Accord Transformer IPO
Market Sentiment
Market Lot Size
IPO Details
IPO Reservation
Financial Analysis
| Metric | 2023 | 2024 | 2025 | Dec 2025 |
|---|---|---|---|---|
| Revenue | 40.81 | 48.60 | 79.20 | 45.29 |
| Expense | 39.59 | 46.46 | 71.03 | 41.40 |
| Profit (PAT) | 0.87 | 1.61 | 6.05 | 2.91 |
| Total Assets | 15.82 | 26.46 | 59.89 | 41.02 |
| Company | P/E | EPS | Market Cap (Cr) |
|---|---|---|---|
| Danish Power Limited | 18.09 | 34.55 | 18 |
| Transformers and Rectifiers (India) Ltd | 34.43 | 7.21 | 17 |
| Voltamp Transformers Limited | 24.76 | 321.65 | 21 |
Promoters: Mr. Pradeep Kumar Verma and Mrs Shalini Singh
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 1,50,11,289 | 4.03% |
| Promoter Holding Post Issue | 2,05,73,289 | 2.94% |
Company Information
Set up in 2014, Accord Transformer & Switchgear is one of the prominent companies that designs electrical power and distribution equipment. The firm is involved in designing, engineering, manufacturing, and supplying transformers, control panels & switchgears. With over 10 years of experience, the firm is serving customers with standard and customised equipment. Its products mainly cater to various sectors like power transmission and distribution, renewable energy, industrial applications, infrastructure projects, and electric vehicle (EV) charging networks. The company runs 2 manufacturing facilities in Bhiwadi, Rajasthan. Its facilities consist of advanced machinery like plasma cutting systems, foil winding machines, shot blasting, and painting booths, helping the company to design critical power systems.
| Purpose | Amount (Cr) |
|---|---|
| Capital expenditure towards purchase of machinery and equipment | 13.03 |
| Funding of working capital requirements | 10.00 |
| General corporate purposes | - |
Resources & Documents
ccord Transformer & Switchgear Ltd. Address, Unit No. 724, Seventh Floor, Eros Corporate Park, K Block, Sector 2, IMT Manesar, Manesar, Gurgaon, Haryana, 122052
Accord Transformer has set a price band of Rs 43–Rs 46 per share for an issue size of Rs 26 crore. The stock listed with a 8.70% gain versus its issue price on March 02, 2026.
Set up in 2014, Accord Transformer & Switchgear is one of the prominent companies that designs electrical power and distribution equipment. The firm is involved in designing, engineering, manufacturing, and supplying transformers, control panels & switchgears.
The issue is promoted by Mr. Pradeep Kumar Verma and Mrs Shalini Singh with GYR Capital Advisors Pvt.Ltd. acting as lead manager. Net proceeds will primarily be used towards Capital expenditure towards purchase of machinery and equipment (Rs 13 crore) and Funding of working capital requirements (Rs 10 crore).
Grey market is quoting a premium of +Rs 8 (+17.4% over issue price). Final subscription data records overall subscription at 357.45x, retail at 367.59x, QIB at 153.01x, NII at 606.38x.
On fundamentals, the company is posting revenue growth of 63.0%, a profit margin of 7.6%, return on equity of 28.1% in its most recent reported period. Listed peers in this segment include Voltamp Transformers Limited (P/E 24.76x, market cap Rs 21 crore) and Danish Power Limited (P/E 18.09x, market cap Rs 18 crore) — useful reference points when evaluating the issue's pricing relative to where the broader sector are trading.
Our data-driven engine currently flags this issue as a Subscribe call — the composite picture tilts favourable, though not without some caveats. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Understanding Grey Market Premium (GMP)
The Grey Market Premium (GMP) is an unofficial indicator of how an IPO's shares are trading in the grey market before they are officially listed on a stock exchange. It reflects investor sentiment and demand for the IPO shares ahead of listing day.
How does it work? The grey market is an informal, over-the-counter market where investors buy and sell IPO shares before the official listing date. If an IPO has a positive GMP, it suggests that investors expect the stock to list above its issue price. A negative GMP indicates expectations of a listing below the issue price.
Example: If an IPO has an issue price of ₹100 and the GMP is ₹50, the expected listing price would be approximately ₹150 (issue price + GMP). This translates to an estimated listing gain of 50%.
Factors that influence GMP:
- Subscription levels — Higher subscription typically drives GMP up
- Market conditions — Bullish markets tend to boost GMP across all IPOs
- Company fundamentals — Strong financials and growth potential attract premium
- Industry sentiment — Positive outlook for the sector can increase demand
- IPO pricing — Reasonably priced IPOs relative to peers tend to command higher GMP
Disclaimer: GMP is an unofficial metric from the grey market and is not regulated by SEBI or any stock exchange. GMP values fluctuate frequently and should not be the sole basis for investment decisions. Always consider company fundamentals, financial health, and your own risk appetite before investing in any IPO.
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