Accord Transformer & Switchgear IPO Review 2026: GMP Rises 21.74%, Key Investor Insights

Posted by : Neeraj Pandey | Thu Feb 19 2026

Accord Transformer & Switchgear IPO is open for bidding from 23rd February 2026 to 25th February 2026. It is a bookbuilding IPO of ₹25.59 crore, comprising 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.

Table of Contents

Accord Transformer & Switchgear IPO Details

The Accord Transformer & Switchgear IPO date is fixed between 23rd February 2026 to 25th February 2026. The face value of Accord Transformer & Switchgear shares stands at ₹10 per share, and the IPO Issue price band is set at ₹43 to ₹46 per share

Kfin Technologies Limited is the registrar of the Accord Transformer & Switchgear IPO and is responsible for managing the allotment process and initiating refunds. Check out the latest IPO details in the table below.

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

Accord Transformer & Switchgear IPO Share Reservation

Riddhi Display Equipment’s IPO is a bookbuilding issue of 0.56 crore shares, worth ₹25.59 crore. Accord Transformer & Switchgear IPO Limited shares will be listed on the BSE and the SME Exchange. Furthermore, SEBI has specified the share reservation criteria for different investor categories.

Investor Categories	Shares Offered	Shares Percentage
Market Maker Shares Offered	2,82,000	5.07%
QIB Shares Offered	26,40,000	47.46%
NII (HNI) Shares Offered	7,92,000	14.24%
Retail Shares Offered	18,48,000	33.23%
Total Shares Offered	55,62,000	100.00%

Accord Transformer & Switchgear IPO GMP Grey Market Premium

GMP is the gap between the issue price band and the price at which company shares are currently trading in the grey market. Do you want to get live updates on the Accord Transformer & Switchgear IPO? If yes, then you’ve reached the right spot. Check the table below to learn about the GMP trends.

GMP DATE	IPO Price	GMP Price	Estimated Listing Price	Estimated Gain
25-2-2026	–	–	–	–
24-2-2026	–	–	–	–
23-2-2026	₹46.00	₹10.00	₹56.00	21.74%
22-2-2026	₹46.00	₹10.00	₹56.00	21.74%
21-2-2026	₹46.00	₹10.00	₹56.00	21.74%
20-2-2026	₹46.00	₹10.00	₹56.00	21.74%
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%

As of 23rd February 2026, Accord Transformer & Switchgear IPO GMP stands at ₹10.00 per share, which means the share will likely list at ₹56.00 on its tentative listing date, 2nd March 2026.

GMP data is subject to change based on market trends and sentiments. You should check the live GMP status before applying for the Accord Transformer & Switchgear IPO GMP. Stay informed with Univest for real-time insights into IPOs and their GMP trends.

Accord Transformer & Switchgear IPO GMP Review

Check out the detailed Accord Transformer & Switchgear GMP IPO review for a thorough understanding of its potential to report listing gains on 2nd March 2026. The Accord Transformer & Switchgear IPO review below will help you invest effectively to avoid significant losses. Explore more to make informed investment decisions on this IPO.

Financial Health

Assess a company’s financial performance to know about its ability to sustain a competitive edge. Thus, it is essential to understand the business’s economic growth and decline before applying for the Accord Transformer & Switchgear IPO.

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’s IPO has shown consistent revenue growth, indicating the company’s financial stability. Moreover, brokers, investors, and RAs have a positive outlook for the Accord Transformer & Switchgear IPO, with its tentative listing day set for 2nd March 2026.

Technical Analysis

Several technical indicators are available to assess a company’s potential to deliver returns. Use the parameters mentioned below to analyse the technicals of the Accord Transformer & Switchgear IPO.

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

Accord Transformer & Switchgear IPO Subscription Status

The Accord Transformer & Switchgear IPO will open for bidding on 23rd February 2026. The subscription status for this IPO is yet to be announced. Stay informed on this passage to check the live Accord Transformer & Switchgear IPO Subscription Status.

Investor Categories	Shares Offered	Shares Percentage	Shares Subscribed	Subscription to the Times
Market Maker Shares Offered	2,82,000	5.07%	Yet to be announced	Yet to be announced
QIB Shares Offered	26,40,000	47.46%	Yet to be announced	Yet to be announced
NII (HNI) Shares Offered	7,92,000	14.24%	Yet to be announced	Yet to be announced
Retail Shares Offered	18,48,000	33.23%	Yet to be announced	Yet to be announced
Total Shares Offered	55,62,000	100.00%	Yet to be announced	Yet to be announced

About Accord Transformer & Switchgear Limited

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 IPO Promoter Holdings

Have a look at the table below to check the holdings of Ashish Kankaria, Shruti A. Kankaria, Ambica Capital Markets Limited, and Gold View Financial Services Limited.

Shareholding Pre-Issue	84.94%
Shareholding Post-Issue	61.98%

Note: The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue.

Aim of the Accord Transformer & Switchgear IPO

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

Should I Invest in the Accord Transformer & Switchgear IPO?

Explore the pros and cons of the Accord Transformer & Switchgear to know whether you should apply or avoid the issue. These pros and cons might help you understand the IPO’s efficiency in delivering profits over the coming decades.

Pros of the Accord Transformer & Switchgear IPO

The company has strong recent financial growth.
The company has niche manufacturing & a diversified product range.
The Company’s Use of IPO Proceeds for Growth

Cons of the Accord Transformer & Switchgear IPO

The company has an SME IPO & liquidity limitations.
The company is Customer & Revenue Concentration
The company has leased premises & operational risk.

How to Apply for the Accord Transformer & Switchgear IPO?

Check the steps mentioned below to apply for Accord Transformer & Switchgear Ltd.

Step 1: Conduct thorough research on the Accord Transformer & Switchgear IPO GMP, subscription status, issue size, lot size, and other details.
Step 2: Open a demat account with Univest to access real-time insights on GMP and subscription status. You can also use your previous demat account by navigating to the IPO section.
Step 3: Make a bid for 2 lots of 6,000 shares worth ₹2,76,000.
Step 4: You will receive a mandate request after making a bid. Approve the request to proceed further.

Note: You can apply for the Accord Transformer & Switchgear IPO across multiple demat accounts to increase your chances of allotment.

How to Check the Accord Transformer & Switchgear IPO Allotment Status?

You can check for the Accord Transformer & Switchgear IPO allotment in different ways. These include BSE and the registrar portal. Follow the steps below to check your allotment status online.

Check On BSE

Visit the BSE Official Site
Navigate to the IPO Allotment Section.
Select Equity as the issue type.
Choose the Accord Transformer & Switchgear IPO.
Choose whether to proceed with the PAN number or the application number.
Submit your details to get the allotment status online.

Check On the Registrar Portal

Visit the registrar portal.
Click on the allotment option.
Fill in the required details.
Click on the submit button to know your Accord Transformer & Switchgear IPO allotment status.

Let’s Wrap

Accord Transformer & Switchgear IPO is a bookbuilding issue of shares worth ₹25.59 crores. The shares of Accord Transformer & Switchgear Limited will be listed on BSE and SME on its tentative listing date of 2nd March 2026. Researching the Accord Transformer & Switchgear IPO GMP and reviews is highly recommended to achieve your desired profitability. Brokers and investors have highlighted their pros and cons, so one must analyse them and decide accordingly.

Open a demat account on Univest now to initiate your investment journey!

FAQs on Accord Transformer & Switchgear IPO

How is the Accord Transformer & Switchgear IPO?

Ans. Currently, on 23rd February 2026, the Accord Transformer & Switchgear GMP (Grey Market Premium) stands at ₹10. It indicates that the estimated listing price could be ₹56.00 per share. It is a bookbuilding IPO of ₹25.59 shares. The face value of each Accord Transformer & Switchgear share is ₹10 per share.

What is the Accord Transformer & Switchgear IPO price?

Ans. The Accord Transformer & Switchgear IPO issue price band is set at ₹43 to ₹46 per share.

Is the Accord Transformer & Switchgear IPO a good investment?

Ans. 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.

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

Ans. 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.

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

Ans. Accord Transformer & Switchgear IPO is a bookbuilding IPO of ₹25.59 crores. Moreover, the IPO is set to open on 23rd February 2026 and close on 25th February 2026.

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.