A punching machine comprising a formation tool for sheet metal deformation having an upper die tool, a lower die tool received by a lower tool receptacle, and including a workbench which supports a sheet metal workpiece for movement between the upper die tool and the lower die tool in a punching stroke plane and a recess at the top of which the lower die tool is positioned, the upper die tool having an upper mold insert, which is braced via a helical spring on a top die body and a holding-down device that guides the upper mold insert, the lower die tool having a stripper plate with an upper stripper surface located at or below the punching stroke plane and the lower die tool having a lower mold insert, wherein the lower mold insert comprises an insert plate, all parts of the lower die tool being initially located below the stripper surface, characterised in that a contact face of the lower die tool rests via a spacer ring on a contact face of the tool receptacle,a lifting device engaging the bottom of the lower mold insert, wherein a lifting device is provided for lifting the lower mold insert with the insert plate, which is braced on the stripper plate via helical springs, into a raised position, in which in the cooperation of the lifting device with a punch stroke of the punching machine, a desired deformation is made in the sheet metal workpiece located between the upper die tool and the lower die tool, the lower mold insert being movably upwardly across the punching stroke plane, wherein the lifting device comprises a tubular body, which at its top operatively engages the lower mold insert, and a final control element engaging the bottom of the tubular body to move the tubular body upwardly to in turn raise the lower mold insert to mate with the upper mold insert. the upper die tool having an upper mold insert, which is braced via a helical spring on a top die body and a holding-down device that guides the upper mold insert, the lower die tool having a stripper plate with an upper stripper surface located at or below the punching stroke plane and the lower die tool having a lower mold insert, wherein the lower mold insert comprises an insert plate, all parts of the lower die tool being initially located below the stripper surface, characterised in that a contact face of the lower die tool rests via a spacer ring on a contact face of the tool receptacle,a lifting device engaging the bottom of the lower mold insert, wherein a lifting device is provided for lifting the lower mold insert with the insert plate, which is braced on the stripper plate via helical springs, into a raised position, in which in the cooperation of the lifting device with a punch stroke of the punching machine, a desired deformation is made in the sheet metal workpiece located between the upper die tool and the lower die tool, the lower mold insert being movably upwardly across the punching stroke plane, wherein the lifting device comprises a tubular body, which at its top operatively engages the lower mold insert, and a final control element engaging the bottom of the tubular body to move the tubular body upwardly to in turn raise the lower mold insert to mate with the upper mold insert.