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Studds Accessories, a prominent Indian manufacturer of two-wheeler helmets, has filed its draft red herring prospectus (DRHP) with SEBI, outlining plans for an initial public offering (IPO) through an offer for sale of up to 7,786,120 equity shares.
Studds Accessories, a leading Indian manufacturer of two-wheeler helmets, has officially set its sights on the public market, filing a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an upcoming Initial Public Offering (IPO).
The IPO will involve an offer for sale (OFS) of up to 7,786,120 equity shares, each with a face value of Rs 5. Existing promoter shareholders, including Sidhartha Bhushan Khurana and Chand Khurana, will be participating in the OFS. The shares are proposed to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
The primary objective of the IPO is to gain the advantages of listing on the stock exchanges. The company will not receive any proceeds from the OFS, as the funds will go to the selling shareholders.
Studds Accessories is engaged in the design, manufacturing, marketing, and sales of two-wheeler helmets under the Studds and SMK brands. In addition to helmets, the company offers other accessories, such as two-wheeler luggage, gloves, helmet locking devices, rain suits, riding jackets, and eyewear, under the Studds brand.
Studds distributes its products across India and in over 70 countries globally, with key export markets in the Americas, Asia (excluding India), Europe, and the rest of the world. The company also manufactures helmets for Jay Squared LLC, sold under the “Daytona” brand in the United States, and for O’Neal, supplying to markets in Europe, the United States, and Australia.
IIFL Capital Services Limited and ICICI Securities Limited have been appointed as the Book Running Lead Managers (BRLMs) for the IPO.
This marks Studds Accessories' second attempt at going public, having previously filed draft papers nearly seven years ago with plans to raise ₹98 crore through a primary share issuance in 2018.
