Accord Transformer & Switchgear IPO Subscribed 357.19 Times on Day 3

Accord Transformer & Switchgear Limited's initial public offering (IPO) closed its three-day subscription window on an exceptional note, reaching 357.19 times overall subscription by 4:59 PM on Day 3 (February 25, 2026). The ₹25.59 crore book-build issue, priced at ₹43–₹46 per share, received bids for 1,32,01,92,000 shares against 36,96,000 shares on offer, with total applications reaching 1,39,866.

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Subscription Status of Accord Transformer & Switchgear IPO

Category-Wise Subscription Details (Day 3, as of 4:59 PM)

Key Highlights - Day 3:

• Overall subscription reached an exceptional 357.19 times, showing extraordinary improvement from Day 2's 40.78 times for the Accord Transformer & Switchgear IPO.
• Individual investors showed exceptional confidence at 367.23 times, building substantially from Day 2's 59.74 times, indicating extraordinary retail demand.
• Qualified institutional buyers (ex-anchor) recorded a dramatic surge to 153.01 times on the final day, jumping from Day 2's 1.08 times, indicating strong institutional appetite emerging on Day 3.
• Total applications reached 1,39,866 on Day 3.
• Anchor investors fully subscribed their allocation of ₹7.29 crores on February 20, 2026.
• Market makers fully subscribed their allocation of ₹1.30 crores.

Key Highlights - Day 2:

• Overall subscription reached 40.78 times, showing substantial improvement from Day 1's 10.55 times.
• Individual investors showed strong confidence at 59.74 times, building substantially from Day 1's 16.26 times.
• Qualified institutional buyers (ex-anchor) recorded negligible participation at 1.08 times on Day 2.

Key Highlights - Day 1:

• Overall subscription reached 10.55 times, reflecting strong initial investor interest in this electrical power equipment SME IPO.
• Individual investors led opening day participation at 16.26 times, indicating strong retail appetite from Day 1.
• Qualified institutional buyers (ex-anchor) showed negligible participation at 0.02 times on Day 1.

About Accord Transformer & Switchgear Limited

Incorporated in 2014, Accord Transformer & Switchgear Limited is engaged in the design, engineering, manufacturing, and supply of a diversified range of electrical power and distribution equipment, serving sectors including power transmission and distribution, renewable energy, industrial applications, infrastructure projects, and electric vehicle charging networks. Its product portfolio covers distribution transformers up to 2.5 MVA, power transformers up to 20 MVA, dry-type transformers up to 5000 KVA, special-purpose transformers including solar and wind inverter duty variants, LV control panels, MV and VCB panels, package substations, busducts, and customised Prisma Set control panels in collaboration with Schneider Electric.