of around ₹50.15 crore, opening on 19 May 2026 and closing on 21 May 2026, with a price band of ₹61–₹63 per share and expected listing on NSE SME on 26 May 2026.
The company works in customized formwork systems and modular T-formwork for the construction sector, and its FY2025 financials show ₹54.23 crore total income, ₹11.59 crore PAT, ₹17.50 crore EBITDA, and ₹33.22 crore net worth.
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Finowings IPO Analysis
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