Accord Transformer & Switchgear IPO Day 1: Subscription at 3.69x, GMP Rises 28.26% | Live Updates

Posted by : Neeraj Pandey | Mon Feb 23 2026

The Accord Transformer & Switchgear IPO GMP is ₹13 as of 23rd February 2026. It is a book-building issue IPO of ₹25.59 crores. This is an entirely fresh issue of 0.56 crore shares. The issue will be listed on BSE and SME on its tentative listing date, 2nd March 2026. The face value of Accord Transformer & Switchgear IPO shares is ₹10 per share, and the IPO price band is ₹43 to ₹46 per share. Retail investors can bid for a minimum of 2 lots of 6,000 shares worth ₹2,76,000. Scroll down to check the Accord Transformer & Switchgear IPO GMP and subscription details.

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Accord Transformer & Switchgear IPO GMP Grey Market Premium

As mentioned earlier, the Accord Transformer & Switchgear IPO GMP currently stands at ₹13.00 per share. Thus, the estimated listing price would be at ₹59.00. This indicates that the estimated listing gain in this IPO could be 28.26%. Explore the table for Accord Transformer & Switchgear IPO GMP updates.

GMP DATE	IPO Price	GMP Price	Estimated Listing Price	Estimated Gain
23-2-2026	₹46.00	₹13.00	₹59.00	28.26%
22-2-2026	₹46.00	₹17.00	₹63.00	36.96%
21-2-2026	₹46.00	₹17.00	₹63.00	36.96%
20-2-2026	₹46.00	₹12.00	₹58.00	26.09%
19-2-2026	₹46.00	₹10.00	₹56.00	21.74%
18-2-2026	₹46.00	₹12.00	₹58.00	26.09%
17-2-2026	₹46.00	₹8.00	₹54.00	26.09%
16-2-2026	₹46.00	₹8.00	₹54.00	26.09%
15-2-2026	₹46.00	₹8.00	₹54.00	26.09%

Note: GMP details are subject to change based on market conditions and fluctuations. Check the live Accord Transformer & Switchgear IPO GMP status at Univest.

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Accord Transformer & Switchgear IPO Subscription Status

As of now, the Accord Transformer & Switchgear IPO has been subscribed to 3.87 times. Of these, 6.28 times are subscribed by retail investors, 3.41 times by non-institutional investors, and 0.00 times by QII (Qualified Institutional Investors).

The healthy subscription status indicates that investors are expecting higher returns at the time of Accord Transformer & Switchgear’s IPO listing on 2nd March 2026. Accord Transformer & Switchgear also has a positive outlook behind the fresh issue of 0.56 crore shares, which will raise around Rs 25.59 crores.

Note: GMP details are subject to change based on market conditions and fluctuations. Check the live Accord Transformer & Switchgear IPO Subscription status at Univest.

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Accord Transformer & Switchgear IPO Details

IPO Allotment Date	26th February 2026
IPO Open Date	23rd January 2026
IPO Close Date	25th February 2026
Refund Initiation	27th February 2026
Issue Size	55,62,000 shares(agg. up to ₹26 Cr)
Face Value	₹10 per share
Lot Size	3,000 Shares
Issue Price	₹43 to ₹46 per share
Issue Type	Bookbuilding IPO
Listing At	BSE SME
Listing Date	2nd March 2026

Also Read: Accord Transformer & Switchgear IPO GMP & Review: Apply or Avoid?

Explanation

Accord Transformer & Switchgear IPO: Accord Transformer & Switchgear IPO Limited has declared an issue price band of ₹43 to ₹46 per share. With this IPO, the company allows retail investors to bid for at least 2 lots of 6,000 shares, each worth ₹2,76,000. The face value of Accord Transformer & Switchgear IPO Limited shares is ₹10 per share. The shares of Accord Transformer & Switchgear IPO Limited will be listed on BSE and SME on its tentative listing day, 2nd March 2026. Scroll down to check GMP updates and Accord Transformer & Switchgear IPO reviews.

About Accord Transformer & Switchgear Ltd.

Accord Transformer & Switchgear Ltd. was formed in 2014 and is a well-established firm that deals with the design, engineering, manufacturing, and supply of a diversified range of electrical power and distribution equipment. The firm has more than 10 years of experience in meeting the standard as well as customised demands of clients in the power transmission and distribution, renewable energy, industrial, infrastructure development, and electric vehicle charging station sectors.

Accord Transformer & Switchgear Limited Financials

The company’s financial analysis is essential before applying for the Accord Transformer & Switchgear IPO. See the table for Accord Transformer & Switchgear Limited’s financials.

Year Ended	31st Dec 2025 (in cr.)	31st March 2025 (in cr.)	31st March 2024 (in cr.)	31st March 2023 (in cr.)
Assets	41.02	59.89	26.46	15.82
Revenue	45.29	79.20	48.60	40.81
Profit After Tax	2.91	6.05	1.61	0.87
EBITDA	4.62	9.10	2.67	1.54
Net Worth	24.45	21.54	6.04	4.43
Reserves and Surplus	9.44	21.25	5.79	4.18
Total Borrowings	4.37	11.81	9.13	2.30

Explanation

Accord Transformer & Switchgear Limited’s revenue increased by 62.96% from ₹48.60 crores in March 2024 to ₹79.20 crores in March 2025. Moreover, the company’s PAT increased by 275.77% from ₹1.61 crores in March 2024 to ₹6.05 crores in March 2025.

Accord Transformer & Switchgear IPO Objectives

The primary aim of the Accord Transformer & Switchgear IPO is to raise ₹25.59 crores. On the other hand, Fractal Analytics has decided to utilise these funds in different ways.

To Capital expenditure towards the purchase of machinery and equipment
To the funding of working capital requirements
To General Corporate Purposes

Accord Transformer & Switchgear IPO Registrar

Kfin Technologies Limited is the registrar for the Accord Transformer & Switchgear IPO, awaiting the allotment process and initiating refunds. For any queries regarding the Accord Transformer & Switchgear allotment and refund, you can contact Kfin Technologies Limited at accord.ipo@kfintech.com or at 04067162222, 04079611000.

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Accord Transformer & Switchgear IPO Review

The Accord Transformer & Switchgear IPO has gained neutral ratings from industry experts, brokers, and institutional investors. Accord Transformer & Switchgear Limited’s revenue increased by 62.96% from ₹48.60 crores in March 2024 to ₹79.20 crores in March 2025. Moreover, the company’s PAT increased by 275.77% from ₹1.61 crores in March 2024 to ₹6.05 crores in March 2025. Most analysts recommend applying for this IPO to diversify your investment portfolio. However, we’re waiting for additional ratings to get a clearer picture and will keep posting them to deliver real-time insights. Until then, you can explore the company’s technical analysis to know whether you should apply for the Accord Transformer & Switchgear IPO or not.

Key Indicators	Value
PE Ratio (Price-to-Earnings)	11.41
EPS (Earnings Per Share)	4.03
RoNW	11.91%
ROCE	14.52%
ROE	12.67%
EBITDA Margin	10.19%
Price to Book Value	2.82
Market Capitalisation	₹94.64

The P/E ratio of Accord Transformer & Switchgear Limited shares is 11.41, and its Earnings Per Share (EPS) stands at 4.03. Thus, the Accord Transformer & Switchgear IPO can deliver gains on its tentative listing date, 2nd March 2026.

Note: The data, as mentioned above, is taken from authentic sources and highlights pre-issue information. The PE ratio and EPS of Accord Transformer & Switchgear Limited are subject to change after the IPO. Explore the table below to get post-issue updates on these two metrics.

Indicators	Pre-IPO	Post-IPO
PE Ratio	11.41	15.63
EPS	4.03	2.94

FAQs on Accord Transformer & Switchgear IPO

What is the Accord Transformer & Switchgear IPO GMP?

Currently, on 23rd February 2026, the Accord Transformer & Switchgear IPO GMP (Grey Market Premium) stands at ₹13.00. This indicates that the estimated listing price could be ₹59.00 per share.

What is the issue price of the Accord Transformer & Switchgear IPO?

The Accord Transformer & Switchgear IPO issue price band is set at ₹43.00 to ₹46.00 per share. Retail investors can apply for a minimum of 2 lots, each consisting of 6,000 shares, worth ₹2,76,000. Moreover, HNIs are required to bid for a minimum of 3 lots (9,000 shares) worth ₹4,14,000.

Who is the registrar of the Accord Transformer & Switchgear IPO?

Disclaimer: The above information is compiled from authentic sources and is just for informational purposes. To have detailed information about the Accord Transformer & Switchgear IPO, download the Accord Transformer & Switchgear IPO RHP and Accord Transformer & Switchgear IPO DRHP. Conduct your research before investing in IPOs to avoid significant losses. You can also consult your financial advisor.