Accord Switchgear SME IPO 2026 – Full Details, Financials & Market Premium
Latest Grey Market Premium & IPO Details
Accord Transformer & Switchgear IPO 2026 – Key Info & Highlights
Accord Transformer & Switchgear SME IPO 2026 witnessed strong investor interest during its subscription period from 23 to 25 February 2026. By the end of Day 3, the IPO was subscribed 322.08% overall, reflecting solid demand across investor categories. The company is scheduled to list on the BSE SME on 2 March 2026.
📌 IPO Details
| Company Name | Accord Transformer & Switchgear IPO |
|---|---|
| Sector / Industry | Heavy Electrical Equipment |
| IPO Open Date | 23-02-2026 |
| IPO Close Date | 25-02-2026 |
| Allotment Date | 26-02-2026 |
| Refund Date | 27-02-2026 |
| Share Credit Date | 27-02-2026 |
| Listing Date | 02-03-2026 |
| Price Band | ₹43 - ₹46 |
| Lot Size | 3000 Shares |
| Min Investment | ₹2,76,000 ( 2 lots Price ) |
| Total Issue Size | ₹25.59 Cr |
| Reserved for Market Maker | ₹1.30 Cr |
| Net Issue Size | ₹24.29 Cr |
| Fresh Issue | ₹24.29 Cr |
| IPO Listing At | BSE SME |
| DRHP | View DRHP |
| RHP | View RHP |
| Issue Type | Book Build Issue |
| Face Value | ₹10 Per Equity Share |
| Promoter Holding Pre IPO | 84.94 % |
| Promoter Holding Post IPO | 61.98% |
| Min Small HNI Lots | ₹4,14,000 ( 3 lots Price ) |
| Min Big HNI Lots | ₹11,04,000 ( 8 lots Price ) |
* All Dates are provisional
Quota Allocation
| Category | Allocation (%) |
|---|---|
| Retail Investors | 33.23% |
| QIB (Qualified Institutional Buyers) | 28.48% |
| Anchor Investors | 18.99% |
| HNI (High Net Worth Individuals) | 14.24% |
| Reserved for Market Maker | 5.07% |
📈 Grey Market Premium (GMP) Day-wise Trend
| GMP Date | GMP Price | Trend | Estimated Listing Price | Estimated Profit* | Last Updated |
|---|---|---|---|---|---|
| 02-03-2026 | ₹4.00 | - | ₹50.00 | ₹12000.00 | 02-03-2026 09:47 |
| 01-03-2026 | ₹4.00 | - | ₹50.00 | ₹12000.00 | 01-03-2026 23:20 |
| 28-02-2026 | ₹4.00 | - | ₹50.00 | ₹12000.00 | 28-02-2026 23:20 |
📝 About Accord Transformer & Switchgear
Accord Transformer & Switchgear Limited offers a diversified portfolio of electrical power solutions designed to serve utilities, industrial units, EPC contractors, renewable energy projects, and infrastructure developments. The company provides engineered products that comply with industry standards and are tailored to specific client requirements.
Transformers
The company manufactures a wide range of transformers built for reliability, efficiency, and long operational life:
-
Distribution Transformers – Rated up to 2.5 MVA, 36 kV, suitable for industrial and utility power distribution networks.
-
Power Transformers – Rated up to 20 MVA, 33 kV, designed for substations and heavy-load industrial applications.
-
Dry-Type Transformers – Rated up to 5000 KVA, 36 kV, ideal for commercial buildings, hospitals, and indoor installations where fire safety is critical.
-
Specialized Transformers – Including solar transformers, wind inverter-duty transformers, and furnace-duty transformers developed for renewable energy and high-load industrial environments.
Each transformer undergoes stringent testing procedures to ensure operational safety, energy efficiency, and compliance with regulatory standards.
Control Panels & Switchgear
Accord Transformer & Switchgear also offers advanced electrical panels and switchgear systems for power management and distribution:
-
Low-Voltage (LV) Control Panels & Switchboards – Including APFC panels for power factor correction and efficient energy utilization.
-
Medium-Voltage (MV) Panels & VCB Panels – Designed for reliable switching, protection, and control in industrial and substation environments.
-
Industrial Control Panels – Customized solutions tailored for automation and process control systems.
-
Prisma Set Control Panels – Developed in association with Schneider Electric, ensuring global-quality standards and enhanced safety.
-
Package Substations, Bus Ducts, Cable Trays & Allied Systems – Complete turnkey electrical distribution solutions for industrial and infrastructure projects.
The company focuses on delivering integrated electrical solutions that improve energy efficiency, ensure system protection, and support scalable power infrastructure.
Accord Transformer & Switchgear Revised Financials
Profit / Loss & Total Assets (Last 3 Years)
| Financial Year | Revenue (₹ Cr) | Profit / Loss (₹ Cr) | Total Assets (₹ Cr) |
|---|---|---|---|
| FY 2023 | 40.81 | +0.87 | 15.82 |
| FY 2024 | 48.60 | +1.61 | 26.46 |
| FY 2025 | 79.20 | +6.05 | 59.89 |
Note: Positive figures indicate profit. Revenue and assets are reported in ₹ Crore.
Accord Transformer & Switchgear Limited – Objects of Issue
- ₹13.03 Cr – Capital Expenditure towards Purchase of Machinery and Equipment
The company proposes to invest in new machinery and equipment to enhance manufacturing capacity, improve operational efficiency, and meet growing demand. - ₹10.00 Cr – Funding of Working Capital Requirements
Funds will be utilized to support day-to-day business operations, including procurement of raw materials, inventory management, and execution of customer orders. - Balance Amount – General Corporate Purposes
The remaining proceeds will be used for corporate initiatives such as administrative expenses, strategic growth activities, and strengthening the overall financial position. - Total Size – ₹23.03 Cr
Accord Transformer & Switchgear Limited – Strengths
- Strong Manufacturing Capabilities – Equipped with in-house production facilities for transformers and switchgear equipment, ensuring quality control and timely execution of orders.
- Diverse Product Portfolio – Offers a wide range of power and distribution transformers along with electrical panels and switchgear solutions catering to various industrial needs.
- Growing Order Book – Consistent inflow of orders from industrial and infrastructure sectors supports revenue visibility and business expansion.
- Experienced Promoters and Technical Team – Leadership with industry knowledge and technical expertise in electrical equipment manufacturing.
- Focus on Quality and Compliance – Adherence to industry standards and testing procedures ensures reliability and long-term customer trust.
Accord Transformer & Switchgear Limited – Risk Factors
- Geographical Concentration Risk – A significant portion of the company’s revenue is derived from operations concentrated in specific regions. Any adverse economic, regulatory, or competitive developments in these regions may materially affect business performance.
- Working Capital Dependency – The company’s operations are working capital intensive. Delays in receivables or inability to secure adequate financing facilities may impact liquidity and operational efficiency.
- Volatility in Raw Material Prices – Key inputs such as copper, aluminum, CRGO steel, and other electrical components are subject to price fluctuations, which may adversely impact profit margins if not effectively managed.
- Order-Based Revenue Model – Revenue depends largely on successful bidding and execution of orders. Any delay, cancellation, or failure to secure new contracts could negatively affect financial results.
- Competitive Industry Landscape – The transformer and switchgear industry includes several established players with larger scale and resources. Intense competition may result in pricing pressure and reduced margins.
Accord Transformer & Switchgear Limited
Power & Electrical Equipment Manufacturer – Transformers and Switchgear Solutions in India
| Founded in: | 2014 |
|---|---|
| Address: | Unit No. 724, Seventh Floor Eros Corporate Park, K Block, Sector 2 IMT Manesar, Manesar Gurgaon, – 122052 India |
| Website: | https://atsgroup.in/ |
| Phone: | 85274 22944 |
| Email: | compliance@atsgroup.in |
| Services: | Manufacturing of Power Transformers, Distribution Transformers, Electrical Panels, and Switchgear Equipment. |
IPO Quick Info
23 Feb 2026
25 Feb 2026
Upcoming
Lead Manager(s)
- GYR Capital Advisors Pvt.Ltd.
Related IPOs
- Bagmane REIT
- Recode Studios
- OnEMI Technology
- Value 360 Communications
- Amba Auto Sales & Services
- Adisoft Technologies
- Leapfrog Engineering
- Citius Transnet InvIT
- Mehul Telecom
- Om Power Transmission
- Propshare Celestia
- Safety Controls
- Emiac Technologies
- Vivid Electromech
- Highness Microelectronics
- Sai Parenterals Limited
- Powerica Limited
- Speciality Medicines
- Tipco Engineering
- Amir Chand Jagdish Kumar
Frequently Asked Questions
The company manufactures distribution transformers, power transformers, dry-type transformers, and specialized transformers such as solar and inverter-duty transformers.