- IPO Size & Price: Studds Accessories Ltd is raising about ₹455.5 crore through a pure offer-for-sale of 7.8 million shares Indiatimes Indiatimes. The price band is set at ₹557–₹585 per share, valuing the issue at ~₹2,300 crore (upper end) Indiatimes Indiatimes. All shares are existing stock (no fresh capital); the company itself won’t receive proceeds Freepressjournal Indiatimes.
- Dates & Listing: The subscription opens Oct 30 and closes Nov 3 Indiatimes Business Standard. Bids for anchor investors will be on Oct 29. Allotment is expected Nov 4 and shares will list on NSE/BSE on Nov 7, 2025 Indiatimes Business Standard.
- Grey Market Premium: Early indications point to strong demand – grey market quotes of ~₹55–65 imply a ~9–11% premium over the ₹585 cap Indiatimes Business Standard. Financial press notes a GMP of ₹55 (≈9.4% jump) suggesting an estimated debut price around ₹640 Indiatimes Financialexpress. Investors are eyeing roughly a 9–10% listing pop based on these figures.
- Market Leader: Studds is India’s largest motorcycle helmet maker by revenue (FY24) and the world’s biggest by volume (CY24) Indiatimes Business Standard. It sells helmets under the “Studds” and premium “SMK” brands, plus accessories (gloves, jackets, eyewear, etc.) Indiatimes Indiatimes. Products are distributed nationwide (via 363 distributors) and exported to 70+ countries Indiatimes Indiatimes. Major clients include OEMs (Hero, Honda, Suzuki, Royal Enfield, Yamaha) and institutional buyers like CSD and police canteens.
- Financials: Studds’ FY2024-25 revenue was ~₹584 crore (up ~10% year-on-year) with net profit ~₹70 crore (up 22%) Indiatimes Business Standard. Earnings per share rose to ~₹17.70 in FY25 (from ₹14.54 in FY24) Indiatimes. Its FY25 EBITDA margin was ~18%, and ICICI Direct notes the company is net cash-positive with solid cash flows Icicidirect Business Standard. At the IPO band, the stock is valued ~33x FY25 EPS Icicidirect. Brokerage reports highlight Studds’ “dominant position” and vertical integration, concluding the company is “well placed to maintain its growth trajectory” Icicidirect Icicidirect.
India’s busiest IPO week rolls on with Studds following Orkla and Lenskart to market. With the issue entirely an OFS, all ₹455+ crore will go to existing shareholders – primarily promoters Madhu and Sidhartha Khurana and family investors Indiatimes Freepressjournal. “Studds will offer 78 lakh equity shares in the primary market,” ETMarkets reports Indiatimes, and “all proceeds will go to the selling shareholders” Indiatimes. The IPO opens Thursday (Oct 30) and closes Nov 3, with a tentative Nov 7 listing Indiatimes Business Standard.
Investor buzz centers on the grey market pricing. Moneycontrol and Mint note a ₹55 GMP, implying a debut near ₹640 (≈9–10% above band) Indiatimes Financialexpress. Business Standard even reports a ₹650 unlisted quote (11% premium) on Oct 27 Business Standard. Such demand suggests retailers are keen – if it holds, early buyers could score modest gains. One finance note projects ~9.4% listing gain on the upper band Indiatimes. Of course, grey-market spreads can shift, and the actual float-day premium is not guaranteed, but analysts say the tails are up: “the issue enjoys a ₹55 GMP, hinting at a listing price near ₹640” Indiatimes.
Studds’ pedigree underpins investor confidence. A CARE report and analysts point out Studds was the largest two-wheeler helmet maker in India by revenue in FY24 and the biggest globally by volume in 2024 Indiatimes Business Standard. It operates 4 plants in Haryana (combined 9.04 mn helmets/year) and even builds helmets for US brands (Daytona, O’Neal) Indiatimes Indiatimes. Vertically integrated manufacturing (in-house liner, decal, etc.) and extensive R&D give it an edge Icicidirect. ICICI Direct highlights that Studds commands ~27.3% domestic market share by volume (FY24) Icicidirect. The company’s two brands cater from entry-level (₹875) to premium (₹12,800) segments Icicidirect Indiatimes.
Financially, Studds’ growth has been steady. FY25 revenues and profits both rose ~10–22% (to ₹584 Cr and ₹70 Cr) Indiatimes Business Standard. EBITDA margins expanded to ~18%. With nearly 50 years in business, it enjoys stable OEM relationships and diverse sales channels. “Anchored by its dominant position… Studds is well placed to maintain its growth trajectory,” analysts at ICICI wrote Icicidirect. At the upper IPO band, the valuation (~33x FY25 EPS) is rich but not extreme in the fast-growing consumer space Icicidirect.
Overall, market watchers see Studds as a solid offering in a hot IPO market. Global sentiment is upbeat – TechStock² reports U.S. indexes hitting record highs on trade-optimism and tech earnings optimism ts2.tech – and that positive mood can spill over here. If demand stays strong, listing gains of around 8–10% seem plausible (as GMP suggests) Indiatimes Financialexpress. Still, some caution is advised: analysts note Studds depends heavily on two-wheeler sales (helmets are >90% of revenue), so a domestic bike downturn could pressure growth. Retail investors weighing the issue will balance Studds’ leading market share and growth against the high valuation and general market risks.
Sources: Official IPO filings and media reports (ET, BS, FE, Mint, Moneycontrol, FPJ) Indiatimes Indiatimes Indiatimes Icicidirect ts2.tech, plus brokerage analyses. These figures and quotes are drawn from the listed sources. Each source is cited at point of reference.
