The company’s IPO received an overwhelming response, with total bids coming in at more than 357 times the offer size. The IPO price was fixed at ₹46 per share.
Today, the stock was listed on the BSE SME platform at ₹50 per share, giving IPO investors a listing gain of 8.70%.
Soon after listing, the stock saw some selling pressure and slipped. However, it later recovered strongly and hit the upper circuit at ₹52.50.
It closed at this level. By the end of the first trading day, IPO investors were sitting on a total profit of 14.13%.
How Will the IPO Funds Be Used?
The ₹26 crore IPO of Accord Transformer & Switchgear was open for subscription from February 23 to 25. It received a very strong response and was subscribed 357.37 times overall.
Here is the category-wise subscription:
Qualified Institutional Buyers (QIBs): 153.01 times (excluding anchor investors)
Non-Institutional Investors (NIIs): 606.02 times
Retail Investors: 367.59 times
Under the IPO, the company issued 55.62 lakh new shares with a face value of ₹10 each.
The funds raised will be used as follows:
₹13.03 crore for purchasing machinery and equipment
₹10.00 crore for working capital requirements
The remaining amount for general corporate purposes
About the Company and Its Financial Performance
Founded in 2014, Accord Transformer & Switchgear manufactures products for power transmission and distribution (T&D), renewable energy, industrial applications, infrastructure projects,
and EV charging networks. Its main products include transformers, control panels, and switchgears.
The company’s financial performance has shown strong improvement in recent years.
Net profit in FY2023: ₹87 lakh
Net profit in FY2024: ₹1.61 crore
Net profit in FY2025: ₹6.05 crore
During this period, the company’s total income grew at a compound annual growth rate (CAGR) of more than 37%, reaching ₹79.20 crore.
For the current financial year 2026, the company reported:
Net profit of ₹2.91 crore
Total income of ₹45.29 crore during April–December 2025
By the end of the December 2025 quarter, the company continued to show steady financial progress.
