Accord Transformer and Switchgear IPO: The initial public offering (IPO) of electrical power and distribution equipment manufacturer Accord Transformer & Switchgear opened for subscription on Monday, February 23. The ₹25.6 crore SME IPO is a fresh issue of 56 lakh shares.
Meanwhile, ahead of the IPO, the company raised ₹7.3 crore from anchor investors, allocating 15,84,000 shares to them at a price of ₹46 per equity share.
Accord Transformer IPO GMP
According to grey market sources, the GMP of Accord Transformer shares was ₹13 on Monday. This indicates the SME stock could list at a premium of 28.3% at ₹59 on the BSE SME.
Accord Transformer IPO subscription status
By 11:55 am on Monday, the SME IPO had seen an overall subscription of nearly 3.2 times, with the retail portion booked 5 times, and the segment reserved for NIIs subscribed to 3 times. QIB’s portion had not seen any subscription till that time.
Accord Transformer IPO details
1. Accord Transformer IPO date: The SME IPO opened for subscription on Monday, February 23, and will close on Wednesday, February 25.
2. Accord Transformer IPO price: The price band of the public issue has been fixed at ₹43 to ₹46 per equity share.
3. Accord Transformer IPO objects: According to the Red Herring Prospectus (RHP), the company will use the net proceeds from the issue to purchase machinery and equipment, to meet working capital requirements, and for general corporate purposes.
4. Accord Transformer IPO size: The BSE SME IPO is a fresh issue of 55,62,000 shares of face value of ₹10 each to raise ₹25.59 crore. There is no offer for sale (OFS) portion in the issue.
5. Accord Transformer IPO lot size: Retail investors can bid for a minimum and maximum of 6,000 shares.
6. Accord Transformer IPO reservation: The biggest chunk of the issue has been offered to QIBs. They have been offered 26,40,000 shares (47.46% of the net issue). Retail investors have been offered 18,48,000 shares (33.23%), and NIIs have been offered 7,92,000 shares (14.24%).
7. Accord Transformer IPO allotment date: The company is expected to finalise the share allotment on Thursday, February 26. Successful bidders can expect shares of the company in their demat accounts on the next business day, on Friday, February 27, and bidders who fail to get the allocation may get a refund on the same day.
8. Accord Transformer IPO book-running lead manager and registrar: According to the issue’s RHP, GYR Capital Advisors Private Limited is the book-running lead manager, and KFIN Technologies Limited is the registrar of the Accord Transformer IPO.
9. Accord Transformer IPO listing: The IPO is proposed for listing on the BSE SME on Monday, March 2.
10. Accord Transformer IPO business overview: As per the RHP, the company is engaged in the design, engineering, manufacturing, and supply of a diversified range of electrical power and distribution transformers, and related equipment.
For FY23, the company’s profit was ₹87.81 lakh, which rose to ₹1.61 crore in FY24 and to ₹6 crore in FY25.
Revenue from operations in FY23, FY24, and FY25, stood at ₹40 crore, ₹48.5 crore, and ₹79 crore, respectively.
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