The Teamtech Formwork Solutions IPO witnessed strong investor interest by the end of Day 3, with the issue getting fully subscribed across categories. The overall subscription stood at 7.01 times, reflecting healthy demand from both retail and non-institutional investors.

Overall Subscription Snapshot

By the close of Day 3 (May 21, 2026), the IPO received bids for more than seven times the shares offered. A total of 3.71 crore shares were bid for against 52.94 lakh shares on offer, indicating robust participation.

Category-wise Performance

The subscription trend showed clear strength in the NII segment, followed by retail investors:

• Qualified Institutional Buyers (QIB, Ex Anchor): 4.28×

• Non-Institutional Investors (NII): 12.79×

  • bNII (> ₹10L): 15.07×

  • sNII (< ₹10L): 8.24×

• Retail Individual Investors: 6.10×

The NII category emerged as the strongest, showing aggressive bidding from high-net-worth individuals, especially in the big-ticket segment.

Day-wise Trend

The IPO saw a slow start in the first two days but witnessed a sharp jump on Day 3:

• Day 1: 0.54× overall subscription

• Day 2: 0.67× overall subscription

• Day 3: 7.01× overall subscription

This spike indicates a last-day rush, a common pattern in many SME and mid-sized IPOs.

What This Subscription Means

A 7x subscription generally signals:

• Strong demand in the grey market sentiment (if any)

• Higher chances of allotment pressure in retail and NII categories

• Potential listing interest from traders and investors

However, final listing performance will still depend on broader market conditions, valuation comfort, and post-listing sentiment.

Conclusion

The Teamtech Formwork Solutions IPO closed Day 3 with strong demand, especially from NII investors. With overall subscription crossing 7 times, the issue has generated solid market interest ahead of allotment and listing.