The domestic stock market saw sharp movement in early trading today due to the US–Iran war. However, shares of Accord Transformer & Switchgear gave investors a positive surprise.
The company’s IPO received a very strong response, with total bids coming in at more than 357 times the offer size. Shares were issued at ₹46 per share.
Today, the stock was listed on the BSE SME platform at ₹50. This gave IPO investors an initial listing gain of 8.70%.
After listing, the share price first fell, which reduced investors’ excitement. But later, the stock moved up again and hit the upper circuit limit of ₹52.50.
It closed at the same level. By the end of the first trading day, IPO investors were sitting on a total gain of 14.13%.
How the IPO Funds Will Be Used
The company’s ₹26-crore IPO was open for subscription from February 23 to February 25. It received an overwhelming overall subscription of 357.37 times.
Investor category-wise subscription was as follows:
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 money raised will be used in the following way:
₹13.03 crore for purchasing machinery and equipment
₹10.00 crore for working capital needs
Remaining amount for general corporate purposes
About Accord Transformer & Switchgear
Founded in 2014, Accord Transformers & Switchgear manufactures equipment used in 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 been improving steadily.
Net profit was ₹87 lakh in FY2023
It increased to ₹1.61 crore in FY2024
It further rose to ₹6.05 crore in FY2025
During this period, the company’s total income grew at a 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
for the period April–December 2025.
