- Issue price
- ₹585per share
- Issue size
- ₹455.49 Cr77,86,120 shares
- Face value
- ₹5per equity share
- Lot size
- 25 sharesMin. ₹14,625 at the upper price
- Anchor biddingWed, 2025
- OpensThu, 2025
- ClosesMon, 2025
- AllotmentTue, 2025
- ListingFri, 2025
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue and offer for sale
- Fresh issue
- 0 shares
- Offer for sale
- 77,86,120 shares (₹455.49 Cr)
- Total issue
- 77,86,120 shares (₹455.49 Cr)
- Face value
- ₹5
- Listing at
- NSE, BSE
- Promoter holding
- 78.55% → 61.53%
Source: ProspectusUpdated
Reservation
Share of the total issue- Retail43.8%
- Anchor37.5%
- NII18.8%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 27,25,142 | 43.75% | — |
| Non-institutional investors (NII) | 11,67,918 | 18.75% | — |
| Qualified institutional buyers (QIB) | 38,93,060 | 62.50% | — |
| Anchor investors | 23,35,836 | 37.50% | — |
Source: ProspectusUpdated
Lot size
Amounts at ₹585 per share| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail individual investors | 1 | 25–2,00,000 | ₹14,625–₹11.7 Cr |
Source: ProspectusUpdated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
FY 2024-25- EPS (basic)
- ₹17.7
- EPS (basic) (Weighted average)
- ₹15.1
- P/E (FY 2024-25 at Cap Price)
- 33.05×
- RoNW
- 15.49%
- RoNW (Weighted average)
- 14.30%
- NAV per share (As on June 30, 2025)
- ₹119.37
- ROCE
- 20.25%
- EBITDA margin
- 17.96%
- PAT margin
- 11.93%
- Debt to equity
- -0.07
Source: ProspectusUpdated
Financials
Consolidated, restated · ₹ crore| Period ended | 30 Jun 20253 months | 31 Mar 2025FY 2024-25 | 31 Mar 2024FY 2023-24 | 31 Mar 2023FY 2022-23 |
|---|---|---|---|---|
| Revenue from operations | 149.18 | 583.82 | 529.02 | 499.17 |
| Total income | 152.01 | 595.89 | 535.84 | 506.48 |
| EBITDA | 30.26 | 104.84 | 90.19 | 60.05 |
| Profit after tax | 20.25 | 69.64 | 57.23 | 33.15 |
| Net worth | 469.77 | 449.48 | 387.41 | 338.02 |
| Reserves and surplus | 450.09 | 429.80 | 377.57 | 328.18 |
| Total assets | 586.61 | 556.71 | 485.56 | 461.07 |
| Total borrowing | 2.91 | 2.91 | 0.61 | 30.58 |
FY 2024-25 vs FY 2023-24: revenue +10.4%, profit after tax +21.7%. Periods shorter than 12 months are shown as reported and are not annualised.
Source: ProspectusUpdated
About the company
Designs, manufactures and sells two-wheeler helmets under the Studds and SMK brands, along with other riding accessories. Products are sold across India and in more than 70 countries, and the company also manufactures helmets for third-party brands.
- Incorporated
- 1983
- Industry
- Two-wheeler Helmets and Accessories
- CIN
- U25208HR1983PLC015135
- Website
- studds.com
Source: ProspectusUpdated
Promoters and shareholders
| Name | Type | Before issue | After issue | Shares offered |
|---|---|---|---|---|
| Madhu Bhushan Khurana | Promoter | 37.95% | 28.30% | 38,00,000 |
| Sidhartha Bhushan Khurana | Promoter | 31.79% | 29.75% | 8,00,000 |
| Shilpa Arora | Promoter | 0.46% | 0.46% | 0 |
| Chand Khurana | Promoter group | 8.35% | 3.02% | 21,00,000 |
| Sanjay Leekha | Selling shareholder | 1.74% | 0.87% | 3,42,000 |
| Charu Leekha | Selling shareholder | 1.27% | 0.63% | 2,49,600 |
| Sunil Kumar Rastogi | Selling shareholder | 0.37% | 0.27% | 36,000 |
| Nisha Leekha | Selling shareholder | 0.26% | 0.00% | 1,00,800 |
| Ajay Kumar Sakhuja | Selling shareholder | 0.16% | 0.12% | 16,200 |
| Nain Tara Mehta | Selling shareholder | 0.15% | 0.00% | 57,600 |
| SE Shoes Private Limited | Selling shareholder | 0.07% | 0.00% | 25,920 |
Source: ProspectusUpdated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Offer for sale by selling shareholders; company receives no proceeds | 455.49 |
| Listing benefits such as visibility and liquidity | Set with price |
Source: ProspectusUpdated
Strengths and risks
Our summary of what the offer document statesStrengths
- Largest two-wheeler helmet player in India by revenue in Fiscal 2024 and world's largest by volume in CY2024, per the CARE report.
- Established brands Studds and SMK sold in more than 70 countries.
- Vertically integrated manufacturing with four facilities in Faridabad and a fifth under construction.
- Diversified product range across premium, mid-range and mass segments.
- Net cash position with consistent profitability over the periods shown.
Risks
- Sales depend heavily on maintaining the Studds and SMK brands and on avoiding discounting by e-sellers.
- Two-wheeler helmets make up over 90% of sales, so a fall in two-wheeler sales would hurt results.
- Operations are concentrated in Faridabad, so disruption there could affect production.
- Dependence on certain raw material suppliers, who account for more than 40% of procurement.
- Past issuances of equity shares did not comply with section 67(3) of the Companies Act, 1956.
Source: ProspectusUpdated
Documents
Contacts
Source: ProspectusUpdated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: ProspectusUpdated
After listing
Listing price, day-one high and low, and the change from the issue price (₹585) appear here after the shares list on NSE and BSE.
Work out the gain or loss on allotted shares after charges and tax →
Frequently asked questions
When does the Studds Accessories IPO open and close?
According to the Prospectus, the issue opens on Thursday, 30 October 2025 and closes on Monday, 3 November 2025.
What is the Studds Accessories IPO price band?
The final issue price is ₹585 per share.
What is the lot size of the Studds Accessories IPO?
One lot is 25 shares, which is ₹14,625 at ₹585 per share.
Where will Studds Accessories shares list?
On NSE and BSE. The tentative listing date is Friday, 7 November 2025.
Who is the registrar of the issue?
MUFG Intime India Private Limited (SEBI registration INR000004058). Allotment status is checked on the registrar's website.
How do I check the Studds Accessories IPO allotment status?
The basis of allotment is expected to be finalised on Tuesday, 4 November 2025. After that, search by PAN, application number or DP/client ID on the registrar's website (MUFG Intime India Private Limited), the NSE website or the BSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹455.49 Cr for offer for sale by selling shareholders; company receives no proceeds, and the rest for the other stated purposes.
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