Accord Transformer & Switchgear Limited IPO
Accord Transformer & Switchgear Limited IPO
Price Band
₹43 - ₹46
Total Issue
₹25.59 Cr
Bid Dates
23 Feb - 25 Feb
Subscription
332.11x
Est. GMP
₹6 (13.04%)
Tentative Timetable
Business Overview
Accord Transformer & Switchgear is engaged in the design, engineering, manufacturing and supply of a comprehensive range of transformers, control panels and distribution equipment catering to both standard and customized requirements. The Company serves diverse sectors including power transmission and distribution, renewable energy, industrial applications, infrastructure and EV charging networks. It operates two manufacturing facilities in Rajasthan, supported by a corporate office in Gurugram, equipped with advanced machinery and in-house testing laboratories to ensure product reliability and compliance. Its integrated management system is certified under ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018. Through its technical expertise and quality-focused approach, the Company aims to deliver efficient, durable and performance-driven electrical solutions to institutional customers.
Lot Info
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Individual (Min) | 2 | 6,000 | ₹2,76,000 |
| Individual (Max) | 2 | 6,000 | ₹2,76,000 |
| S-HNI (Min) | 3 | 9,000 | ₹4,14,000 |
| S-HNI (Max) | 7 | 21,000 | ₹9,66,000 |
| B-HNI (Min) | 8 | 24,000 | ₹11,04,000 |
Issue Size
Objects of the Issue
A1
A2
A3
Grey Market Premium
| Date | GMP (₹) | Est. Price |
|---|---|---|
| 27 Feb | ₹6 (13%) | ₹52 |
| 26 Feb | ₹6 (13%) | ₹52 |
| 25 Feb | ₹16 (34.8%) | ₹62 |
| 24 Feb | ₹13 (28.3%) | ₹59 |
| 23 Feb | ₹13 (28.3%) | ₹59 |
| 22 Feb | ₹17 (37%) | ₹63 |
| 21 Feb | ₹17 (37%) | ₹63 |
| 20 Feb | ₹12 (26.1%) | ₹58 |
| 19 Feb | ₹10 (21.7%) | ₹56 |
| 18 Feb | ₹8 (17.4%) | ₹54 |
| 17 Feb | ₹5 (10.9%) | ₹51 |
Accord Transformer & Switchgear Limited IPO Peer Comparison
(Rs. in crores)
| Particulars | Accord | Danish Power | Transformers & Rectifiers | Voltamp Transformers |
|---|---|---|---|---|
| Revenue | 79.02 | 426.71 | 2,019.38 | 1,616.22 |
| PAT | 6.05 | 57.59 | 216.44 | 307.36 |
| EPS (₹) | 4.35 | 34.55 | 7.21 | 321.65 |
| NAV (₹) | 14.35 | 162.50 | 42.39 | 1,569.24 |
| RONW | 28.10% | 18.00% | 17.01% | 20.50% |
| EBITDA | 11.49% | 20.57% | 17.51% | 24.12% |
| PAT Mrgn | 7.66% | 13.50% | 10.72% | 19.02% |
| PE Ratio | 10.57 | 18.09 | 34.43 | 24.76 |
| Debt to Equity | 0.55 | 0.01 | 0.22 | - |
All information pertains to FY 2024-25. PE ratio is calculated using the Upper Price Band for the Issuer and the closing price as of September 22, 2025 for Peers
Financial Performance
(Rs. in crores)
| Particulars | Dec-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| Revenue | 45.22 | 79.02 | 48.54 | 40.78 |
| PAT | 2.91 | 6.05 | 1.61 | 0.88 |
| Net Worth | 24.45 | 21.54 | 6.04 | 4.43 |
| Borrowings | 4.37 | 11.81 | 9.13 | 2.30 |
| Assets | 41.02 | 59.89 | 26.46 | 15.82 |
| NAV (₹) | 16.29 | 14.35 | 4.74 | 3.48 |
| EPS (₹) | 1.94 | 4.35 | 1.26 | 0.69 |
KPIs
EBITDA
11.49%
PAT
7.66%
ROAE
43.90%
ROCE
26.09%
Debt to Equity
0.55
PE Ratio
10.57
PB Ratio
3.21
Mkt Cap (in Crs.)
94.64
- All the data pertains to FY 2024-25.
- PE, PB, and market capitalization are calculated based on the Upper Price Band.
Shareholding
Promoter
84.94%
Public
15.06%
Management
Subscription Status
Updated as on 25 Feb 2026 | 06:58:37 PM
| Category | Sub (x) | Offered | Bids |
|---|---|---|---|
| QIB | 153.01x | 10,56,000 | 16,15,83,000 |
| NII | 606.02x | 7,92,000 | 47,99,70,000 |
| bHNI | 709.68x | 5,28,000 | 37,47,12,000 |
| sHNI | 398.70x | 2,64,000 | 10,52,58,000 |
| Individual Investor | 367.59x | 18,48,000 | 67,93,02,000 |
| Total | 357.37x | 36,96,000 | 1,32,08,55,000 |
Frequently Asked Questions
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How to apply Accord Transformer & Switchgear Limited IPO in Zerodha?
- Go to Kite App → Tap on Bids → Tap on IPO
- Select the IPO → Tap on apply → Enter UPI ID
- Enter Qty and Price
- Submit the application
- Approve the UPI Mandate on your UPI app
How to apply Accord Transformer & Switchgear Limited IPO in Groww?
- Go to Groww App → Stocks Section → Select IPO option
- Select the IPO you want to apply
- Enter your bid details and price
- Enter UPI ID & submit
- Approve the UPI Mandate on your UPI app
How to apply Accord Transformer & Switchgear Limited IPO using ASBA?
- Log in to your bank's net banking portal.
- Navigate to the 'IPO' or 'ASBA' section.
- Select Accord Transformer & Switchgear Limited IPO from the list of available IPOs.
- Enter the required details: Bid quantity, Price, DP ID & Client ID, etc
- Submit the application.
- Money will remain blocked till the refund date