Teamtech Formwork Solutions Ltd IPO
Engineering
Price Band
₹61 – ₹63
Lot Size
2000
Minimum Bid Quantity
4000
Minimum Investment
₹252000
Issue Size
₹50.15Cr
Opens
2026-05-19
Closes
2026-05-21
Listing
26-05-2026
Subscription Status
Qualified Institutional Buyers
2.94 x
Non-Institutional Investor
5.7 x
Retail Individual Investor
3.36 x
Total
3.88 x
IPO Details
Issue Type
EQUITY
Face Value
₹5
Tick Size
1
ISIN
INE2OL601013
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Teamtech Formwork Solutions Limited is engaged in the manufacturing, refurbishing, and rental of modular T formwork and customised formwork systems used in the construction industry. The company operates on a B2B model and provides vertical modular T formwork systems used for foundations, walls, shafts, tanks, bridges, circular walls, and other vertical concrete structures. Its offerings include standard panels, customised panels, accessories, refurbishment and reconditioning services, and rental-based formwork solutions. The company also provides formwork design support and project planning through software used for estimating panel requirements and project layouts. Teamtech Formwork Solutions operates an in-house manufacturing and assembly facility spread across 20,000 sq. ft. at IDA Bollaram, Sangareddy District, Telangana. The facility is equipped with machinery such as laser machines and plywood cutting equipment for manufacturing and refurbishment activities. The company was originally established as a partnership firm in 2017 and was converted into a public limited company in 2025.
Pros
- • Teamtech Formwork Solutions operates an integrated business model covering manufacturing, refurbishment, and rental of modular T formwork systems. This allows the company to cater to different customer requirements across project stages while also generating revenue from multiple service lines instead of depending only on product sales.
- • The company claims to have an in-house manufacturing and refurbishment facility spread across approximately 32,000 sq. ft. at IDA Bollaram, Telangana. The facility is equipped with machinery such as laser machines and plywood cutting equipment used for manufacturing standard and customised modular formwork systems.
- • The company claims to have in-house engineering and technical capabilities for formwork design, layout planning, quantity estimation, and site-level technical support. It also uses software from third-party vendors for formwork planning and project execution layouts, which helps in estimating panel requirements and project timelines.
Cons
- • The top five customers of Teamtech Formwork Solutions contributed Rs 38.98 crore (72.65%), Rs 17.68 crore (54.06%), and Rs 14.16 crore (46.74%) to the company’s total revenue in FY26, FY25, and FY24, respectively. Any loss of these key customers, reduction in order volumes, or inability to maintain long-term relationships with them could adversely affect the company’s business operations and financial condition.
- • The company also derives a portion of its revenue from promoter group entity Teamtech Formwork Solutions (F.Z.C), which contributed Rs 11.54 crore, representing 21.50% of total revenue in FY26. Any reduction in business from this related party entity could negatively impact the company’s revenue and cash flows.
- • Teamtech Formwork Solutions operates in the construction industry, which is subject to seasonal fluctuations. Demand for the company’s formwork systems may decline during monsoon periods when construction activity typically slows down, which could impact revenue generation and operating performance during certain quarters. Any prolonged slowdown in construction activity during peak seasonal periods or delays in project execution due to adverse weather conditions could negatively affect the company’s business operations, cash flows, and financial condition.
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