Accord Transformer & Switchgear share price hits 5% upper circuit after decent debut

Accord Transformer & Switchgear share price made a positive debut on BSE SME today. Accord Transformer & Switchgear share price today opened at ₹50, which is 8.7% higher than the issue price of ₹46. Post a strong debut, the stock was locked in 5% upper circuit at ₹52.50 per share.

The initial public offering (IPO) of Accord Transformer & Switchgear had a subscription period that ran from Monday, February 23 until Wednesday, 25. With a face value of ₹10, shares in the Accord Transformer & Switchgear IPO are priced between ₹43 and ₹46. At least 3,000 of those shares are up for bid, and there are multiples of those shares available. Accord Transformer & Switchgear IPO subscription status was 357.37 times on the last day of bidding.

Accord Transformer & Switchgear, founded in 2014, is a reputable firm involved in designing, engineering, manufacturing, and supplying a wide array of electrical power and distribution equipment.

With more than a decade of experience, the company meets both standard and tailored needs of clients in diverse sectors, such as power transmission and distribution, renewable energy, industrial applications, infrastructure projects, and electric vehicle (EV) charging networks.

The organization runs two manufacturing plants in Bhiwadi, Rajasthan, while its registered office is situated in Manesar, Haryana. These plants feature state-of-the-art equipment, including plasma cutting systems, foil winding machines, shot blasting and painting booths, as well as fully equipped in-house testing laboratories, which facilitate proficiency in the design, production, testing, and implementation of essential power systems.

For the financial year 2025, the company announced a total income of ₹79.20 crore and a profit after tax amounting to ₹6.05 crore. As of March 31, 2025, the net worth was recorded at ₹21.54 crore, while total borrowings reached ₹11.81 crore.

Accord Transformer & Switchgear IPO details

Accord Transformer & Switchgear IPO consisted of a new issuance of 55.62 lakh shares valued at up to ₹25.59 crore.

The company intends to allocate ₹13.03 crore for capital expenditures related to machinery and equipment, while ₹10 crore will be directed toward working capital needs.

GYR Capital Advisors Pvt Ltd. serves as the lead manager for the book, and Kfin Technologies Ltd. has taken on the role of registrar for the issue. Giriraj Stock Broking Pvt Ltd. is designated as the Market Maker for the company.

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