Accord Transformer & Switchgear Ltd manufactures power and distribution transformers, along with switchgear panels and substation equipment. These products help distribute electricity safely for homes, industries, and power companies.
READ FULL DRHP HERE: Accord Transformer DRHP CLICK HERE
IPO Details
| Detail | Information |
|---|---|
| Issue Open Date | February 23, 2026 |
| Issue Close Date | February 25, 2026 |
| Listing Date | February 27, 2026 on BSE SME |
| Price Band | ₹43 to ₹46 per share |
| Face Value | ₹10 per share |
| Lot Size | 3,000 shares (minimum 6,000 or 2 lots) |
| Minimum Amount for Retail | ₹2,76,000 (upper price) |
| Total Size | 52,80,000 shares worth ₹24.29 crores |
| Fresh Issue | 52,80,000 shares (₹24.29 crores) |
| Offer For Sale | None |
| Market Maker | 2,82,000 shares |
Retail max 2 lots, S-HNI 7 lots, B-HNI min 8 lots. Anchor ₹7.29 Cr.
REGISTRAR: Bigshare Services Pvt Ltd CLICK HERE
Use of IPO Money
The company will use the money raised (net proceeds from fresh issue) in these simple ways:
- ₹13.03 crores to buy machinery and equipment for factory.
- ₹10.00 crores for working capital (raw materials, daily running).
- Rest for general company needs like bills.
This boosts production and operations.
Key Financials and Growth
| Period Ended | Total Income (₹ Cr) | Profit After Tax (PAT, ₹ Cr) | EBITDA (₹ Cr) | EBITDA Margin (%) | Net Worth (₹ Cr) | Borrowings (₹ Cr) | Debt to Equity |
|---|---|---|---|---|---|---|---|
| Dec 31, 2025 (9M) | 45.29 | 2.91 | 4.62 | 10.19 | 24.45 | 4.37 | 0.18 |
| Mar 31, 2025 | 79.20 | 6.05 | 9.10 | 11.49 | 21.54 | 11.81 | 0.55 |
| Mar 31, 2024 | 48.53 | 1.61 | 2.67 | - | 6.04 | 9.13 | - |
| Mar 31, 2023 | 40.78 | 0.87 | 1.54 | - | 4.43 | 2.30 | - |
Income up 94% FY25. PAT up 595% FY25. ROE 28.10% FY25, PAT margin 7.66%.
Strengths
- Fast growth: Income ₹41 Cr FY23 to ₹79 Cr FY25.
- PAT surged ₹0.87 Cr to ₹6.05 Cr.
- Debt low (D/E 0.18-0.55).
- Funds for machines + working capital.
- ROCE 26% FY25.
Key Concerns and Risks
- Short history (incorporated 2020).
- Relies on few customers/suppliers.
- SME low trading volume.
- Power sector competition.
- Underperforms peers in profits.
IPO FAQS
What is an IPO?
- An IPO (Initial Public Offering) is when a private company sells its shares to the public for the first time to raise money.
- Example: If a well-known pizza company wants to grow, it can list its shares on the stock exchange so anyone can buy a piece of the company.
How can you apply for an IPO (using Zerodha or Upstox)?
- Make sure you have a Demat account and your bank account is linked.
- Steps:
- Log in to your broker’s app (e.g., Zerodha Kite, Upstox).
- Go to the IPO section.
- Select the company’s IPO you want to apply for.
- Enter how many shares (or ‘lots’) you want and the price you wish to bid.
- Enter your UPI ID, submit your application, and approve the UPI payment request.
How are IPO shares allotted?
- If more people want shares than are available, the company uses a lottery system to decide who gets them.
- If you don’t get shares, your money is simply returned.
What is GMP (Grey Market Premium)?
- GMP shows the extra price people are willing to pay for IPO shares before they officially start trading.
- Example: If IPO price is ₹100 and GMP is ₹20, people are unofficially ready to pay ₹120. It hints at the IPO’s popularity but isn’t a guarantee.
Where to check upcoming IPOs (IPO calendar)?
- Visit popular finance sites like Chittorgarh, IPOWatch, or official exchange websites (NSE, BSE) and look for the “Upcoming IPO” section.
What are IPO listing gains?
- If the share’s price rises on the first trading day, you can make instant profit.
- Example: You buy at ₹150, and it opens at ₹200, you gain ₹50 per share.
How can you make profit from an IPO?
- Quick gains on listing day (if the stock price goes up).
- Long-term: If the company grows, the share price could increase further.
Which IPO is best to buy?
- There is no single best IPO. Check the company’s background, current demand, and GMP, but always research before investing.
- High GMP or popularity doesn’t guarantee profits.
Are IPOs safe?
- IPOs can be profitable but also risky; prices can go up or down sharply.
- Only invest if you are ready for potential losses.
How to check IPO allotment status?
- After the IPO process, check on exchanges (BSE/NSE websites) or the IPO registrar’s site (like K-Fintech, Bigshare,or mufg-intime) by entering your PAN or application number to see if you got shares.
Important Tips for Retail Investors Applying for an IPO
- Use Only Your Own PAN Card:
Avoid using the same PAN card for multiple IPO applications. For example, if you have already applied using your PAN for one IPO, don’t try to apply again with the same PAN under different accounts or through others. - Apply in the Right Category:
Ensure you select the correct investor category (such as Retail Individual Investor) when filling out your application. Applying under a wrong category can lead to rejection or disqualification. - Maintain Sufficient Bank Balance:
Before applying, ensure your bank account linked to the application has enough funds to cover the full bid amount. For instance, if the IPO application requires a payment of ₹15000, make sure your account holds at least that amount. - Use Your Own Bank Account:
Always apply through your own bank account. Using someone else’s account can cause your application to be rejected during the verification process. - Avoid Last-Minute Applications:
Don’t wait until the deadline day or moments before to apply. Last-minute submissions may face technical glitches or processing delays, reducing the chances of success.