Studds Accessories was incorporated on February 3, 1983. The company designs, manufactures, and sells two-wheeler helmets under the ‘Studds’ and ‘SMK’ brands, along with accessories under the ‘Studds’ brand. It operates both in India and internationally, with key export markets in the Americas, Asia (excluding India), Europe, and other regions
| Bidding Dates |
|---|
| 30 Oct 2025 - 03 Nov 2025 |
| Subscription |
|---|
| 73.25x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹13,925 | 1 | 13 | 25 | 7.8 M | ₹557 - ₹585 | 61.75 % | ₹4336.9 M - ₹4554.9 M | RHP DOC |
Studds Accessories IPO SUBSCRIPTION STATUS
03 Nov '25Studds Accessories IPO overall subscription rate was 73.25 times the total available shares
Studds Accessories IPO retail subscription rate was 22.09 times in the retail segment
Studds Accessories IPO non-institutional investor subscription rate was 76.99 times in the non-institutional investor category
Studds Accessories IPO Qualified Institutional Bidder subscription rate was 159.99 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
03 Nov 2025 (Day 3) | 22.09x | 76.99x | 159.99x |
31 Oct 2025 (Day 2) | 6.02x | 9.62x | 0.04x |
30 Oct 2025 (Day 1) | 2.16x | 2.14x | 0.02x |
Studds Accessories FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| Q1FY26 | 149.2 | 20.2 | 23.9 | 17.1 | 20.3% |
| FY25 | 583.8 | 69.6 | 63.3 | 21.5 | 18.0% |
| FY24 | 529.0 | 57.2 | 71.9 | 40.3 | 17.1% |
| FY23 | 499.2 | 33.1 | 55.9 | 37.9 | 12.0% |
Studds Accessories IPO SUBSCRIPTION STATUS DETAILS
Studds Accessories had 7.8 M shares on offer
Studds Accessories IPO offer price was in the range ₹557 - ₹585
Studds Accessories IPO minimum Investment was ₹13925
Studds Accessories IPO issue size was ₹ 4336.9 M - ₹ 4554.9 M
Studds Accessories had a minimum lot size of 25 Shares per application
Studds Accessories NUMBER OF SHARES ON OFFER
Studds Accessories IPO IMPORTANT DATES
| Issue Open Date | 30 Oct 2025 |
| Issue close Date | 03 Nov 2025 |
| Allotment Date | 04 Nov 2025 |
| Refund Date | 06 Nov 2025 |
| Demat Account Credit Date | 06 Nov 2025 |
| Listing Date | 07 Nov 2025 |
| Listing on Exchange(s) | NSE and BSE |
| Studds Accessories Allotment Status | Exchange/ Registrar |
Studds Accessories IPO subscription opened on 30 Oct 2025, and closed on 03 Nov 2025
IPO allotment for Studds Accessories was finalized on Tuesday, 04 Nov 2025
IPO listing for Studds Accessories was on NSE and BSE on Friday, 07 Nov 2025
Studds Accessories IPO LISTING GAINS
| Issue Price (adjusted) | 585.0 |
| Listing Open Price | 565.0 |
| Listing Close Price | 560.3 |
| Listing Gain% | -3.4% |
| Current Gain% | -25.0% |
Studds Accessories Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Studds Accessories Ltd. | 438.8 | 1726.6 | 23.1 | 28.4 | 2.6 | 15.8 | 13 | 645.7 | 8.4 | 82.7 | 18.7 | 19 | 0.8 |
| Samvardhana Motherson International Ltd. | 168.5 | 177842.4 | 40.6 | 1.3 | 1.4 | 9.4 | 3.5 | 126414.2 | 10.7 | 3859.7 | 1.5 | 4.1 | 31.9 |
| Bosch Ltd. | 42950 | 126685.7 | 45.7 | 1.2 | 6.3 | 18.7 | 12.8 | 20888.7 | 10.5 | 2773.2 | 37.6 | 940.2 | 37.6 |
| UNO Minda Ltd. | 1285 | 74204.5 | 61.7 | 3.8 | 3.6 | 17.5 | 8.7 | 19692 | 17.2 | 1197.1 | 27 | 20.8 | 16.2 |
| Tube Investments of India Ltd. | 2772 | 53658.2 | 84.3 | -16 | 2.3 | 8.2 | 3 | 23234.6 | 17.1 | 636.8 | -5.5 | 32.9 | -5.3 |
| Sona BLW Precision Forgings Ltd. | 818 | 51009.7 | 73.3 | 3.8 | 10.3 | 10.7 | 8.6 | 4572.1 | 24.2 | 640.2 | 6.5 | 11.2 | 19.2 |
Studds Accessories INFORMATION ON IPO ISSUE
About Studds Accessories
Studds Accessories was incorporated on February 3, 1983. The company designs, manufactures, and sells two-wheeler helmets under the ‘Studds’ and ‘SMK’ brands, along with accessories under the ‘Studds’ brand. It operates both in India and internationally, with key export markets in the Americas, Asia (excluding India), Europe, and other regions
Object of the Issue
- To carry out the offer for sale of up to 7,786,120 equity shares of face value of Rs 5 each by the selling shareholders
- To achieve the benefits of listing the equity shares on the stock exchanges
Studds Accessories - PROMOTERS
| Name |
|---|
| Madhu Bhushan Khurana |
| Sidhartha Bhushan Khurana |
| Shilpa Arora |
Studds Accessories - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Madhu Bhushan Khurana | Chairman & Managing Director |
| Sidhartha Bhushan Khurana | Managing Director |
| Shilpa Arora | Whole-time Director |
| Pankaj Duhan | Independent Director |
| Deepshikha Singla | Independent Director |
| Shishira Rudrappa | Independent Director |
Studds Accessories Book Running Lead Manager
IIFL Capital Services Limited
studds.ipo@iiflcap.com
ICICI Securities Limited
studds.ipo@icicisecurities.com
Studds Accessories Registrar to the Offer
MUFG Intime India Private Limited
studds.ipo@in.mpms.mufg.com
Studds Accessories Strengths
Diversified product portfolio
The company offers a wide range of helmets and motorcycle accessories for both mass commuter and premium segments. SMK helmets target biker enthusiasts with high-performance motorcycles, featuring advanced materials like carbon fibre and additional features like Bluetooth and GPS, while Studds caters to a large commuter segment in India and export markets like the Philippines and Indonesia
Manufacturing and R&D capabilities
The company’s vertically integrated business model allows control over the entire process, from raw material procurement to sales, enabling faster product development cycles and quicker responses to market trends. With nearly five decades of production experience, this integration enhances quality control across all stages of manufacturing
Capital efficient business model
The company’s scalable business model leverages strong brand recall, integrated operations, and an extensive distribution network. This minimises advertising costs, reduces operating expenses, and facilitates efficient expansion across geographies without substantial capital investment
Studds Accessories Risks
Reputation risks
The company’s sales could be negatively impacted if it fails to maintain or enhance the ‘Studds’ and ‘SMK’ brands, potentially harming its business, financial condition, operations, and brand equity
Risks of procuring raw material
The company faces significant expenses for raw material procurement, and any disruption in supply or inability to secure materials at competitive prices could negatively impact its business, operations, and financial condition. Additionally, the absence of formal agreements with suppliers increases the risk of supply disruptions
Quality control
Any failure in quality control, whether domestically or internationally, could harm the company's business, operations, and financial condition. This may lead to product recalls, repairs, repurchases, or legal claims if product quality fails to meet customer expectations
IPO FAQs
This IPO consists of an offer for sale of up to Rs 455.5 crore, of 7,786,120 shares.
The promoters of the company are Madhu Bhushan Khurana, Sidhartha Bhushan Khurana and Shilpa Arora.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 557.0 - 585.0.
The IPO application opens on Oct 30, 2025 and closes on Nov 03, 2025.
The minimum lot size for the IPO is 25. The maximum lot size for the IPO is 325.
For all category investors, the minimum application amount for this IPO is Rs. 13,925.0, the maximum value for this IPO is Rs 190,125.0.
This IPO will be allotted on Nov 04, 2025.
The refund will be credited to your account on Nov 06, 2025.
The allotted shares will be credited to your demat on Nov 06, 2025.
Studds Accessories Ltd.’s shares listed on the stock exchanges on Nov 07, 2025.