Helmets manufacturer Studds Accessories witnessed a strong investor response on the first day of its initial public offering (IPO), with the issue subscribed 60% so far.
According to NSE data as of 12 p.m. on Thursday, the IPO received bids for 32.43 lakh shares against 54.5 lakh shares on offer. The retail individual investor (RII) category saw the highest interest, with 96% subscription, while non-institutional investors subscribed to 54% of their quota.
Earlier, the company raised approximately ₹137 crore from anchor investors ahead of the public issue.
Studds Accessories IPO GMP Today
In the grey market, Studds Accessories shares are trading at a premium of about 9%, according to market observers. Data from Investorgain pegs the GMP (grey market premium) at ₹54 per share, implying an estimated listing gain of around 9.23%. IPO Watch also reported a similar premium trend.
IPO Details
The ₹455 crore IPO opened for subscription on October 30 and will close on November 3. The company has set a price band of ₹557–₹585 per share, valuing it at around ₹2,300 crore at the upper end of the range.
The share allotment is likely to be finalized by November 4, with the listing expected on November 7.
About the Company
Studds Accessories is a leading player in India’s two-wheeler helmet and accessories market, with a market share of 27.3% by volume and 25.5% by value in FY24. The company operates a fully integrated manufacturing setup, which helps maintain quality and scale efficiently.
Its financial performance has shown consistent growth, with revenue, EBITDA, and profit after tax increasing at a CAGR of 8%, 32%, and 45%, respectively, between FY23 and FY25 (as per brokerage estimates).
At the upper price band, the issue is valued at around 33.1 times its estimated FY25 earnings on a post-issue basis.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice. Investing in IPOs and equities involves risks. Readers are advised to consult their financial advisor before making any investment decisions.
