Studds IPO Day 3: Issue subscribed 73.24 times; find more details here

Helmets manufacturer Studds Accessories Limited closed its Rs 455-crore initial public offer (IPO) today at 5 pm. The issue was subscribed 73.24 times, led by 159.99 times in QIB (Ex Anchor), 22.08 times in the retail category, and 76.99 times in the NII category.

Studds’ latest GMP was at ₹70, and has an estimated listing price of ₹655. 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.

 The allotment for the Studds Accessories IPO is expected to be finalized on November 4, 2025 and its shares would be listed on BSE, and NSE with a tentative listing date fixed as November 7, 2025.

On the first day of bidding, Studds Accessories IPO subscription status was 1.54 times on the first day, while it was subscribed 5.08 times on the second day.

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.