New Delhi, May 26 -- Teamtech Formwork Solutions IPO listing: Shares of Teamtech Formwork Solutions listed at a massive over 19% premium on the NSE SME platform on Tuesday, 26 May, beating estimates.

Teamtech Formwork Solutions shares opened at Rs.75 today compared with its initial public offering (IPO) price of Rs.63, recording a listing pop of Rs.12 or 19.05%. Soon after listing, the SME stock was trading at Rs.72.30 as of 10.06 am, down 3% from the listing price.

The listing was better-than-estimates as signalled by the grey market premium (GMP). Ahead of the debut, Teamtech Formwork Solutions IPO GMP was Rs.5, suggesting a listing gain of almost 8%.

The offer received a solid response from investors during the book-building process...