Accord Transformer IPO opens Feb 23; GMP up 17%; check key details inside

Accord Transformer IPO: The initial public offering (IPO) of Accord Transformer & Switchgear, an electrical power and distribution equipment maker, will open for public subscription on Monday, February 23, 2026. Through its maiden share sale, the company seeks to raise ₹25.59 crore, which comprises a fresh issue of 5.6 million equity shares. There is no offer for sale (OFS) component.

 

Accord Transformer IPO is being offered at a price band of ₹43 to ₹46 per share, with a lot size of 3,000 shares. At the upper price band, a retail investor will require ₹2,76,000 to bid for two lots consisting of 6,000 shares. 

 

Incorporated in 2014, Accord Transformer is engaged in the design, engineering, manufacturing, and supply of a diversified range of electrical power and distribution transformers, and related equipment. It caters to both standard and customised requirements of clients in the power transmission and distribution sector, renewable energy, industrial applications, infrastructure projects, and electric vehicle (EV) charging networks.

Here are the key details of the Accord Transformer IPO:

Accord Transformer IPO GMP

According to sources tracking unofficial markets, the unlisted shares of Accord Transformer were trading at ₹54, commanding a premium of ₹8 or 17.5 per cent against the upper end of the price band.

Accord Transformer IPO key dates

The public issue will remain open for subscription until Wednesday, February 25, 2026. The basis of allotment for the company’s shares is expected to be finalised on Thursday, February 26, while the shares will be credited to investors’ demat accounts on Friday, February 27. Accord Transformer shares are tentatively scheduled to be listed on the BSE SME platform on Monday, March 2, 2026.

Accord Transformer IPO registrar, lead manager

Kfin Technologies is acting as the registrar for the public offering, while GYR Capital Advisors is serving as the sole book-running lead manager.

 

Accord Transformer IPO objective

According to the red herring prospectus (RHP), the company plans to utilise ₹13.03 crore from the net fresh issue proceeds for purchasing machinery and equipment, and ₹10 crore for working capital requirements. The remaining funds will be used for general corporate purposes.  

Accord Transformer IPO financial overview

In the financial year 2025 (FY25), the company had reported a revenue from operations of ₹79 crore, up 62.81 per cent from ₹48.53 crore in the year-ago period. The company's earnings before interest, tax, depreciation and amortisation (Ebitda) came in at ₹9.10 crore in FY25, nearly 2.5 times from ₹2.67 crore in the previous year. Its profit after tax (PAT) stood at ₹6.05 crore against ₹1.6 crore in FY24.