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Subscription Status · Feb 23 – Feb 25, 2026 · ₹43–46
The Accord Transformer & Switchgear IPO subscription has recorded exceptional investor demand with an overall subscription of 357.37× as of Feb 25, 2026, indicating that investors applied for 357.37 times the number of shares on offer. All investor categories (institutional, HNI, and retail) have participated actively, making this one of the closely watched IPO openings.
Last updated: Feb 25, 2026, 9:07 PM IST
| Category | Shares Offered | Shares Bid For | Times Subscribed | Applications |
|---|---|---|---|---|
|
QIB
Qualified Institutional Buyers
|
1,056,000 | 161,583,000 |
153.01×
|
- |
|
NII
Non-Institutional Investors
|
792,000 | 479,970,000 |
606.02×
|
- |
|
bNII
Bids above ₹10L
|
528,000 | 374,712,000 |
709.68×
|
- |
|
sNII
Bids below ₹10L
|
264,000 | 105,258,000 |
398.70×
|
- |
|
Retail
Retail Individual Investors
|
1,848,000 | 679,302,000 |
367.59×
|
- |
|
Total
|
3,696,000 | 1,320,855,000 |
357.37×
|
- |
How subscription built up across investor categories over time
Snapshot of each day's bidding activity
| Category | Offered | Bid For | Times | Applications |
|---|---|---|---|---|
| QIB | 1,056,000 | 18,000 | 0.02× | - |
| NII | 792,000 | 8,925,000 | 11.27× | - |
| bNII | 528,000 | 6,261,000 | 11.86× | - |
| sNII | 264,000 | 2,664,000 | 10.09× | - |
| Retail | 1,848,000 | 30,042,000 | 16.26× | - |
| Total | 3,696,000 | 38,985,000 | 10.55× | - |
| Category | Offered | Bid For | Times | Applications |
|---|---|---|---|---|
| QIB | 1,056,000 | 1,140,000 | 1.08× | - |
| NII | 792,000 | 39,177,000 | 49.47× | - |
| bNII | 528,000 | 26,787,000 | 50.73× | - |
| sNII | 264,000 | 12,390,000 | 46.93× | - |
| Retail | 1,848,000 | 110,406,000 | 59.74× | - |
| Total | 3,696,000 | 150,723,000 | 40.78× | - |
| Category | Offered | Bid For | Times | Applications |
|---|---|---|---|---|
| QIB | 1,056,000 | 161,583,000 | 153.01× | - |
| NII | 792,000 | 479,970,000 | 606.02× | - |
| bNII | 528,000 | 374,712,000 | 709.68× | - |
| sNII | 264,000 | 105,258,000 | 398.70× | - |
| Retail | 1,848,000 | 679,302,000 | 367.59× | - |
| Total | 3,696,000 | 1,320,855,000 | 357.37× | - |
As of February 25, 2026, the Accord Transformer & Switchgear IPO has been subscribed 357.37 times overall. The IPO is fully subscribed with strong investor demand indicating extremely high interest.
The Accord Transformer & Switchgear IPO subscription window was open from February 23, 2026 to February 25, 2026. Investors could apply through their demat account or ASBA facility.
The Accord Transformer & Switchgear IPO has a price band of ₹43 to ₹46 per share, with a lot size of 3,000 shares. Minimum retail investment: ₹129,000 (lower band) or ₹138,000 (upper band).
The QIB category has been subscribed 153.01 times. QIBs were offered 1,056,000 shares. Strong QIB subscription indicates high institutional confidence.
Retail investors subscribed 367.59 times. Retail was offered 1,848,000 shares. High retail subscription reflects strong small-investor interest.
Overall NII: 606.02×. bNII (>₹10L): 709.68×, sNII (<₹10L): 398.70×. NII includes HNIs and corporate entities investing above ₹2 lakh.
Basis of allotment is on February 26, 2026. Check via the registrar's website, KFin Technologies Limited using your PAN number, application number, or DP/Client ID. You can also check on BSE/NSE websites or through your broker's app.
Accord Transformer & Switchgear IPO is expected to list on March 02, 2026. Shares will list on BSE SME platform. Allotted shares are credited to your demat account 1 business day before listing.
A subscription multiple of 357.37× means investors have bid for 357.37 times the total shares available. Since the IPO is oversubscribed, not every applicant will receive shares, allotment happens via lottery (for retail) or proportionately (for other categories). Higher multiples generally reduce allotment probability.
Based on the current retail subscription of 367.59×, the estimated allotment probability for retail investors is Very Low. Only 1 lot likely via lottery if selected. Retail allotment in oversubscribed IPOs is done by computerised lottery, each valid application has an equal probability regardless of the number of lots applied for.
You can apply for Accord Transformer & Switchgear IPO through: (1) ASBA (Application Supported by Blocked Amount) via your bank's net banking or mobile app, (2) UPI-based application through your broker's app (Zerodha, Groww, Angel One, etc.), or (3) directly via your demat account. The amount is blocked in your account and deducted only upon allotment. Applications were accepted from Feb 23 to Feb 25, 2026.
The grey market premium (GMP) reflects unofficial pre-listing trading sentiment. For the latest Accord Transformer & Switchgear IPO GMP data, check the IPORise GMP page. Note: GMP is unofficial, speculative, and not a guaranteed indicator of listing price. Use it only as a sentiment signal alongside official subscription data.
New to reading subscription numbers? Read our guide on IPO subscription explained.
Subscription Opens Done
Feb 23, 2026Subscription Closes Done
Feb 25, 2026Basis of Allotment Done
Feb 26, 2026Listing on BSE Done
Mar 02, 2026Only 1 lot likely via lottery if selected. Based on retail subscription of 367.59×.
Retail allotment in oversubscribed IPOs is done by computerised lottery, each valid application has equal odds regardless of lot size applied.
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Higher subscription = lower allotment probability. Progress bars compare each category relative to the highest-subscribed category.
