Teamtech Formwork Solutions IPO Day 3 21 May 2026: Closes Today at 5 PM, Day 1 at 0.35x, GMP Rs 0, Last Chance

May 21, 2026
Posted by: Kunal Singla
Category: IPO

The Teamtech Formwork Solutions IPO closes TODAY, 21 May 2026 (Day 3), at 5:00 PM on the NSE SME platform. This is the final day to apply with the UPI mandate confirmation cut-off at 5 PM. Day 1 (19 May) subscription reached 0.35 times with 18.50 lakh bids against 52.94 lakh shares on offer per HDFC Sky/exchange data. The grey market premium remains at Rs 0 per IndiaIPO, with IPOUp citing a marginal Rs 1. The Rs 14.28 crore anchor book was subscribed by nine anchor investors on 16 May. The issue lists on NSE SME on 26 May 2026.

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Table of Contents

Teamtech Formwork Solutions IPO Day 3 Final Data

Subscription Day: Day 3 of 3 (FINAL DAY)
Close Time: 5:00 PM TODAY, 21 May 2026 (UPI cut-off 5 PM)
Allotment: 22 May 2026
Share Credit: 25 May 2026
Listing: 26 May 2026 on NSE SME
Price Band: Rs 61 to Rs 63 per share
Issue Size: Rs 50.15 crore (79.60 lakh shares, 100% fresh issue)
Minimum Retail: 4,000 shares = Rs 2,52,000
Day 1 Overall Subscription: 0.35x (18.50L bids vs 52.94L shares, QIB-led per HDFC Sky)
GMP Day 3: Rs 0 (IndiaIPO) to Rs 1 (IPOUp) — nil to marginal
Anchor Investors: Rs 14.28 crore raised from 9 anchors on 16 May

Track live Teamtech Formwork Day 3 subscription on the Check the Univest Screener for live data.

Day 3 Analysis: Will It Cross 1x?

With Day 1 at 0.35x (QIB-led per HDFC Sky), Teamtech Formwork needs Day 2 and Day 3 to contribute 0.65x more to cross 1x. Day 3 is typically the highest-volume day for SME IPOs as NII and retail investors rush to apply before the 5 PM close. The nine-anchor book (Rs 14.28 crore) represents meaningful institutional backing that typically signals confidence in the business. For an Rs 50.15 crore issue, QIBs hold 50% of the allocation. If QIBs move significantly on Day 2 and Day 3, the issue can still close oversubscribed. Watch Day 3 subscription data at 6 PM on NSE after close for the final number.

The investment case: FY26 revenue grew 64 percent and PAT grew 48 percent year on year. Three revenue streams (manufacturing, refurbishment, rental) provide diversification. India’s infrastructure capex cycle (Rs 11 lakh crore annual budget) is a structural tailwind. Nil GMP means no listing gain case — apply on business fundamentals only. If applying, do so NOW to allow UPI processing time before 5 PM

FY26 Revenue: Rs 54.23 crore (+64% YoY from Rs 32.98 crore FY25)
FY26 PAT: Rs 11.59 crore (+48% YoY from Rs 7.84 crore FY25)
Price band PE: Approximately 22 to 23x at Rs 63 upper band
Key Risk: Nil GMP. Single Bollaram site. Construction sector cyclicality.

Disclaimer: Investment in the share market is subject to risk. This article is for informational and educational purposes only and does not constitute investment advice. Verify all numbers before investing. Consult a SEBI-registered advisor before making investment decisions.

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FAQs

What was Teamtech Formwork Solutions IPO Day 1 subscription?

Ans. Teamtech Formwork Solutions IPO Day 1 (19 May) subscription was 0.35 times, with 18.50 lakh bids received against 52.94 lakh shares on offer as of 1:15 PM per HDFC Sky. The subscription was QIB-led. Day 3 (today) is the final day with UPI cut-off at 5 PM.

Is it too late to apply for Teamtech Formwork Solutions IPO today?

Ans. No — but apply immediately. The UPI cut-off is 5 PM TODAY (21 May). UPI mandate processing takes 30 to 60 minutes. Apply right now through your broker app to avoid missing the deadline. Allotment is 22 May, listing is 26 May on NSE SME.

IPO Day 3

Author: Kunal Singla

Kunal Singla is the Associate Director - Research at Univest, leading quantitative equity research, intraday trading setups, and derivatives strategy. With 4+ years of experience in Indian equity markets, he combines rigorous quantitative methods with classical technical analysis to build high-conviction research frameworks for retail and advisory clients. He holds an MSc from the Indian Institute of Technology (IIT) Delhi — one of India's most selective institutions — and has completed the Certificate in Quantitative Finance (CQF), a globally recognised programme covering derivatives pricing, risk modelling, machine learning for finance, and advanced portfolio theory. This combination places him in a small group of Indian analysts with both deep academic training in quantitative methods and SEBI-recognised research credentials. Kunal holds seven SEBI-recognised NISM certifications spanning research, derivatives, portfolio management, and securities operations: Series-XV (Research Analyst), Series-XXI-A (Portfolio Managers), Series-XVI (Commodity Derivatives), Series-VIII (Equity Derivatives), Series-VII (SORM), Series-V-A (Mutual Fund Distributors), and Series-I (Currency Derivatives). At Univest — India's SEBI-registered research and advisory platform — Kunal leads research inputs for Pro Lite, Pro Super, Pro Gold, and Pro Commodity advisory services, alongside publishing intraday stock picks on Univest Blogs.