Studds Accessories eyes Rs 455 cr via IPO; issue opens Oct 30

New Delhi, Oct 27 (PTI) Helmets manufacturer Studds Accessories Ltd is targeting to raise Rs 455 crore through its initial public offering (IPO), which is scheduled to open on October 30.

The company has

set a price band of Rs 557 to Rs 585 per share, valuing it at around Rs 2,300 crore at the upper end of the range.

The issue will close on November 3, while the anchor book will open for a day on October 29, the company said in a public announcement.

The IPO will comprise only an offer-for-sale (OFS), with the promoter group and other shareholders offloading 77.86 lakh shares.

Since the issue is entirely an OFS, Studds will not receive any proceeds, and all funds will go to the selling shareholders.

Founded in 1975, Studds designs, manufactures, markets, and sells two-wheeler helmets under the ‘Studds’ and ‘SMK’ brands, as well as a range of motorcycle accessories, including luggage, gloves, rain suits, riding jackets, eyewear, and helmet locks. While Studds caters to the mass and mid-market segments, SMK, launched in 2016, targets premium motorcyclists.

The company’s products are sold across India and exported to over 70 countries, with key markets spanning the Americas, Asia (excluding India), Europe, and other regions. It also manufactures helmets for international brands such as Jay Squared LLC (sold under the Daytona brand in the United States) and O’Neal, which are distributed across Europe, the US, and Australia.

According to a CARE report, Studds is the world’s largest two-wheeler helmet player by volume in calendar year 2024, and the largest in India by revenue in FY2024. As of March 31, 2025, its three manufacturing facilities had a combined annual capacity of 9.04 million units, with around 7.4 million helmets sold in FY2025.

The company supplies products to leading motorcycle OEMs, including Hero MotoCorp, Honda Cars India, Suzuki Motorcycle India, Eicher Motors (Royal Enfield), and India Yamaha Motor. It also caters to government and institutional buyers, such as the Central Police Canteens and the Canteen Stores Department.

Half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.

The public issue will be managed by IIFL Capital Services and ICICI Securities, with shares expected to list on the stock exchanges on November 7.

This marks Studds’ second attempt to go public. The company had earlier filed draft papers with the market regulator in August 2018, received Sebi’s approval in December 2018, but did not proceed with the offering at that time. PTI SP DRR