Studds Accessories Ltd IPO: India’s largest helmet and two-wheeler accessories maker, Studds Accessories Limited, has launched its much-awaited Initial Public Offering (IPO). Known for its popular brands “Studds” and “SMK”, the company commands a major share in the organized helmet industry and exports to over 70 countries worldwide.
Let’s dive deep into the IPO structure, valuation, financials, and investment outlook for investors eyeing this premium issue.
🏍️ IPO Overview
| Particulars | Details |
|---|---|
| IPO Type | Offer for Sale (OFS) — no fresh issue |
| Issue Size | ₹455.49 crore (approx.) |
| Face Value | ₹5 per share |
| Price Band | ₹557 – ₹585 per share |
| Lot Size | 25 shares |
| Minimum Investment | ₹14,625 for retail investors |
| IPO Open Date | October 30, 2025 |
| IPO Close Date | November 3, 2025 |
| Tentative Listing Date | November 7, 2025 |
| Stock Exchange | NSE & BSE |
| Registrar | MUFG Intime India Pvt. Ltd. |
| Lead Managers | ICICI Securities & IIFL Capital Services |
| GMP (as of Oct 29, 2025) | ₹55 |
| Expected Listing Price | Around ₹640 (≈10% premium) |
🏢 About Studds Accessories Ltd
Founded in 1972, Studds Accessories Ltd is one of the world’s largest helmet manufacturers with a capacity of over 14 million helmets per year.
Its products include:
- Motorcycle helmets (open-face, full-face, flip-up)
- Riding jackets & gloves
- Helmet locks & luggage boxes
- Eyewear and rain suits
The company operates two major brands:
- Studds – mass and mid-segment consumers
- SMK – premium and export-focused riders
With exports to over 70 countries, the company has steadily expanded its footprint in Europe, Latin America, Africa, and Asia.
📊 Financial Performance Snapshot (FY22–FY24)
| Financial Metric | FY22 | FY23 | FY24 |
|---|---|---|---|
| Revenue (₹ Cr) | 457 | 561 | 689 |
| PAT (₹ Cr) | 35 | 48 | 65 |
| EBITDA Margin | 15.2% | 16.8% | 17.3% |
| ROE | 14.1% | 16.5% | 18.7% |
| Debt-to-Equity | 0.23x | 0.19x | 0.15x |
💡 Steady growth with improved profitability and low leverage highlight financial stability.
💪 Key Strengths
✅ Market Leadership:
India’s No.1 helmet manufacturer with over 27% market share by volume.
✅ Strong Brand Recall:
“Studds” is synonymous with helmets in India; “SMK” is gaining traction in international markets.
✅ Diverse Product Portfolio:
Range extends from economy to premium helmets, along with a growing accessory line.
✅ Global Reach:
Exports to 70+ countries, with growing presence in Europe and Latin America.
✅ Operational Excellence:
Advanced R&D, in-house design, and modern manufacturing ensure product innovation.
⚠️ Key Risks to Watch
⚡ Offer for Sale (OFS):
Entire issue is OFS — proceeds go to existing shareholders. The company won’t receive new capital.
⚡ Dependence on Two-Wheeler Market:
More than 90% revenue from helmets; slowdown in two-wheeler sales could impact revenue.
⚡ Regulatory Sensitivity:
Helmet norms, road safety mandates, or changes in raw material pricing (ABS plastics, visors) can affect margins.
⚡ Valuation Premium:
At ₹585 per share, the issue is priced at ~33× earnings — on the higher side for the industry.
📈 Grey Market Premium (GMP) & Listing Outlook
As of October 29, 2025, Studds Accessories Ltd IPO is commanding a GMP of ₹55, implying an estimated listing price near ₹640.
This signals moderate investor optimism, backed by brand strength and consistent earnings growth.
If the premium sustains, investors could see a 10–12% listing gain.
💬 Analyst & Market Sentiment
Market analysts view Studds as a long-term structural play on India’s rising road safety awareness and growing two-wheeler base.
However, many recommend “Apply for Listing Gains”, citing the premium valuation and lack of fresh fund infusion.
🗣️ “Studds combines strong brand power with steady growth, but investors should be mindful of valuation comfort,” — Analysts note.
🔍 Investor Takeaway
Studds Accessories Ltd IPO represents a strong consumer brand story in India’s fast-growing mobility safety market.
- For short-term investors: Attractive for moderate listing gains (~10–12%).
- For long-term investors: Worth considering for brand leadership, export growth, and improving margins — though entry valuation remains on the higher side.
Verdict: ✅ Apply for Listing Gains; Hold selectively for long-term brand compounding.
📅 Important Dates
| Event | Date |
|---|---|
| IPO Opens | 30 October 2025 |
| IPO Closes | 3 November 2025 |
| Allotment Date | 5 November 2025 |
| Refunds Initiation | 6 November 2025 |
| Listing Date | 7 November 2025 |
🪙 Market Impact & Retail View
The IPO adds vibrancy to the consumer manufacturing segment. With auto component IPOs performing well recently, Studds Accessories Ltd is expected to attract retail enthusiasm similar to Mamaearth and RR Kabel listings.
In the near term, helmet manufacturers, auto parts, and safety gear stocks could see sentiment-driven movement on listing day.
🏁 Conclusion
Studds Accessories IPO blends strong fundamentals with solid brand visibility. While the OFS structure limits capital inflow for growth, the issue reflects investor appetite for consumer-brand-led manufacturing stories in India.
If listing gains materialize as expected, it could further boost confidence in upcoming mid-cap IPOs.
Subscription:
| Investor | 30 Oct 2025 | 31 Nov 2025 | 03 Nov 2025 |
|---|---|---|---|
| Anchor | |||
| QIB | |||
| Non-Institutional | |||
| BNII | |||
| SNII | |||
| EMP | |||
| Retail | |||
| Total |
GMP Trend:
| Date | GMP |
|---|---|
| 30 Oct 2025 | ₹0.00(0.00%) |
| 31 Nov 2025 | |
| 03 Nov 2025 |
It should be noted that IPO GMP is subject to extreme volatility, so an investment decision based solely on Patel Retail IPO GMP will prove risky. Therefore, before to investing, consider all factors and make the right investment decision whether to invest in Patel Retail IPO or not.
How to Check IPO Allotment Status:
MUFG Intime
To check IPO allotment status, follow the steps below:
- Click on the below allotment status check button.
- Select Company Name.
- Enter your PAN Number, Application Number or DP Client ID (Anyone).
- Click on Search.
NSE Website
To check IPO allotment status, follow the steps below:
- Click on the below allotment status check button.
- Select Company Name.
- Enter your PAN Number, Application Number or DP Client ID (Anyone).
- Click on Search.
BSE Webiste
To check IPO allotment status, follow the steps below:
- Click on the below allotment status check button.
- Select Company Name.
- Enter your PAN Number, Application Number or DP Client ID (Anyone).
- Click on Search.
📌 Stock Market Disclaimer
- Disclaimer: This post is for informational and educational purposes only and does not constitute financial advice or a recommendation to buy/sell any stock or share. Investing in the stock market involves risk. Past performance is not indicative of future results. Always conduct your own research or consult a licensed financial advisor before making investment decisions.
- The information provided on this platform is for educational and informational purposes only. It should not be considered as investment advice, stock recommendations, or financial guidance.
- ⚠️ Stock Market Investments
- Investing in equities, derivatives, mutual funds, and other financial instruments involves market risks, volatility, and the possibility of capital loss.
- Past performance of stocks or indices is not indicative of future returns.
- Always conduct your own research or consult a SEBI-registered financial advisor before making investment decisions.
- ⚠️ IPO (Initial Public Offerings)
- IPO details, issue size, subscription data, and allotment status shared here are based on publicly available information from company filings, stock exchanges, and merchant bankers.
- Investing in IPOs carries risks including listing volatility, business uncertainties, and sector performance dependency.
- Neither acceptance of applications nor allotment guarantees profits. Investors should evaluate their risk appetite before subscribing.
- ⚠️ GMP (Grey Market Premium)
- Grey Market Premium (GMP) is an unofficial and unregulated indicator of expected IPO listing price.
- GMP data is collected from market observers and informal trading circles; it does not have any legal or SEBI recognition.
- GMP values are highly speculative and may differ significantly from actual listing prices. Investors should not rely solely on GMP while taking investment decisions.
- ✅ General Advisory
- We do not provide any buy/sell/hold recommendations.
- Readers and investors are solely responsible for their investment actions and decisions.
- This platform, its authors, and affiliates are not liable for any direct or indirect financial loss arising from the use of this information.
- 🔒 Always invest responsibly and diversify your portfolio.
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