Studds Accessories Takes Another Leap Towards IPO with OFS

Studds Accessories, a renowned helmet manufacturer, is making another attempt to go public by filing for an IPO. This will be an offer for sale, involving 77.9 lakh shares. Despite past setbacks, the company is determined to move forward, aiming to expand its market influence worldwide.

Helmets manufacturer, Studds Accessories, has taken a significant step toward public trading by submitting preliminary documents to Sebi for an initial public offering (IPO). This move marks their second attempt to go public after a similar effort almost seven years ago.

The IPO will be structured as an offer for sale, with the promoter group and existing shareholders divesting 77.9 lakh shares, as detailed in the draft red herring prospectus (DRHP) submitted on Wednesday. Consequently, Studds Accessories will not directly receive any proceeds from the IPO.

Renowned for manufacturing helmets and accessories under the 'Studds' and 'SMK' brands, the company extends its reach across more than 70 countries. It also produces helmets for brands like Daytona and O'Neal. With reported earnings of Rs 285 crore and a net profit of Rs 33 crore for the last six months ending September 2024, the IPO is managed by IIFL Capital Services and ICICI Securities.

(With inputs from agencies.)