The ₹2,035 crore IPO of helmet manufacturer Studds Accessories Ltd will open on October 30 and close on November 3. This will be an entirely Offer for Sale (OFS), involving the sale of 77.86 lakh shares. The company will not receive any new capital from this. The shares will be listed on BSE and NSE on November 7.
Studds Accessories IPO: The much-anticipated IPO of Studds Accessories Ltd, India's largest helmet manufacturer, will open on October 30, and investors will be able to bid until November 3. This offer will be entirely an OFS, with promoters and shareholders selling 77.86 lakh shares. The company manufactures and sells its products under the ‘Studds’ and ‘SMK’ brands. In FY 2025, the company's profit increased by 21.7% to ₹69.6 crore, while revenue stood at ₹583.8 crore. The listing will take place on BSE and NSE on November 7.
IPO will be entirely an Offer for Sale
This IPO of Studds Accessories is being brought entirely as an Offer for Sale (OFS). Under this issue, promoters and other shareholders will jointly offer 77.86 lakh shares for sale. This means that the entire amount raised from the IPO will go to the selling shareholders, and the company will not receive any new capital from this issue.
The company had filed its Draft Red Herring Prospectus (DRHP) with SEBI for this IPO for the second time in March 2025. SEBI's approval was received in July. It is noteworthy that the company had previously attempted to launch an IPO in 2018, but that plan could not be completed. At that time, the IPO proposed issuing new shares worth ₹98 crore and an OFS of 39.4 lakh shares.
India's Largest Helmet Manufacturer
Studds Accessories is India's largest helmet manufacturer. In terms of revenue, it is number one in the country, while in terms of production volume, the company is considered the world's largest helmet company. The company manufactures and sells its products under the brand names ‘Studds’ and ‘SMK’.
The company's business is not limited to helmets alone. It also manufactures and sells accessories such as luggage, gloves, rain suits, and eyewear. Studds' products are available in almost every state in India, and the company's products are exported to more than 70 countries.
The company's ‘SMK’ brand was launched in 2016 and is marketed globally in the premium segment. Additionally, Studds also manufactures helmets for international brands like Daytona (USA) and O’Neal (USA, Europe, and Australia).
Company Promoters and Shareholding
The promoters of Studds Accessories include Madhu Bhushan Khurana, his son Siddharth Bhushan Khurana, and daughter Shilpa Arora. These three together hold a 78.78 percent stake in the company. This family has been active in helmet manufacturing for several decades and has elevated the company's brand identity to a global level.
Strong Financial Position
The company's performance in FY 2025 has been significantly better. Studds Accessories' profit increased by 21.7 percent to ₹69.6 crore. In the previous fiscal year, the company's profit was ₹57.2 crore. Revenue also grew by 10.4 percent to ₹583.8 crore, compared to ₹529 crore in FY 2024.
The results for the April-June 2025 quarter have also been positive. In this quarter, the company reported a profit of ₹20.2 crore and revenue of ₹149.2 crore.
According to the company, due to improved demand, expansion into new markets, and brand recognition, further increases in sales and profits are expected in the coming period.
