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Accord Transformer & Switchgear IPO – Subscription Status, Dates, and How to Apply

Nupur Wankhede Posted on February 23, 2026

Explore how Accord Transformer & Switchgear Ltd.’s IPO performed during its initial subscription period, including investor participation, price band details, key dates, and the step-by-step process to apply through ASBA or UPI.

The Accord Transformer & Switchgear IPO opened for subscription on February 23, 2026, marking the entry of the electrical power and distribution equipment manufacturer into the capital markets. With over a decade of experience in providing specialized transformer solutions and EV charging infrastructure, the company’s public issue comes amid ongoing developments in India’s power infrastructure sector.

The issue is valued at ₹25.59 crore and consists entirely of a fresh issue of 55.62 lakh equity shares, with a price band set at ₹43 to ₹46 per share.

Accord Transformer & Switchgear IPO Subscription Status

The Accord Transformer & Switchgear Ltd. IPO witnessed a robust response on its opening day, quickly becoming oversubscribed within hours of the bidding process. The issue saw strong participation from retail and non-institutional investors (NII), indicating active bidding during the early phase of subscription.

Day 1 Subscription Status (February 23, 2026)

On the first day of bidding, the Accord Transformer & Switchgear Ltd. IPO recorded an impressive overall subscription of 6.73×. The retail segment led the charge with a massive turnout, while the non-institutional category also saw healthy participation.

Investor Category	Subscription (Times)
Qualified Institutional Buyers (QIB)	0.00×
Non-Institutional Investors (NII)	5.35×
Retail Individual Investors (RII)	11.38×
Total	6.73×

The Day 1 response indicates that the retail category was fully subscribed, suggesting high demand for the issue. Institutional participation is expected to pick up pace as the bidding window nears its close on February 25.

Accord Transformer & Switchgear IPO Price Band and Lot Size

The price band for the IPO is set between ₹43 and ₹46 per share, with a face value of ₹10 per share. Being an SME IPO, the lot size is significantly larger than mainboard issues. For retail investors, the minimum application is 2 lots (6,000 shares).

Investor Category	Lots	Shares	Amount (₹)
Retail (Min/Max)	2	6,000	₹2,76,000
S-HNI (Min)	3	9,000	₹4,14,000
B-HNI (Min)	8	24,000	₹11,04,000

For detailed insights about the company, issue particulars, and the latest updates, visit the Accord Transformer & Switchgear IPO on Bajaj Markets.

Accord Transformer & Switchgear IPO Dates and Timeline

The timeline for the IPO milestones, from the opening of the bid to the stock exchange debut, is as follows:

Event	Date	Details
IPO Open Date	February 23, 2026	Issue opens for subscription
IPO Close Date	February 25, 2026	Final day to submit bids
Basis of Allotment	February 26, 2026	Finalisation of share allotment
Refunds Initiation	February 27, 2026	Refunds begin for unallotted investors
Credit of Shares	February 27, 2026	Shares credited to successful applicants
Listing Date	March 2, 2026	Shares debut on BSE SME platform

Note: These dates represent procedural milestones based on publicly available data and are intended for informational purposes only.

Disclaimer

The information provided above is based on publicly available data from reliable financial news and market sources. Investors are advised to verify figures and consult financial experts before making investment decisions. Market conditions and subscription numbers are subject to change during the IPO window.

Sources

LiveMint — IPO News and Updates, https://www.livemint.com/market/ipo
Economic Times — IPO News: Latest IPO News, Upcoming IPO, https://economictimes.indiatimes.com/markets/ipo
Financial Express — IPO News, https://www.financialexpress.com/market/ipo-news/
NDTV Profit — IPOs, https://www.ndtvprofit.com/ipos
Business Today — IPO Corner: Latest IPO News & Analysis, https://www.businesstoday.in/markets/ipo-corner

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