Studds Accessories IPO: Day Two Check Subscription Status, Latest GMP

The initial public offer of helmet manufacturer Studds Accessories Ltd sailed through on the first day of share sale on Thursday. The company's IPO received bids for 84,15,400 shares against 54,50,284 shares on offer, translating into 1.54 times subscription, according to details available with the NSE.

The firm has fixed a price band of Rs 557-585 per share, valuing it at around Rs 2,300 crore at the upper end of the range.

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

According to InvestorGain, the latest GMP for the Studds Accessories IPO was Rs 63, as of 8 a.m. on Oct. 31. With an upper price band of Rs 585, the estimated listing price is Rs 648. This indicates an expected gain of 10.77% per share for investors.

Note: GMP does not represent official data and is based on speculation.