Accord Transformer & Switchgear came to market through an SME IPO that opened on 23 February 2026 and closed on 25 February 2026, and the shares listed on 2 March 2026 on BSE SME. The price band was ₹43 to ₹46 per share and one lot was 3000 shares, so the minimum application was ₹1,38,000. The issue size was ₹25.59 crore. The whole issue was fresh shares, so the money raised went to the company.
Kfin Technologies Ltd was the registrar to the issue, and GYR Capital Advisors Pvt.Ltd was the lead manager.
As of 25 February 2026.
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Accord Transformer & Switchgear Ltd., incorporated in 2014, is a well-established company dealing with the design, engineering, manufacturing, and supply of a diversified range of electrical power and distribution equipment.With more than 10 years of experience, the company meets the standard and customized demands of clients from different sectors, such as power transmission and distribution, renewable energy, industrial use, infrastructure development projects, and electric vehicle charging infrastructure. Product Portfolio: Accord Transformer & Switchgear Ltd.
provides a wide range of products, which include: 1. Transformers 2. Control Panels & Switchgear The company has two manufacturing units in Bhiwadi, Rajasthan, with its registered office in Manesar, Haryana. The company has advanced machinery like plasma cutting systems, foil winding machines, shot blasting and painting booths, and fully equipped in-house testing labs, which provide expertise in the design, manufacture, testing, and implementation of critical power systems. As of August 31, 2025, the company employed 117 permanent staff members.
As described in the offer document.
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Mr. Pradeep Kumar Verma, Mrs Shalini Singh. Promoter holding 84.94% before the issue and 61.98% after.
Work out the listing gain for this SME IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Accord Transformer & Switchgear IPO was a ₹25.59 crore book-built issue, made up entirely of a fresh issue. It was priced at ₹43–₹46 per share with a lot size of 3,000 shares; the minimum retail application was 6,000 shares (₹2,76,000). The IPO was open from February 23 to February 25, 2026 and was subscribed 357.45x. Shares listed on BSE SME on March 2, 2026 at ₹50, a 8.7% premium to the issue price of ₹46. Kfin Technologies Ltd.
is the registrar. GYR Capital Advisors Pvt. Ltd. is the book running lead manager.
The price band of Accord Transformer & Switchgear IPO is ₹43 to ₹46 per share.
The lot size of Accord Transformer & Switchgear IPO is 3000 shares.
The minimum investment for Accord Transformer & Switchgear IPO is approximately ₹2,76,000 based on the upper price band.
The allotment date of Accord Transformer & Switchgear IPO is Feb 26, 2026.
Accord Transformer & Switchgear IPO's final recorded GMP before listing was ₹4 per share (a 9% premium over the ₹46 upper price band). The shares listed at ₹50. GMP is unofficial and does not forecast or guarantee the actual listing price.
You can check Accord Transformer & Switchgear IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Accord Transformer & Switchgear IPO allotment status on Rupix for quick and easy access.
₹43 to ₹46 per share, against a face value of ₹10. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 3000 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹1,38,000. After listing, SME shares also trade in lots rather than one share at a time.
₹1,38,000, for one lot of 3000 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 23 February 2026 and closed on 25 February 2026.
The basis of allotment was published on 26 February 2026 by Kfin Technologies Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 2 March 2026 on BSE SME.
The issue size was ₹25.59 crore. The fresh issue was 55,62,000 shares (aggregating up to ₹25.59 crore).