Accord Transformer & Switchgear Gears Up for SME IPO Launch

Accord Transformer & Switchgear Limited is set to launch its SME IPO with a fresh issue of 55,62,000 shares. The offering is structured through a book-building process, and the shares will be listed on BSE SME. Key stakeholders include Pradeep Kumar Verma and Shalini Singh.

Accord Transformer & Switchgear Limited, based in Mumbai, has taken a significant step towards broadening its business horizons by filing its Red Herring Prospectus. The company is preparing to launch an SME Initial Public Offering (IPO), a move that underscores its growth ambitions.

The upcoming IPO offers a fresh issue of up to 55,62,000 equity shares, each priced with a face value of ₹10, structured through a 100% book-built process. The company plans to list these shares on the BSE SME platform, enhancing its market presence.

The offering details reveal strategic allocation intentions: 50% of shares for Qualified Institutional Buyers, 15% for Non-Institutional Investors, and 35% for Individual Investors. With Pradeep Kumar Verma and Shalini Singh as promoters, the IPO is a testament to the company's evolving financial journey.