Accord Transformer & Switchgear IPO

About the company

Accord Transformers and Switchgear is engaged in the design, engineering, manufacturing and supply of a wide range of electrical power equipment. Its product portfolio includes distribution transformers (up to 2.5 MVA, 36 kV), power transformers (up to 20 MVA, 33 kV), dry-type transformers, solar and special duty transformers, compact and skid-mounted substations (up to 2500 kVA), LV/MV control panels, bus ducts and cable trays and EV charging stations. The company operates manufacturing facilities in Haryana and Rajasthan. For FY25, revenue from products contributed 98.44% and rest by the services segment. Within products, transformers were the core revenue contributor at 78.85%, followed by package substations at 14.10%. Geographically, revenue is diversified with Gujarat contributing 56.06%, Dadra and Nagar Haveli 14.23% and Uttar Pradesh 10.44% in FY25. As on January 18, 2026, the company had an executable order book of ₹164.26 crore. Installed capacity for transformers is 900.36 MVA with capacity utilisation of 69.78% as on Dec 2025. The business is primarily project-driven with top 10 customers contributing over 84.16% of revenue in FY25.

GMP trend (Grey Market Premium by date)

Financial performance (₹ Cr)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   23 Feb 2026

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   25 Feb 2026

   Last day to place your bid

3. Basis of Allotment

   Completed
   26 Feb 2026

   Share allotment finalised

4. Refund Initiation

   Completed
   27 Feb 2026

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   27 Feb 2026

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   02 Mar 2026

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.