New Delhi, May 26 (H.S.): Shares of Teamtech Formwork Solutions, a company engaged in manufacturing modular T-formwork and customised formwork systems for the construction industry, delivered a premium listing on the stock market on Monday, bringing gains to its IPO investors.
The company’s shares were issued at ₹63 under the IPO. On listing, the stock debuted at ₹75 on the NSE SME platform, reflecting a premium of 19.05 percent.
However, soon after listing, selling pressure dragged the stock down to a lower circuit level of ₹71.25. Later, buying interest emerged, breaking the lower circuit and pushing the stock back up. By around 12:30 pm, the shares were trading again at ₹75.
At this level, IPO investors were enjoying gains of ₹12 per share, or 19.05 percent.
The ₹50.15 crore IPO of Teamtech Formwork Solutions was open for subscription between May 19 and May 21. The issue received an average response, being subscribed 7.01 times overall.
The Qualified Institutional Buyers (QIB) portion was subscribed 4.28 times, while the Non-Institutional Investors (NII) segment saw a strong subscription of 12.79 times. The retail portion was subscribed 6.10 times.
The IPO comprised 79.60 lakh fresh equity shares of face value ₹5 each. The funds raised through the issue will be used for setting up a new manufacturing unit, purchasing plant and machinery, reducing existing debt, meeting working capital requirements, and for general corporate purposes.
According to the Draft Red Herring Prospectus (DRHP) filed with SEBI, the company has shown consistent financial growth. Teamtech Formwork Solutions reported a net profit of ₹7.69 crore in FY 2023–24, which rose to ₹7.84 crore in FY 2024–25 and further surged to ₹11.59 crore in FY 2025–26.
The company’s revenue also increased steadily from ₹30.31 crore in FY 2023–24 to ₹32.98 crore in FY 2024–25 and ₹54.23 crore in FY 2025–26.
However, the company’s debt burden also increased significantly, rising from ₹3.64 crore in FY 2023–24 to ₹11.10 crore in FY 2024–25 and ₹16.68 crore in FY 2025–26.
Reserves and surplus also improved, increasing from ₹11.23 crore in FY 2023–24 to ₹19.07 crore in FY 2024–25 and ₹22.21 crore in FY 2025–26.
EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) also showed strong growth, rising from ₹9.11 crore in FY 2023–24 to ₹9.24 crore in FY 2024–25 and ₹17.50 crore in FY 2025–26.
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Hindusthan Samachar / Jun Sarkar
