Accord Transformer & Switchgear IPO subscribed 329.19 times so far on Day 3; check allotment date and steps

Accord Transformer & Switchgear IPO: The initial public offering of transformer manufacturer Accord Transformer & Switchgear has been subscribed 329.19 times so far on the final day of bidding on Wednesday, February 25.

It has received bids for 1,30,95,06,000 shares compared to 39,78,000 shares on offer, according to the BSE data until 4:18 pm.

Individual investors' quota saw 361.71 times subscription, while the non-institutional investors' part was booked 446.45 times. The portion reserved for qualified institutional buyers was subscribed 153.01 times.

The BSE SME initial share sale is solely a fresh issuance of 55.62 lakh shares aggregating to ₹25.59 crore. There is no offer for sale (OFS) component.

The money raised will be utilised for capital expenditure needs to purchase machinery and equipment, working capital needs and general corporate purposes.

With a price band of ₹43 to ₹46 per share, a lot consists of 3,000 shares. Individual investors can apply for at least two lots or 6,000 shares.

The company is involved in the design, engineering, manufacturing, and supply of electrical power and distribution transformers and related equipment. It serves both standard and customised requirements of customers in the power transmission and distribution sector, renewable energy, industrial applications, infrastructure projects and electric vehicle charging networks.

Accord Transformer & Switchgear IPO: Allotment and listing date

The Accord Transformer & Switchgear IPO allotment is likely to be finalised on Thursday, February 25. The stock will list on the BSE SME platform on March 2.

How to check Accord Transformer & Switchgear IPO allotment status on BSE

• Head to BSE's IPO allotment page: https://bseindia.com/investors/appli_check.aspx.
• Keep issue type as ‘Equity’
• Select ‘Accord Transformer & Switchgear Ltd’ from the 'Issue Name' list
• Identify yourself using PAN or IPO application number
• Click on the ‘Search’ button

Steps to check Accord Transformer & Switchgear IPO allotment status on KFin Technologies

• Visit the registrar's official page: https://ipostatus.kfintech.com/
• In the ‘Select IPO’ menu, choose ‘Accord Transformer & Switchgear Ltd’
• Fill in any one detail: IPO application number, PAN or Demat account number
• Click on 'Submit'

Accord Transformer & Switchgear IPO GMP

According to investorgain.com and media reports, unlisted shares of Accord Transformer & Switchgear Ltd are trading at ₹54, reflecting a grey market premium (GMP) of 17.39% over the upper price band of ₹46.