Accord Transformer IPO Details
The key details of Accord Transformer & Switchgear’s IPO are outlined below, covering all crucial aspects from price range to investment requirements and regulatory documents.
| IPO Size | ₹26 Crores |
| Price Range | ₹43 - ₹46 |
| Retail Quota | 35% |
| QIB Quota | 50% |
| NII Quota | 15% |
| Employee Discount | -- |
| Listing at | NSE |
| Minimum Quantity | 6,000 |
| Investment (cut-off price) | ₹2,76,000 |
| Pre IPO Promotor Holding | 84.94% |
| Post IPO Promotor Holding | 61.98% |
| DHRP Draft | Click Here |
| RHP Draft | Click Here |
| Anchor Investors List | Click Here |
Accord Transformer IPO Timelines
The IPO process for Accord Transformer & Switchgear includes key dates for participants to know. The timeline allows for strategic planning and participation, helping investors stay informed and engaged throughout the entire process.
23/02/2026
Start Date25/02/2026
End Date27/02/2026
Refund Initiation27/02/2026
Credit of Shares to Demat Ac02/03/2026
Listing DateAccord Transformer IPO Lot Size
The Accord Transformer & Switchgear IPO has a fixed lot size of 3,000 shares, at an upper price band of ₹46 per share. For retail investors, the minimum and maximum application is 6,000 shares (2 lots) amounting to ₹2,76,000. For Small HNI (S-HNI) investors, the minimum application is 9,000 shares (3 lots) worth ₹4,14,000, while the maximum is 21,000 shares (7 lots) amounting to ₹9,66,000. Big HNI (B-HNI) investors need to apply for at least 24,000 shares (8 lots), totaling ₹11,04,000.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 6000 | ₹2,76,000 |
| Retail Maximum | 2 | 6000 | ₹2,76,000 |
| S-HNI Minimum | 3 | 9000 | ₹4,14,000 |
| S-HNI Maximum | 7 | 21000 | ₹9,66,000 |
| B-HNI Minimum | 8 | 24000 | ₹11,04,000 |
Accord Transformer IPO Subscription Status
The subscription status for Accord Transformer & Switchgear IPO shows market demand across different investor categories, providing valuable insights into the offering’s performance. You can track real-time subscription data below.
| QIB | NII | Retail | EMP | Total |
|---|---|---|---|---|
IPO Performance on Listing Day
| Opening Price | Closing Price | Day High | Day Low |
|---|---|---|---|
| ₹ | ₹ | ₹ | ₹ |
Accord Transformer IPO Company Financials
Accord Transformer & Switchgear reports robust performance in FY2025 with Total Income of ₹79.20 crores, managing expenses at ₹71.03 crores, and achieving a strong PAT (Profit After Tax) of ₹6.05 crores, demonstrating significant growth potential ahead of its public offering.
| Year | Total Income | Total Expense | PAT |
|---|---|---|---|
| FY 2023 | ₹40.81 | ₹39.59 | ₹0.87 |
| FY 2024 | ₹48.60 | ₹46.46 | ₹1.61 |
| FY 2025 | ₹79.20 | ₹71.03 | ₹6.05 |
| FY 2026 (9 M) | ₹45.29 | ₹41.40 | ₹2.91 |
About Company
Accord Transformer & Switchgear Ltd., incorporated in 2014, is engaged in the design, engineering, manufacturing, and supply of a wide range of electrical power and distribution equipment. With over a decade of experience, the company serves standard and customised requirements across power transmission and distribution, renewable energy, industrial applications, infrastructure projects, and electric vehicle charging networks. The product portfolio includes 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, and special purpose transformers such as solar, wind inverter duty, and furnace duty transformers.
The company also manufactures low voltage control panels, LV control switchboards, APFC panels, medium voltage and vacuum circuit breaker panels, industrial panels, customised Prisma Set control panels in collaboration with Schneider Electric, package substations, busducts, cable trays, and related switchgear assemblies. Two manufacturing facilities in Bhiwadi Rajasthan and a registered office in Manesar Haryana support operations, equipped with advanced machinery and in house testing laboratories for comprehensive power system solutions. As of December 31, 2025, the organization employed 114 permanent employees.
| Incorporation Date | Sector | Managing Director |
|---|---|---|
| 2014 | Electricals | Pradeep Verma |
Know Before Investing
Accord Transformer IPO Strengths
- India’s grid modernization, renewable integration, and 20% CAGR transformer demand create multi-year sector growth opportunity.
- Specialized inverter-duty transformers and charging equipment tap fast-emerging domestic EV infrastructure buildout.
- ₹13 crore vapour phase drying plant enhances power transformer capabilities up to 20 MVA for utility orders.
- Dramatic profit growth per DRHP reflects margin expansion from premium products and operational leverage.
- Established facilities support diverse product mix from distribution to specialized dry-type transformers.
- Power capex revival and PLI scheme momentum position company for utility/DISCOM order acceleration.
Accord Transformer IPO Risks
- CRGO steel, copper, and insulation oil prices impact margins absent pass-through pricing power.
- Established players like Bharat Bijlee, IMP Powers pressure tender margins and market share.
- Early-stage charging infra exposure carries technology adoption and standardization risks.
- Lower trading volumes versus mainboard create volatility and exit challenges for investors.
- Vapour phase drying plant delays impact FY26 revenue ramp-up and ROCE trajectory.
- Rajasthan facilities vulnerable to power disruptions or logistics bottlenecks during peak summer.
- Utility orders subject to government capex cycles and payment delays creating cash flow lumpiness.
Swot Analysis for Accord Transformer IPO
Strengths
Multi-Facility Operations, High Profitability, Experienced Leadership
Weaknesses
Extended Debtor Days, Debt Dependency, Geographic Tilt
Opportunities
Renewable Integration, Export Expansion, Green Energy Push
Threats
Commodity Volatility, Regulatory Compliance, Import Pressure
Company 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 Registar Details
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: accord.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
FAQs
The key objectives of Accord Transformer SME IPO are:
- Capital expenditure towards purchase of machinery and equipment
- Funding of working capital requirements
- General corporate purposes
GYR Capital Advisors Pvt. Ltd. is the book-running lead managers for the Accord Transformer IPO.
Accord Transformer shows strong growth potential backed by FY25 revenue of ₹82.8 crore rising 62% year on year and a robust ₹164 crore order book nearly two times revenue, indicating healthy demand visibility. With 28 percent ROE and expanding presence in power and EV infrastructure, scalability prospects remain compelling.
The issue price for the Accord Transformer IPO is set between ₹43 to ₹46 per share.
To invest in two lot of Accord Transformer IPO, you need ₹2,58,000 at the lower price band (₹43 per share) or ₹2,76,000 at the upper price band (₹46 per share) for a lot size of 6,000 shares.
Accord Transformer IPO shares are scheduled to be listed on the Bombay Stock Exchange (BSE) on March 2, 2026.
Refund/unblocking of funds for Accord Transformer IPO will begin on February 27, 2026. ASBA/UPI blocks will be removed within 1 working day.
You can sell shares your Accord Transformer IPO shares on listing day (March 2, 2026) after they are credited to your demat account. If you want to sell in the pre-open market, the timing for that session is from 9:00 AM to 9:15 AM. Otherwise, you can sell after 10:00 AM during regular trading hours.