Studds Accessories IPO: Helmet maker files papers with SEBI again after 7 years
Studds Accessories reported Rs 285 crore in revenue and a net profit of Rs 33 crore for the six months ended September 2024.
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03:59 PM IST
Helmet manufacturer Studds Accessories has filed draft papers with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO), marking its second attempt to go public.
The IPO will be entirely an offer for sale (OFS), with the promoter group and other shareholders selling 77.9 lakh shares, as per the draft red herring prospectus (DRHP) filed on Wednesday. Since there is no fresh issue component, the company will not receive any funds from the offering, and the proceeds will go to the selling shareholders.
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Financial performance, previous IPO attempt
Studds Accessories reported Rs 285 crore in revenue and a net profit of Rs 33 crore for the six months ended September 2024. The company has been steadily moving towards broadening its products and market reach, making it further consolidated toward establishing its portfolio in the horse races of two-wheeler accessories markets.
This is Studds' second IPO attempt—the company had earlier filed draft papers in August 2018 and, with SEBI clearance coming in December, but it mysteriously dropped plans to list them.
IIFL Capital Services and ICICI Securities are acting as the lead managers for the public issue.
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About Studds Accessories
Founded in 1983, Studds Accessories is one of the leading manufacturers of two-wheeler helmets and accessories, selling products under the 'Studds' and 'SMK' brands. The range of its products includes motorcycle luggage, gloves, helmet locks, rain suits, riding jackets, and eyewear for the domestic and international markets.
The company has a strong global presence with products sold across India and exported to over 70 countries-based Americas, Europe, and Asia excluding India. It also manufactures helmets for Jay Squared LLC under the United States 'Daytona' brand identity and for O'Neal, covering markets of Europe, the US, and Australia.
(With inputs from agencies)
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