Studds Accessories IPO Day 3 LIVE: Studds IPO subscription status was 5.08x on the second bidding day. The retail portion was subscribed 6.02 times, and NII portion has been booked 9.62x, Qualified Institutional Buyers (QIBs) portion received 4% bids. Studds IPO GMP today is ₹67.
The initial public offering of the helmet manufacturer Studds Accessories Ltd sailed through on the first day of share sale on Thursday, October 30. On the first day of bidding, Studds Accessories IPO subscription status was 1.54 times.
On Wednesday, Studds Accessories raised nearly ₹137 crore from anchor investors. The company’s initial public offering (IPO) of ₹455 crore is scheduled to conclude on November 3. The price range for Studds Accessories’ IPO has been set at ₹557-585 per share, which places the company’s valuation at around ₹2,300 crore at the upper end of that spectrum.
Founded in 1975, Studds specializes in the design, manufacture, marketing, and sale of two-wheeler helmets under the ‘Studds’ and ‘SMK’ brands, as well as various motorcycle accessories including luggage, gloves, rain suits, riding jackets, eyewear, and helmet locks.
While Studds focuses on mass and mid-market customers, SMK, which was launched in 2016, targets premium motorcycle enthusiasts. The company supplies products to leading motorcycle original equipment manufacturers (OEMs) such as Hero MotoCorp, Honda Cars India, Suzuki Motorcycle India, Eicher Motors (Royal Enfield), and India Yamaha Motor.
(Stay tuned for more updates)
