Accord Transformer & Switchgear IPO
UpcomingAlready have an account? Apply now
Accord Transformer & Switchgear IPO details
Schedule of Accord Transformer & Switchgear
| Issue open date | 23 Feb 2026 |
| Issue close date | 25 Feb 2026 |
| UPI mandate deadline | 25 Feb 2026 (5 PM) |
| Allotment finalization | 26 Feb 2026 |
| Refund initiation | 27 Feb 2026 |
| Share credit | 27 Feb 2026 |
| Listing date | 02 Mar 2026 |
| Mandate end date | 12 Mar 2026 |
| Lock-in end date for anchor investors (50%) | 28 Mar 2026 |
| Lock-in end date for anchor investors (remaining) | 27 May 2026 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Accord Transformer & Switchgear
Accord Transformer & Switchgear Limited (“ATSL”) was incorporated on June 20, 2014, in Gurgaon, Haryana, as a private limited company and was converted into a public limited company on December 4, 2024. The Company is promoted by Mr. Pradeep Kumar Verma and Mrs. Shalini Singh.ATSL is engaged in the design, engineering, manufacturing, and supply of transformers, control panels, and distribution equipment. Its products cater to power transmission and distribution, renewable energy, industrial applications, infrastructure projects, and EV charging networks. The Company operates two manufacturing facilities in Rajasthan, supported by a corporate office in Gurugram. Its facilities are equipped with advanced machinery, in-house testing laboratories, and integrated management systems certified under ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018.ATSL follows a customer-centric business model, delivering both standard and customised solutions based on specific project requirements. Its key strengths include strong engineering capabilities, quality-focused manufacturing processes, diversified end-user industries, and alignment with India’s expanding power and renewable energy infrastructure.
Financials of Accord Transformer & Switchgear
Issue size
| Funds Raised in the IPO | Amount |
| Total issue size | 25.59 |
| Fresh Issue – Proceeds go to the company | 25.59 |
Utilisation of Proceeds
| Purpose | INR crores (%) |
|---|---|
| Capital expenditure (machinery & equipment) | 13.03 (50.92%) |
| Working capital requirements |
10 (39.08%) |
| General corporate purposes | 2.56 (10%) |
Strengths
- Diversified product portfolio across transformers, control panels, and distribution equipment.
- Strong presence in power transmission, renewable energy, and infrastructure sectors.
- ISO-certified manufacturing facilities with in-house testing capabilities.
- Established promoter experience in the electrical equipment industry.
- Growing revenue trend supported by sectoral demand in power and renewables.
Risks
- High revenue dependence on a limited number of key customers.
- Business exposed to fluctuations in the power and infrastructure sectors.
- Operations reliant on leased manufacturing premises.
- Subject to stringent quality, performance, and warranty obligations.
- Exposure to working capital intensity and sector-driven demand volatility.