Accord Transformer & Switchgear is entering the public markets through SME IPO with an issue size of ₹25.59 crore. The issue consists of a fresh issue of equity shares. The shares are proposed to be listed on BSE & SME.
The IPO subscription window opens on February 23, 2026 and will remain open until February 25, 2026. The company plans to list its shares on March 2, 2026. Being an SME IPO, the issue may appeal to investors familiar with lower liquidity listings.
Accord Transformer & Switchgear Limited IPO Timeline
IPO Quick Facts
This section covers the main IPO details of Accord Transformer & Switchgear that investors generally review before applying.
IPO Details at a Glance
| Company Name | Accord Transformer & Switchgear |
|---|---|
| IPO Segment | SME |
| Sale Type | Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Price | ₹46 Per Share |
| Lot Size | 3,000 Shares |
| Face Value | ₹10 Per Share |
| Exchange | BSE & SME |
IPO Documents
| RHP | DRHP |
|---|---|
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|
Investor Category & Share Allocation
| Investor Category | Shares Offered | % of Issue |
|---|---|---|
| Market Maker | 282,000 | 5.07% |
| Qualified Institutional Buyers (QIB) | 2,640,000 | 47.46% |
| — Anchor Investor | 1,584,000 | 28.48% |
| — QIB (Ex Anchor) | 1,056,000 | 18.99% |
| NII (HNI) | 792,000 | 14.24% |
| — bNII > ₹10L | 528,000 | 9.49% |
| — sNII < ₹10L | 264,000 | 4.75% |
| Retail | 1,848,000 | 33.23% |
| Total Shares Offered | 5,562,000 | 100.00% |
Accord Transformer & Switchgear IPO Important Dates
The following table highlights the key dates for the Accord Transformer & Switchgear IPO, covering the subscription period and the expected listing timeline.
| IPO Opening Date | 23 Feb 2026 |
|---|---|
| IPO Closing Date | 25 Feb 2026 |
| Allotment Finalization | 26 Feb 2026 |
| Initiation of Refunds | 27 Feb 2026 |
| Credit of Shares | 27 Feb 2026 |
| IPO Listing Date | 02 Mar 2026 |
Accord Transformer & Switchgear IPO Size & Structure
| Total IPO Size | ₹25.59 Crore |
|---|---|
| Fresh Issue | ₹25.59 Crore |
Accord Transformer & Switchgear IPO Lot Size & Minimum Investment
The table below shows the lot size and investment amount for the Accord Transformer & Switchgear IPO, which is a fixed price IPO priced at ₹46 per share.
Investors can apply for the IPO with a minimum of 3000 shares. Applications must be made in multiples of 3000 shares.
- Retail investors can apply from 2 lot to 2 lots.
- Small HNI (SHNI) investors must apply for at least 3 lots.
- Big HNI (BHNI) investors need to apply for a minimum of 8 lots.
This information helps investors understand the minimum investment required before applying for the IPO.
Note: Retail investors generally apply at the cut-off price, which is ₹46 per share.
| Category | Lots | Shares | Price | Amount |
|---|---|---|---|---|
| Retail (Min) | 2 | 6,000 | ₹46 | ₹276,000 |
| Retail (Max) | 2 | 6,000 | ₹46 | ₹276,000 |
| S-HNI (Min) | 3 | 9,000 | ₹46 | ₹414,000 |
| S-HNI (Max) | 7 | 21,000 | ₹46 | ₹966,000 |
| B-HNI | 8 | 24,000 | ₹46 | ₹1,104,000 |
Accord Transformer & Switchgear IPO GMP (Grey Market Premium)
The latest Accord Transformer & Switchgear IPO GMP (Grey Market Premium), along with Kostak rates and Subject to Sauda rates, helps in understanding market sentiment. The current Accord Transformer & Switchgear IPO GMP is ₹4 (8.70%), compared to the IPO issue price of ₹46. Based on the current GMP, the expected listing price is around ₹50. The Lowest GMP was ₹3 on 17 Feb 2026, while the highest GMP reached ₹17 on 23 Feb 2026.
Accord Transformer & Switchgear IPO was listed on the stock exchange on 02 Mar 2026. The IPO was subscribed 329.19 times. The first reported GMP was ₹3 (6.52%), while the latest recorded GMP stood at ₹4 (8.7%).Listing Details:
- Issue Price: ₹46 per share.
- Listing Price: ₹50.00 (approx. 8.7% gain)
- Listing Date: 02 Mar 2026
Accord Transformer & Switchgear IPO GMP Today - Trend Analysis
| Date | Issue Price (₹) | GMP Price (₹) | Estimated Gain (%) | Estimated Price (₹) | Estimated Profit (₹) |
|---|---|---|---|---|---|
| 28 Feb 2026 | ₹46 | ▼ ₹4 | ▼ 8.7% | ₹50 | ₹24,000 |
| 27 Feb 2026 | ₹46 | ▼ ₹6 | ▼ 13.04% | ₹52 | ₹36,000 |
| 26 Feb 2026 | ₹46 | ▼ ₹8 | ▼ 17.39% | ₹54 | ₹48,000 |
| 25 Feb 2026 | ₹46 | ▼ ₹12 | ▼ 26.09% | ₹58 | ₹72,000 |
| 24 Feb 2026 | ₹46 | ▼ ₹13 | ▼ 28.26% | ₹59 | ₹78,000 |
| 23 Feb 2026 | ₹46 | ▲ ₹17 | ▲ 36.96% | ₹63 | ₹102,000 |
| 21 Feb 2026 | ₹46 | ₹12 | 26.09% | ₹58 | ₹72,000 |
| 20 Feb 2026 | ₹46 | ₹12 | 26.09% | ₹58 | ₹72,000 |
| 19 Feb 2026 | ₹46 | ▲ ₹12 | ▲ 26.09% | ₹58 | ₹72,000 |
| 18 Feb 2026 | ₹46 | ▲ ₹8 | ▲ 17.39% | ₹54 | ₹48,000 |
| 17 Feb 2026 | ₹46 | ▲ ₹3 | ▲ 6.52% | ₹49 | ₹18,000 |
Accord Transformer & Switchgear IPO GMP gives retail and institutional investors an idea about short-term market expectations. Although grey market premium does not guarantee listing performance, it is still commonly referred to while analysing IPOs. Investors are advised to look at Accord Transformer & Switchgear fundamentals along with IPO GMP data before making any investment decision.
GMP Disclaimer: GMP (Grey Market Premium) prices are unofficial and only reflect market sentiment. We neither participate in grey-market trading nor encourage it. Investors are strongly advised to review the company’s fundamentals, risks, and official documents before considering an investment in the Accord Transformer & Switchgear IPO.
Accord Transformer & Switchgear IPO Subscription Status
Accord Transformer & Switchgear IPO was subscribed 329.19 times overall on the final day of bidding (as of 25 Feb 2026).The subscription opened on 23 Feb 2026. The Retail portion was subscribed 361.71 times, while QIB and NII categories were subscribed 153.01 times and 446.45 times respectively.
Subscription by Category (QIB, NII, Retail, Employee)
Daily Subscription Trend (Day-wise):
| Date | QIB | NII | Retail | Employee | Total |
|---|---|---|---|---|---|
| 23 Feb 2026 | — | — | — | — | 9.8x |
| 24 Feb 2026 | 1.08x | 36.74x | 59.74x | — | 37.96x |
| 25 Feb 2026 | 153.01x | 446.45x | 361.71x | — | 329.19x |
The Accord Transformer & Switchgear IPO opened with strong demand on Day-1, supported by active participation from QIB and NII investors.
On Day-2, subscription levels for the Accord Transformer & Switchgear IPO rose sharply due to heavy bidding from Retail, followed by NII investors.
By the end of the bidding period, the IPO was subscribed 329.19x overall, reflecting strong demand from key investor categories, led by NII, followed by Retail and QIB investors. Overall subscription for the Accord Transformer & Switchgear IPO increased from 9.8x on Day-1 to 329.19x by the final day.
Accord Transformer & Switchgear IPO Final Subscription
| Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | 153.01x |
| Non-Institutional Investors (NII) | 446.99x |
| Retail Investors | 365.47x |
| Total | 331.08x |
Accord Transformer & Switchgear IPO Allotment Status
The Accord Transformer & Switchgear IPO allotment status was released on 26 Feb 2026. Investors who applied for the IPO can now check their Accord Transformer & Switchgear allotment status online through the official registrar website and NSE / BSE portal.
- 🗓 Allotment Date: 26 Feb 2026
- 📈 Listing Date: 02 Mar 2026
How to Check Accord Transformer & Switchgear IPO Allotment Status Online?
Investors can check the Accord Transformer & Switchgear IPO allotment status online through KFin Technologies Limited and BSE websites. All platforms provide easy access to the IPO allotment details.
Just follow the below mentioned steps to check your allotment status.You can also visit
KFin Technologies
to know more about the IPO registrar.
Check on KFin Technologies Limited (IPO Registrar)
- Visit → KFin Technologies Limited
- Select Accord Transformer & Switchgear
- Enter Application No / Demat Account / PAN details
- Click Submit to view allotment status
Check on BSE (Bombay Stock Exchange) Website
- Visit → BSE Website.
- Select Issue Type: Equity.
- Choose Accord Transformer & Switchgear IPO.
- Enter your PAN or Application Number.
- Click on Search button.
The Bombay Stock Exchange (BSE) also allows investors to check the Accord Transformer & Switchgear IPO allotment status online.
Note: Allotment status is published only on the official registrar websites. We do not collect investor data or provide allotment verification directly.
How to Apply for Accord Transformer & Switchgear IPO?
Login to Your Trading App
Open your trading app such as Angel One, Zerodha, Upstox, Groww or any brokerage app.
Go to the IPO Section
Navigate to the IPO section in the app, search for the IPO, and enter your bid details.
Enter Your UPI ID
Provide your UPI ID that is linked to your bank account for payment authentication.
Approve the Mandate
Open your UPI app and approve the payment mandate to block the required amount.
Application Confirmation
Application submitted successfully, the funds will remain blocked until allotment is finalized.
Accord Transformer & Switchgear debuted at ₹50, listing at a premium of +₹4 (+8.70%). The stock closed at ₹52.5. Investors earned a profit of +₹19,500 per lot.
📌 IPO Issue Price and Lot Size
The IPO of Accord Transformer & Switchgear was offered in the price band of ₹46 to ₹46 per share.
- The final issue price was fixed at ₹46.
- One lot consisted of 3000 shares.
- Minimum investment: ₹46 × 3000 = ₹138,000
- Investment after Day-1: ₹52.5 × 3000 = ₹157,500
- By the end of the listing session, investors made a profit of +₹19,500 per lot.
📌 IPO Subscription Analysis
With a strong overall subscription of 329.19× and QIB participation of 153.01×, the IPO delivered a positive market debut. The stock listed at 8.70% and closed at 14.13%, reflecting sustained buying interest.
| Day | QIB | NNI | Retail | Total |
|---|---|---|---|---|
| Day 1 | 0x | 0x | 0x | 9.8x |
| Day 2 | 1.08x | 36.74x | 59.74x | 37.96x |
| Day 3 | 153.01x | 446.45x | 361.71x | 329.19x |
📌 Final Assessment
Overall Outcome: Successful IPO
- Subscription Phase: High investor participation
- Listing Phase: Strong listing performance
- Investor Experience: Strong short-term gains for investors
IPO Financial Summary
- Total Assets changed by 126.34% in FY 2024-2025.
- Total Revenue changed by 62.96% in FY 2024-2025.
- Profit After Tax changed by 275.78% in FY 2024-2025.
- Reserves & Surplus changed by 267.01% in FY 2024-2025.
- Total Borrowings changed by 29.35% in FY 2024-2025.
| Metric | 2025-12-31 | 2025-03-31 | 2024-03-31 | 2023-03-31 |
|---|---|---|---|---|
| Total Assets (₹ Cr) | 41.02 | 59.89 | 26.46 | 15.82 |
| Total Revenue (₹ Cr) | 45.29 | 79.20 | 48.60 | 40.81 |
| Profit After Tax (₹ Cr) | 2.91 | 6.05 | 1.61 | 0.87 |
| Reserves & Surplus (₹ Cr) | 9.44 | 21.25 | 5.79 | 4.18 |
| Total Borrowings (₹ Cr) | 4.37 | 11.81 | 9.13 | 2.30 |
Accord Transformer & Switchgear Peer Comparison
The following table helps investors compare Accord Transformer & Switchgear IPO with its listed peers based on important financial and valuation parameters as of March 31, 2025.
| # | Company Name | EPS (₹) | P/E (x) | NAV (₹) | P/BV (x) | RoNW (%) |
|---|---|---|---|---|---|---|
| 1 | Danish Power | 34.55 | 25.53 | 162.50 | 3.86 | 18.00 |
| 2 | Transformers and Rectifiers (India) | 7.21 | 74.04 | 42.39 | 5.90 | 17.01 |
| 3 | Voltamp Transformers | 321.65 | 23.04 | 1.00 | 5.08 | 20.50 |
| 4 | Accord Transformer & Switchgear | 4.35 | - | 14.35 | - | 28.10 |
Utilisation of Proceeds
The Company proposes to utilise the net IPO proceeds of approximately ₹46.06 crore towards the following objectives:
| # | Purpose | Amount (₹ Cr) | % of Total |
|---|---|---|---|
| 1 | Capital expenditure towards purchase of machinery and equipment | 13.03 | 28.29% |
| 2 | Funding of working capital requirements | 10.00 | 21.71% |
| 3 | Total | 23.03 | 50.00% |
| Total | 46.06 | 100% | |
Accord Transformer & Switchgear IPO Promoter Holding
| Promoter(s) | Mr. Pradeep Kumar Verma and Mrs Shalini Singh |
|---|---|
| Pre-Issue Holding | 84.94% |
| Post-Issue Holding | 61.98% |
Accord Transformer & Switchgear IPO FAQs
The Accord Transformer & Switchgear IPO is a SME Bookbuilding IPO with a total issue size of ₹25.59 crore. The issue consists of a fresh issue of ₹25.59 crore.
The IPO will open for subscription on Mon, 23 Feb 2026 and will close on Wed, 25 Feb 2026.
The shares are being offered at a fixed issue price of ₹46 per equity share.
Investors can apply for the IPO with a minimum lot size of 3,000 shares.
At the upper price band, the minimum investment required for one lot is approximately ₹276,000.
The shares of Accord Transformer & Switchgear are expected to be listed on BSE & SME on Mon, 02 Mar 2026.
The Grey Market Premium (GMP) of Accord Transformer & Switchgear IPO is ₹4.
The expected listing price of Accord Transformer & Switchgear IPO is around ₹50 based on current GMP. This indicates a potential return of approximately 8.70% , with an estimated profit of ₹12,000 per lot, subject to market conditions.
The Accord Transformer & Switchgear IPO was subscribed 331.08 times on the final day of subscription.
The retail portion is subscribed 361.71 times as of 25 Feb 2026.
The QIB portion is subscribed 153.01 times and the NII portion is subscribed 446.45 times .
The IPO registrar of Accord Transformer & Switchgear is KFin Technologies Limited. KFin is responsible for processing IPO applications, finalizing allotment, crediting shares, and initiating refunds.
The allotment date is expected on Thu, 26 Feb 2026.
Allotment status is generally updated in the evening (6 PM – 10 PM) on Thu, 26 Feb 2026 on the registrar or exchange website.
Shares are expected to be credited by Fri, 27 Feb 2026.
Refunds for unsuccessful applicants will be initiated on Fri, 27 Feb 2026.
Investors can check refund status via:
- UPI mandate / bank account (NACH, NEFT, RTGS)
- ASBA bank portal
Accord Transformer & Switchgear IPO is listed on BSE.
The latest share price of Accord Transformer & Switchgear Limited is currently not available.
Recent price movement data for Accord Transformer & Switchgear Limited is currently not available.
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