Studds raises ₹136.6 crore from anchor investors, IPO to open today; check GMP, other details

Studds Accessories, the country’s largest two-wheeler helmet manufacturer, has raised ₹136.6 crore from nine anchor investors on October 29, a day ahead of the opening of its ₹455.49-crore initial public offering (IPO) for public subscription today. The issue will close on November 3, 2025, while the allotment is expected to be finalised on November 4, 2025. Shares of Studds Accessories are proposed to list on the BSE and NSE with a tentative listing date of November 7, 2025.

The company allotted 23,35,836 equity shares to anchor investors at the upper end of the price band of ₹585 per share, according to its exchange filing.

Among the major participants, HDFC Mutual Fund, Nippon Life India, and ICICI Prudential Mutual Fund emerged as the largest investors, each acquiring 5.12 lakh shares worth around ₹30 crore. Other institutions that participated in the anchor round included Edelweiss Trusteeship, ITI Mutual Fund, Kedaara Capital, Carnelian India, Pinebridge Global Funds, and Edelweiss Life Insurance Company.

As per the exchange data, five domestic mutual funds, through their six schemes, were allotted 18.55 lakh shares under the anchor investor portion.

Ahead of the IPO opening, shares of Studds were commanding a grey market premium (GMP) of ₹53 in the unlisted market, indicating a listing price of around ₹638, up 9.06% over the issue price.

Studds IPO is entirely an offer for sale (OFS) of 0.78 crore shares, with no fresh issue component. The price band for the IPO has been fixed at ₹557–₹585 per share, with investors able to bid for a minimum of 25 shares and in multiples thereafter. The market capitalisation of the company at the upper price band is estimated at ₹2,302 crore.

The company has reserved 50% of the offer for qualified institutional buyers (QIBs), up to 35% for retail investors, and remaining 15% for non-institutional investors (NIIs).

Founded in 1975, Studds Accessories has evolved into a global player with a strong presence in both the mass and mid-market segments through its flagship Studds brand, and in the premium motorcycle segment via its SMK brand, launched in 2016.

According to a CARE Ratings report mentioned in the DRHP, the company is the largest two-wheeler helmet manufacturer in India by revenue (FY24) and the world’s largest by volume (CY24). Its products are sold pan-India and exported to over 70 countries across the Americas, Europe, Asia, and other regions.

As of March 31, 2025, the company operated three manufacturing facilities with a combined annualised capacity of 9.04 million units, and sold approximately 7.4 million helmets in FY25.

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