Accord Transformer & Switchgear IPO
GMP, Subscription, Price, Dates & Financial Details
Electric Equipment
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…
Open Date
Mon, 23 Feb 2026
Close Date
Wed, 25 Feb 2026
Price Band
₹ 43 – 46
Lot Size
3000
Issue Size
₹ 26.00 Cr
Minimum Investment
₹ 276,000 (6000 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Accord Transformer & Switchgear IPO has successfully completed its IPO process and is now listed on BSE SME Platform. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹26.00 Crore.
The Accord Transformer & Switchgear IPO remained open for subscription from February 23, 2026, to February 25, 2026. The basis of allotment was finalized on February 26, 2026, and the company's shares were listed on BSE SME Platform on March 02, 2026.
The company had fixed the price band at ₹43 to ₹46 per share, with a lot size of 3000 shares. Retail investors were required to make a minimum investment of ₹276,000 (based on the upper price band) to apply for one lot.
KFin Technologies Limited served as the registrar to the issue. GYR Capital Advisors Private Limited acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Accord Transformer & Switchgear Limited is now a publicly listed company on BSE SME Platform. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Accord Transformer & Switchgear IPO Timeline (Tentative)
- IPO Open Date
- Mon, 23 Feb 26
- IPO Close Date
- Wed, 25 Feb 26
- Basis of Allotment
- Thu, 26 Feb 26
- Initiation of Refunds
- Fri, 27 Feb 26
- Credit of Shares to Demat
- Fri, 27 Feb 26
- Listing Date
- Mon, 02 Mar 26 — NSE & BSE
Open Date
23 February 2026
Close Date
25 February 2026
Basis Of Allotment
26 February 2026
Listing Date
02 March 2026
IPO Subscription
Check Live Subscription →The Accord Transformer & Switchgear IPO has received bids for 1,80,13,89,000 shares against 44,88,000 shares offered, resulting in an overall subscription of 401.38x. the NII category is subscribed 606.38x, Retail Investors 367.59x, and QIBs 153.01x. Within the NII category, BNII is subscribed 710.22x, while SNII is subscribed 398.7x.
QIB
153.01x
NII
606.38x
BNII
710.22x
SNII
398.7x
RII
367.59x
Total
401.38x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 18,48,000 shares, representing 50% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 10,56,000 shares (28.57%), while Non-Institutional Investors (NIIs) receive 7,92,000 shares (21.43%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Qualified Institutions | 1,056,000 | 28.57% |
| Non-Institutional | 792,000 | 21.43% |
| BNII | 528,000 | 14.29% |
| SNII | 264,000 | 7.14% |
| Retail Investors | 1,848,000 | 50% |
| Total | 3,696,000 | 100% |
Financials Details(₹ 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 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Accord Transformer & Switchgear Limited KPI Information
| 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 |
| Pat Margin % | 6.44 | 7.66 | 3.31 | 2.15 |
Peers Comparison
| 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 |
About Accord Transformer & Switchgear Limited
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.
Accord Transformer & Switchgear IPO Promoters
- Mr. Pradeep Kumar Verma
- Mrs Shalini Singh
Promoters Holding
Holding Pre Issue
84.94%
Holding Post Issue
61.98%
Accord Transformer & Switchgear IPO Objective
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
Accord Transformer & Switchgear Limited Address / Contact Details
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
Accord Transformer & Switchgear IPO Lot Size
The Accord Transformer & Switchgear IPO has a lot size of 3,000 shares. Retail investors require a minimum investment of ₹2,76,000 by applying for 2 lot (6,000 shares). The maximum application allowed for the retail category is 2 lots (6,000 shares), requiring an investment of ₹2,76,000.
| 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 |
Issue Reservation
- QIB — 28.57%
- NII — 21.43%
- RII — 50%
Book Running Lead Managers
- GYR Capital Advisors Private Limited
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Accord Transformer & Switchgear IPO?
Accord Transformer & Switchgear IPO is a Book-building IPO with a total issue size of ₹26 crore. The Accord Transformer & Switchgear IPO price band is ₹43 to 46 per share. The Accord Transformer & Switchgear IPO subscription opens on Mon, Feb 23, 2026, and closes on Wed, Feb 25, 2026. The Accord Transformer & Switchgear IPO will be listed on the BSE. KFin Technologies Limited is the registrar for the Accord Transformer & Switchgear IPO.
When will the Accord Transformer & Switchgear IPO open for subscription?
The Accord Transformer & Switchgear IPO opens on Mon, Feb 23, 2026 and closes on Wed, Feb 25, 2026
What is Accord Transformer & Switchgear IPO Price Band?
Accord Transformer & Switchgear IPO Price Band is ₹43 to 46 per share.
What is Accord Transformer & Switchgear IPO Lot Size?
Accord Transformer & Switchgear IPO lot size is 3000 shares, Retail investors need a minimum investment of ₹276000 based on the upper price band
What is the minimum investment for Accord Transformer & Switchgear IPO?
The minimum investment for Accord Transformer & Switchgear IPO is ₹276000, based on one lot of 3000 shares at the upper price band of ₹46 per share.
How to apply for Accord Transformer & Switchgear IPO?
Investors can apply for the Accord Transformer & Switchgear IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Wed, Feb 25, 2026. The application amount remains blocked until the Accord Transformer & Switchgear IPO allotment is finalized.
What is Accord Transformer & Switchgear IPO Issue Size?
Accord Transformer & Switchgear IPO issue size is ₹26 crores.
What is the Accord Transformer & Switchgear IPO Allotment Date?
Accord Transformer & Switchgear IPO allotment date is Thu, Feb 26, 2026.
Who is the Accord Transformer & Switchgear IPO Registrar?
The registrar for Accord Transformer & Switchgear IPO is KFin Technologies Limited. Investors can go to KFin Technologies Limited website to check Accord Transformer & Switchgear IPO allotment status, refund processing, and other IPO-related information.
What is the Accord Transformer & Switchgear IPO GMP?
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 8.70% over the issue price.
Who is the Accord Transformer & Switchgear IPO Lead Manager?
The book-running lead managers (BRLMs) for the Accord Transformer & Switchgear IPO are GYR Capital Advisors Private Limited. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Accord Transformer & Switchgear IPO Red Herring Prospectus (RHP).