Accord Transformer & Switchgear IPO
Accord Transformer & Switchgear IPO
Overview
Accord Transformer & Switchgear IPO is a book build issue of ₹25.59 crores. The issue is entirely a fresh issue of 0.56 crore shares of ₹25.59 crore. Accord Transformer & Switchgear IPO opens for subscription on Feb 23, 2026 and closes on Feb 25, 2026. The allotment for the Accord Transformer & Switchgear IPO is expected to be finalized on Feb 26, 2026. Accord Transformer & Switchgear IPO will list on BSE SME with a tentative listing date fixed as Mar 2, 2026. Accord Transformer & Switchgear IPO price band is set at ₹43 to ₹46 per share. The lot size for an application is 3,000. The minimum amount of investment required by an individual investor (retail) is ₹2,76,000 (6,000 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (9,000 shares), amounting to ₹4,14,000. GYR Capital Advisors Pvt.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The Market Maker of the company is Giriraj Stock Broking Pvt.Ltd..
Total Shares
55,62,000
Issue Size
₹26 Cr
Price Band
₹43 – ₹46
Lot Size
3000 shares
Min. Investment
₹2,76,000
Max. Investment
₹2,76,000
Open Date
23 Feb, 2026
Close Date
25 Feb, 2026
Allotment
26 Feb, 2026
Listing
02 Mar, 2026
Max. Investment
₹2,76,000
Announced
23 Feb, 2026
Opening Date
23 Feb, 2026
Closing Date
25 Feb, 2026
Basis of Allotment
26 Feb, 2026
Initiation of Refunds
27 Feb, 2026
Credit of Shares
27 Feb, 2026
Listing Date
02 Mar, 2026
Live GMP
Est. Listing: ₹58
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About Accord Transformer & Switchgear IPO
Accord Transformer & Switchgear Ltd., incorporated in 2014, is an established company engaged in the design, engineering, manufacturing, and supply of a diversified range of electrical power and distribution equipment.
With over 10 years of experience, the company caters to the standard and customised requirements of clients across various sectors, including power transmission and distribution, renewable energy, industrial applications, infrastructure projects, and electric vehicle
Accord Transformer & Switchgear IPO Share Price
Issue Breakdown
Shareholding
Dilution: 37.1% increase in shares
Accord Transformer & Switchgear IPO Financial Health
Accord Transformer & Switchgear IPO Lot Size
Investors can bid for a minimum of 6,000 shares and in multiples of 3,000 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 6000 | ₹2,76,000 |
| Individual investors (Retail) (Max) | 2 | 6000 | ₹2,76,000 |
| S-HNI (Min) | 3 | 9000 | ₹4,14,000 |
| S-HNI (Max) | 7 | 21000 | ₹9,66,000 |
| B-HNI (Min) | 8 | 24000 | ₹11,04,000 |
(All values in CR)
Accord Transformer & Switchgear IPO Valuations
| Metric | Value |
|---|---|
| ROE | 12.67 |
| ROCE | 14.52 |
| Debt/Equity | 0.18 |
| RoNW | 11.91 |
| PAT Margin | 6.44 |
| EBITDA Margin | 10.19 |
| Price to Book Value | 2.82 |
(All values in CR)
Accord Transformer & Switchgear IPO Strength & Risk
Accord Transformer & Switchgear IPO — Strengths:
Operates in transformer and switchgear manufacturing for the power and distribution sector
Presence in a core infrastructure-linked industry with steady demand potential
Diversified customer base across industrial, infrastructure and energy segments
Established manufacturing and engineering capabilities
Visible growth in business performance in recent periods
Benefits from demand linked to power and renewable energy expansion
Accord Transformer & Switchgear IPO — Risks:
Demand sensitive to economic cycles and infrastructure spending trends
SME listing may lead to lower liquidity and higher share price volatility
Faces competition from larger and established electrical equipment players
Margins vulnerable to raw material price fluctuations
Revenue dependent on timely execution and delivery of orders
Project delays can impact cash flows and financial performance
Accord Transformer & Switchgear IPO Subscriptions Status
Accord Transformer & Switchgear IPO subscribed 329.72 times. The public issue subscribed 367.59 times in the individual investors category, 153.01 times in QIB (Ex Anchor), and 476.99 times in the NII category by February 25, 2026 6:24:47 PM (Day 3).
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Rs Cr.) |
|---|---|---|---|---|
| Anchor | 1.00 | 15,84,000 | 15,84,000 | 7.29 |
| Market Maker | 1.00 | 2,82,000 | 2,82,000 | 1.3 |
| QIB (Ex Anchor) | 153.01 | 10,56,000 | 16,15,83,000 | 743.28 |
| NII | 476.99 | 7,92,000 | 37,77,75,000 | 1 |
| bNII (> ₹10L) | 709.68 | 5,28,000 | 37,47,12,000 | 1 |
| sNII (< ₹10L) | 398.70 | 2,64,000 | 10,52,57,999 | 484.19 |
| Individual Investors | 367.59 | 18,48,000 | 67,93,02,000 | 3 |
| Total | 329.72 | 36,96,000 | 1,21,86,60,000 | 5 |
Accord Transformer & Switchgear IPO GMP
Accord Transformer & Switchgear SME IPO last GMP is ₹12, last updated Feb 25th 2026 05:58 PM. With the price band of 46.00, Accord Transformer & Switchgear SME IPO's estimated listing price is ₹58 (cap price + today's GMP).The expected percentage gain/loss per share is 26.09%. >> Accord Transformer & Switchgear SME IPO Retail Subject to Sauda: ₹27400 The lowest GMP is ₹8.00, while the highest GMP is ₹17.00.
Last updated 25 Feb, 2026 · Source: aggregated grey-market dealers
| Date | IPO Price | GMP | Sub2 Sauda | Est. Listing | Est. Profit | Updated |
|---|---|---|---|---|---|---|
| 25 Feb, 2026 | 46 | ₹12▲ | 27400 | ₹58 (26.09%) | 36000 | 25 Feb, 2026 |
| 24 Feb, 2026 | 46 | ₹8▼ | 18200 | ₹54 (17.39%) | 24000 | 24 Feb, 2026 |
| 23 Feb, 2026 | 46 | ₹13▼ | 29600 | ₹59 (28.26%) | 39000 | 23 Feb, 2026 |
| 22 Feb, 2026 | 46 | ₹17 | 38800 | ₹63 (36.96%) | 51000 | 22 Feb, 2026 |
| 21 Feb, 2026 | 46 | ₹17▲ | 38800 | ₹63 (36.96%) | 51000 | 21 Feb, 2026 |
| 20 Feb, 2026 | 46 | ₹12▲ | 27400 | ₹58 (26.09%) | 36000 | 20 Feb, 2026 |
| 19 Feb, 2026 | 46 | ₹10▼ | 22800 | ₹56 (21.74%) | 30000 | 19 Feb, 2026 |
| 18 Feb, 2026 | 46 | ₹12▲ | 27400 | ₹58 (26.09%) | 36000 | 18 Feb, 2026 |
| 17 Feb, 2026 | 46 | ₹8 | 18200 | ₹54 (17.39%) | 24000 | 17 Feb, 2026 |
Disclaimer: GMP is an unofficial signal from grey-market dealers and is not regulated by SEBI. Use it alongside subscription data and other research for informed decision-making.
How to Apply for Accord Transformer & Switchgear IPO
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Find Accord Transformer & Switchgear IPO under the IPO section. Select it and enter your bid details — choose lot size and price (cut-off price recommended).
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Application Confirmed
Your funds will be blocked in your account until the IPO allotment process is completed.