Teamtech Formwork Solutions IPO
Teamtech Formwork Solutions Limited · Construction Equipment
- Price band
- To be announcedNot in this filing
- Issue size
- 79,60,000 sharesFresh issue · amount set with price
- Face value
- ₹5per equity share
- Lot size
- To be announcedMin. investment shown once set
- Anchor biddingMon, 2026
- OpensTue, 2026
- ClosesThu, 2026
- AllotmentMon, 2026Refunds and Demat credit same day
- ListingTue, 2026
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue
- Fresh issue
- 79,60,000 shares
- Offer for sale
- None
- Total issue
- 79,60,000 shares
- Market maker portion
- 4,00,000 shares
- Face value
- ₹5
- Listing at
- NSE Emerge
- RHP date
- 11 May 2026
Source: Red Herring Prospectus dated 11 May 2026Updated
Reservation
Share of the total issue- Retail33.3%
- Anchor28.5%
- QIB ex-anchor19.0%
- NII14.2%
- Market maker5.0%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 26,48,000 | 35.03% | 35% |
| Non-institutional investors (NII) | 11,34,000 | 15.00% | 15% |
| Qualified institutional buyers (QIB) | 37,78,000 | 49.97% | 50% |
| QIB, excluding anchor | 15,12,000 | 20.00% | — |
| Anchor investors | 22,66,000 | 29.97% | — |
| Market maker | 4,00,000 | — | — |
Source: Red Herring Prospectus dated 11 May 2026Updated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
FY 2025-26- EPS (basic)
- ₹5.26
- RoNW
- 34.89%
- NAV per share
- ₹15.09
- Debt to equity
- 0.50
- EBITDA margin
- 32.61%
- PAT margin
- 21.60%
- ROCE
- 40.92%
P/E and market cap are calculated once the price band is announced.
Source: Red Herring Prospectus dated 11 May 2026Updated
Financials
Standalone, restated · ₹ crore| Period ended | 31 Mar 2026FY 2025-26 | 31 Mar 2025FY 2024-25 | 31 Mar 2024FY 2023-24 |
|---|---|---|---|
| Revenue from operations | 53.66 | 32.71 | 30.30 |
| Total income | 54.23 | 32.98 | 30.31 |
| EBITDA | 17.50 | 9.24 | 9.11 |
| Profit after tax | 11.59 | 7.84 | 7.69 |
| Net worth | 33.22 | 21.63 | 13.79 |
| Reserves and surplus | 22.21 | 19.07 | 11.23 |
| Total assets | 66.75 | 40.00 | 24.96 |
| Total borrowing | 16.68 | 11.10 | 3.64 |
FY 2025-26 vs FY 2024-25: revenue +64.1%, profit after tax +47.9%.
Source: Red Herring Prospectus dated 11 May 2026Updated
About the company
The company makes modular T-formwork panels and customised formwork systems used to shape and support concrete in construction. It also refurbishes used formwork and rents formwork systems to customers so they can avoid capital expenditure. It sells on a business-to-business basis.
- Incorporated
- 2018
- Industry
- Construction Equipment
- CIN
- U29190TG2018PLC128233
- Website
- teamtechengg.com
Source: Red Herring Prospectus dated 11 May 2026Updated
Promoters and shareholders
| Name | Type | Before issue | After issue |
|---|---|---|---|
| Salinraj Kunnummal | Promoter | 34.38% | — |
| Eldo Varghese | Promoter | 34.38% | — |
| Chaitanya Prakash Kotagiri | Promoter | 10.93% | — |
| Meena P P | Promoter group | 0.78% | — |
| Reena Varghese | Promoter group | 0.78% | — |
| Aswani Lemati | Promoter group | 0.00% | — |
| Varughese George | Public | 18.75% | — |
Source: Red Herring Prospectus dated 11 May 2026Updated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Capital expenditure on plant and machinery for the new manufacturing unit | 11.92 |
| Repayment or prepayment of certain borrowings | 15.50 |
| Working capital requirements | 13.77 |
| General corporate purposes | Set with price |
Source: Red Herring Prospectus dated 11 May 2026Updated
Strengths and risks
Our summary of what the offer document statesStrengths
- Offers a full cycle of formwork services: manufacturing, refurbishment and rental.
- Revenue and profit grew over the three years shown in the restated financials.
- Net worth rose sharply over the period, supported by retained profits.
- Has an in-house engineering team offering customised designs and technical support.
- Plans to expand capacity to ease production bottlenecks identified in an engineer's certificate.
Risks
- A large share of revenue comes from a few customers, with the top five at about 72.65% in FY 2025-26.
- A promoter group entity in the same business is a major customer and competitor, with a planned wind-down.
- Premises for the registered office and some warehouses are leased or licensed on short renewable terms.
- Revenue depends heavily on standard panels, with demand tied to construction activity.
- Operating cash flow was negative in some years, and borrowings rose in FY 2025-26.
Source: Red Herring Prospectus dated 11 May 2026Updated
Contacts
Source: Red Herring Prospectus dated 11 May 2026Updated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: Red Herring Prospectus dated 11 May 2026Updated
After listing
Listing price, day-one high and low, and the change from the issue price (set at allotment) appear here after the shares list on NSE Emerge.
Frequently asked questions
When does the Teamtech Formwork Solutions IPO open and close?
According to the Red Herring Prospectus, the issue opens on Tuesday, 19 May 2026 and closes on Thursday, 21 May 2026.
What is the Teamtech Formwork Solutions IPO price band?
The Red Herring Prospectus does not include a price band. The company announces it by advertisement before the issue opens, and this page is updated when it is filed.
Where will Teamtech Formwork Solutions shares list?
On NSE Emerge. The tentative listing date is Tuesday, 26 May 2026.
Who is the registrar of the issue?
KFin Technologies Limited (SEBI registration INR000000221). Allotment status is checked on the registrar's website.
How do I check the Teamtech Formwork Solutions IPO allotment status?
The basis of allotment is expected to be finalised on Monday, 25 May 2026. After that, search by PAN, application number or DP/client ID on the registrar's website (KFin Technologies Limited). Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹11.92 Cr for capital expenditure on plant and machinery for the new manufacturing unit, ₹15.5 Cr for repayment or prepayment of certain borrowings, ₹13.77 Cr for working capital requirements, and the rest for the other stated purposes.
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Spotted something wrong?
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