Accord Transformer & Switchgear IPO
Accord Transformer & Switchgear IPO Details
-
Open Date
23 Feb 2026
-
Close Date
25 Feb 2026
-
Listing Date
02 Mar 2026
- IPO Price Range
₹ 43 to ₹46
- IPO Size
₹ 25.6 Cr
- Listing Exchange
BSE SME
Accord Transformer & Switchgear IPO Timeline
Last Updated: 22 February 2026 5:03 AM by 5paisa
Accord Transformer & Switchgear Ltd. (ATS) is an ISO 9001:2015-certified engineering and manufacturing company specialising in transformers, control panels, and related electrical equipment. Headquartered in IMT Manesar, Gurugram, the company operates multiple manufacturing units across India. Its core business focuses on transformer and control panel engineering, delivering quality products through continuous improvement, integrity, and innovation. ATS aims to provide reliable power solutions at affordable costs while maintaining strong customer satisfaction. The company’s vision is to become a trusted brand both nationally and globally.
Established in: 2014
Managing Director: Mr. Pradeep Kumar Verma
Accord Transformer & Switchgear Objectives
1. Capital expenditure towards purchase of machinery and equipment (Up to ₹13 Cr)
2. Funding of working capital requirements (Up to ₹10 Cr)
3. General corporate purposes
Accord Transformer & Switchgear IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹25.6 Cr |
| Offer For Sale | - |
| Fresh Issue | ₹25.6 Cr |
Accord Transformer & Switchgear IPO Lot Size
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 6,000 | 2,58,000 |
| Retail (Max) | 2 | 6,000 | 2,76,000 |
| S-HNI (Min) | 3 | 9,000 | 3,87,000 |
| S - HNI (Max) | 7 | 21,000 | 9,66,000 |
| B - HNI (Max) | 8 | 24,000 | 11,04,000 |
| Particulars (In ₹ Crores) | FY23 | FY24 | FY25 |
| Revenue | 40.8 | 48.5 | 79.0 |
| EBITDA | 1.5 | 2.7 | 9.1 |
| PAT | 0.9 | 1.6 | 6.0 |
| Particulars (In ₹ Crores) | FY23 | FY24 | FY25 |
| Total Assets | 15.8 | 26.5 | 59.9 |
| Share Capital | 0.25 | 0.25 | 0.3 |
| Total Liabilities | 15.8 | 26.5 | 59.9 |
| Cash Flows (₹ Crores) | FY23 | FY24 | FY25 |
| Net Cash Generated From / (used in) Operating Activities | 1.9 | -4.9 | -8.9 |
| Net Cash Generated From / (used in) Investing Activities | -0.1 | -2.3 | -2.7 |
| Net Cash Generated From / (used in) Financing Activities | -1.0 | 6.5 | 11.6 |
| Net Increase (Decrease) in Cash and Cash Equivalents | 0.75 | -0.8 | -0.02 |
Strengths
1. The company designs, manufactures, tests, and supplies a wide range of power equipment, including transformers and switchgear.
2. It serves diverse sectors such as transmission, renewable energy, infrastructure, and EV charging.
3. Advanced manufacturing facilities with in-house testing support quality and customization capabilities.
4. Professional management and focus on reliability, innovation, and customer needs strengthen execution.
Weaknesses
1. The business is concentrated in the power equipment segment, limiting diversification.
2. Operations rely heavily on capital-intensive manufacturing infrastructure.
3. Performance depends on project-based demand from infrastructure and utilities.
4. Growth may require continual investment in machinery and working capital.
Opportunities
1. Rising investments in power transmission and distribution can drive equipment demand.
2. Expansion of renewable energy and EV infrastructure offers new growth avenues.
3. Infrastructure development projects create sustained need for electrical solutions.
4. Ability to deliver customized products positions the firm for specialised projects.
Threats
1. The company operates in a competitive electrical equipment industry.
2. Demand is linked to economic cycles and infrastructure spending trends. Project delays or cancellations can impact order flow and revenue visibility.
3. Compliance with stringent quality and safety standards is essential for market access.
1. The company manufactures transformers, substations, and control panels with strong engineering capabilities.
2. It offers concept-to-delivery solutions supported by in-house design and production resources.
3. Its products serve critical power distribution needs across industries and infrastructure.
4. Reliable electrical equipment demand is supported by India’s electrification and energy transition.
Accord Transformer & Switchgear Limited operates in the power equipment manufacturing sector, producing transformers, switchgear, control panels, and substations for utilities, industries, infrastructure, and renewable energy applications. The company offers both standard and customized solutions supported by in-house design, engineering, and testing facilities across its manufacturing units. With India’s ongoing expansion in transmission and distribution networks, urban infrastructure, and clean energy projects, the company is positioned to benefit from sustained demand for reliable electrical equipment and integrated power solutions.
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FAQs
Accord Transformer & Switchgear IPO opens from February 23, 2026 to February 25, 2026.
The size of Accord Transformer & Switchgear IPO is ₹25.6 Cr.
The price band of Accord Transformer & Switchgear IPO is fixed at ₹43 to ₹46 per share.
To apply for Accord Transformer & Switchgear IPO, follow the steps given below:
● Login to your 5paisa demat account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Accord Transformer & Switchgear IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The minimum lot size of Accord Transformer & Switchgear IPO is of 6,000 shares and the investment required is ₹2,76,000.
The share allotment date of Accord Transformer & Switchgear IPO is February 26, 2026
The Accord Transformer & Switchgear IPO will likely be listed on March 2, 2026.
GYR Capital Advisors Private Limited is the book running lead manager for Accord Transformer & Switchgear IPO.
Accord Transformer & Switchgear IPO plans to utilise the raised capital from the IPO for:
1. Capital expenditure towards purchase of machinery and equipment (Up to ₹13 Cr)
2. Funding of working capital requirements (Up to ₹10 Cr)
3. General corporate purposes