Accord Transformer & Switchgear IPO

The Accord Transformer & Switchgear IPO is a book-building issue of 55.62 lakh shares worth up to ₹25.59 crores, the entire offer of a fresh issue. The price band for this IPO is ₹43 to ₹46 per share, and the lot size for an application is 3,000. The minimum amount of investment required by an individual investor (retail investor) is ₹276,000 (6,000 shares). The IPO will be open for subscription from Feb 23 to 25, 2026, on the BSE SME platform, with a tentative listing date of March 2, 2026. 

Company Background

Accord Transformer & Switchgear Ltd. was established in the year 2014 and is a leading electrical equipment manufacturing company with expertise in high-performance power and distribution systems. The company has made a challenging presence in the field of engineering and design over the past decade, serving various industries such as renewable energy, infrastructure, and EV charging. The company is headquartered in Manesar, Haryana, and has grown from a private company to a professionally managed public sector enterprise, providing innovative and standards-based solutions to its global clientele.

Operations & Product Range

Facility & Production

Accord Transformer & Switchgear Ltd. has two world-class manufacturing units in Bhiwadi, Rajasthan, designed and optimized for precision engineering. The units are equipped with sophisticated machinery such as plasma cutting machines, foil winding machines, and dedicated painting booths. With comprehensive in-house testing laboratories, Accord ensures that its diverse product range, right from power transformers to sophisticated switchgear, adheres to international safety and efficiency norms.

Brand & Market presence

Accord Transformer & Switchgear Ltd. has been able to create a strong brand identity as a technology-forward leader in the electrical machinery sector. The company’s presence in the market is well-established through its long-term associations with large industrial customers and power companies in India. Through its collaborations with global leaders such as Schneider Electric for customized control panels, the company has been able to establish its presence in the important sectors of solar power, furnace duty, and urban infrastructure.

Revenue Channels

• • A vast range of distribution, power, and dry-type transformers, including specialized units for solar and wind sectors.
• • Supplying low-voltage (LV) and medium-voltage (MV) control panels, vacuum circuit breakers (VCB), and customized industrial switchgear assemblies.
• • Sale of package substations, busducts, and cable trays, often integrated into comprehensive infrastructure and renewable energy projects.

Management & shareholding

Promoter & Shareholding

The growth of Accord Transformer & Switchgear Ltd. is aided by its experienced promoters, Mr. Pradeep Kumar Verma and Mrs. Shalini Singh, who have in-depth knowledge in the electrical engineering sector. Before the IPO, the promoter group dominated the company with a massive 84.94% stake. After the fresh issue of 56 lakh equity shares, the promoter’s stake will be adjusted to accommodate public participation while retaining continuity in leadership.

Board Members

The Accord Transformer & Switchgear Ltd. has a board of directors that is headed by Chairman and Managing Director Pradeep Kumar Verma and Whole-Time Director Shalini Singh. The board is also composed of a well-diversified group of individuals, including Non-Executive Director Amrendra Nath Shukla and Independent Director Dipakkumar Thakkar Neelam. 

The board is well-structured with a combination of technical expertise and strong corporate governance, which ensures that the company follows strict regulatory requirements while implementing its aggressive manufacturing and IPO-related growth plans.