Accord Transformer & Switchgear IPO
Open SmeCurrent GMP
₹4 (+8.70%)
Price Band
₹ 43 – 46
Lot Size
3000
Issue Size
₹26 Cr
Minimum Investment
₹276000 (6000 Shares)
Listing Date
02 March 2026
Subscription
401.38x
About the Company
Accord Transformer & Switchgear Ltd., incorporated in 2014, is a well-established engineering company specializing in the design, manufacturing, and supply of a wide range of electrical power and distribution equipment. With over a decade of industry experience, the company serves both standard and custom requirements across diverse sectors, including power transmission and distribution, renewable energy, industrial applications, infrastructure development, and electric vehicle (EV) charging networks.
Product Portfolio
1. Transformers
Accord Transformer & Switchgear Ltd. offers an extensive range of transformers designed for varied applications:
- Distribution Transformers: Up to 2.5 MVA, 36 kV
- Power Transformers: Up to 20 MVA, 33 kV
- Dry-Type Transformers: Up to 5000 KVA, 36 kV
- Special-Purpose Transformers:
- Solar inverter duty transformers
- Wind inverter duty transformers
- Furnace duty transformers
- Other application-specific transformer solutions
2. Control Panels & Switchgear
The company manufactures and supplies a complete range of control panels and switchgear solutions, including:
- Low-Voltage (LV) Panels: LV control panels, LV switchboards, and APFC panels
- Medium-Voltage (MV) Panels: VCB (Vacuum Circuit Breaker) panels and associated MV solutions
- Industrial Control Panels
- Customised Prisma Set Control Panels (developed in collaboration with Schneider Electric)
- Package Substations, Busducts, Cable Trays, and integrated switchgear assemblies
Manufacturing Infrastructure
Accord operates two state-of-the-art manufacturing facilities in Bhiwadi, Rajasthan, supported by a registered office in Manesar, Haryana. The facilities are equipped with modern machinery and advanced systems, including:
- Plasma cutting machines
- Foil winding machines
- Shot blasting and painting booths
- Fully equipped in-house testing laboratories
This infrastructure enables the company to successfully design, manufacture, test, and deploy critical power system solutions with high reliability and technical precision.
Workforce
As of August 31, 2025, Accord Transformer & Switchgear Ltd. employed 117 permanent personnel, comprising skilled engineers, technicians, and support staff.
Promoters
- Mr. Pradeep Kumar Verma
- Mrs Shalini Singh
Promoters Holding
Holding Pre Issue
84.94%
Holding Post Issue
61.98%
Objects of the Issue
The Company Accord Transformer & Switchgear IPO proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Capital expenditure towards purchase of Machinery and equipment
- Funding of the working capital requirement of our Company
- General corporate purposes
Address / Contact Info
Accord Transformer & Switchgear Ltd.
Unit No. 724, Seventh Floor
Eros Corporate Park, K Block, Sector 2
IMT Manesar, Manesar
Gurgaon, Haryana, 122052
Phone: +91 85274 22944
Email: compliance@atsgroup.in
Website: https://atsgroup.in/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Monday, 23 February 2026
IPO Close Date
Wednesday, 25 February 2026
Basis of Allotment
Thursday, 26 February 2026
Initiation of Refunds
Friday, 27 February 2026
Credit of Shares to Demat
Friday, 27 February 2026
Listing Date
Monday, 02 March 2026 — NSE & BSE
Important Dates
Open Date
23 February 2026
Close Date
25 February 2026
Basis Of Allotment
26 February 2026
Listing Date
02 March 2026
Financial Performance (₹ in Crores)
| Particular | 31 Dec 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 41.02 | 59.89 | 26.46 | 15.82 |
| Revenue | 45.29 | 79.2 | 48.6 | 40.81 |
| Profit After Tax | 2.91 | 6.05 | 1.61 | 0.87 |
| Net Worth | 24.45 | 21.54 | 6.04 | 4.43 |
| Reserve & Surplus | 9.44 | 21.25 | 5.79 | 4.18 |
| Total Borrowings | 4.37 | 11.81 | 9.13 | 2.3 |
EPS Pre
4.03%
EPS Post
2.94%
P/E Pre
11.41
P/E (Post Issue)
15.63x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | Dec 2025 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|
| ROE % | 12.67 | 43.9 | 30.69 | 21.99 |
| ROCE % | 14.52 | 26 | 16.47 | 20.49 |
| Debt / Equity | 0.18 | 0.55 | 1.51 | 0.52 |
| RoNW % | 11.91 | 28.1 | 26.6 | 19.81 |
| PbW | 0 | 0 | 0 | 0 |
| Pat Margin % | 6.44 | 7.66 | 3.31 | 2.15 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 1056000 | 28.57 | 0 |
| Non-Institutional | 792000 | 21.43 | 0 |
| BNII | 528000 | 14.29 | 0 |
| SNII | 264000 | 7.14 | 0 |
| Retail Investors | 1848000 | 50 | 0 |
| Total | 3696000 | 100 | 0 |
Subscription Status ( Wed, 25 Feb 26 01:28 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 1056000 | 161583000 | 153.01x |
| Non-Institutional | 792000 | 480252000 | 606.38x |
| BNII | 528000 | 374994000 | 710.22x |
| SNII | 264000 | 105258000 | 398.7x |
| Retail Investors | 1848000 | 679302000 | 367.59x |
| Total | 4488000 | 1801389000 | 401.38x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| Accord Transformer & Switchgear Ltd | 10 | 0.00 | 4.35 | 4.35 | 28.10 | 14.35 |
| Danish Power Ltd | 10 | 18.09 | 34.55 | 34.55 | 18.00 | 162.50 |
| Transformers and Rectifiers (India) Ltd | 1 | 34.43 | 7.21 | 7.21 | 17.01 | 42.39 |
| Voltamp Transformers Ltd | 10 | 24.76 | 321.65 | 321.65 | 20.50 | 1569.24 |
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 6,000 | 276,000.00 |
| Retail (Max) | 2 | 6,000 | 276,000.00 |
| S-HNI (Min) | 3 | 9,000 | 414,000.00 |
| S-HNI (Max) | 7 | 21,000 | 966,000.00 |
| B-HNI (Min) | 8 | 24,000 | 1,104,000.00 |
Registrar
Kfin Technologies Limited
04067162222, 04079611000
reachus@kfintech.com
https://www.kfintech.com
Book Running Lead Managers
- GYR Capital Advisors Private Limited
RHP Document
DRHP Document
Anchor Investors
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Accord Transformer & Switchgear IPO is a Book-building IPO worth ₹26 crores. The price band is ₹43 to 46 per share. The IPO opens on Mon, Feb 23, 2026 and closes on Wed, Feb 25, 2026. It will be listed on BSE and NSE. Kfin Technologies Limited is the registrar.
The Accord Transformer & Switchgear IPO opens on Mon, Feb 23, 2026 and closes on Wed, Feb 25, 2026
Accord Transformer & Switchgear IPO Price Band is ₹43 to 46.
Accord Transformer & Switchgear IPO lot size is 3000, and the minimum amount required for application is ₹276000.
The minimum investment for Accord Transformer & Switchgear IPO is approximately ₹276000 based on the upper price band.
To apply for the Accord Transformer & Switchgear IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Wed, Feb 25, 2026. After submission, funds are blocked until the basis of allotment of Accord Transformer & Switchgear IPO is finalised.
Accord Transformer & Switchgear IPO issue size is ₹26 crores.
Accord Transformer & Switchgear IPO allotment date is Sat, Jun 27, 2026.
The registrar for Accord Transformer & Switchgear IPO is Kfin Technologies Limited. Investors can go to Kfin Technologies Limited website for IPO allotment status, refund processing, and other queries related to Accord Transformer & Switchgear IPO through their official website or helpline.
The Accord Transformer & Switchgear IPO GMP (Grey Market Premium) is ₹4 as of Mon, Mar 2, 2026. Based on the upper price band of ₹46 per share, the estimated Accord Transformer & Switchgear IPO listing price is ₹50, indicating a potential listing gain of approximately 31% over the issue price.