Accord Transformer & Switchgear's IPO was subscribed 332.11 times. The issue opened for bidding on 23 February 2026 and it closed on 25 February 2026. The price band of the IPO was fixed between Rs 43 to Rs 46 per share.

The IPO comprised fresh issue of 55,62,000 equity shares. The company intends to utilise the net proceeds for capital expenditure towards purchase of machinery and equipment, funding of the working capital requirement of the company and general corporate purposes.

Ahead of the IPO, Accord Transformer & Switchgear on 20 February 2026, raised Rs 7.29 crore from anchor investors. The board allotted 15.84 lakh shares at Rs 46 each to 6 anchor investors.

Accord Transformer & Switchgear is engaged in the design, engineering, manufacturing, and supply of a wide range of transformers, control panels and distribution equipment, catering to both standard and customised requirements across power transmission and distribution, renewable energy, industrial applications, infrastructure, and EV charging networks. With two manufacturing facilities in Rajasthan, supported by an office in Gurugram, the company operates with advanced machinery, in-house testing laboratories, and an integrated management system. As of 31st December 2025, the company had 114 employees.

The company recorded revenue from operations of Rs 45.21 crore and net profit of Rs 2.91 crore for the period ended 31 December 2025.