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With the IPO subscription window opening on October 30, 2025, Studds Accessories launches a 100 percent offer-for-sale issue to raise Rs 455 Crore, already trading at a grey-market premium of around Rs 55, sparking investor curiosity on listing gains.
Studds sold about 7.4 million helmets in FY25.
Mumbai: Two-wheeler helmet manufacturer Studds Accessories Ltd is heading to the public markets with strong investor interest, thanks to its dominant market position and a grey-market premium signaling potential listing gains. The IPO subscription window opens on October 30 and closes on November 3, 2025, with bids invited at a price band of Rs 557 to Rs 585 per share. At the upper band, the company is valued at around Rs 2,300 Crore.
This is a 100 percent offer-for-sale (OFS), meaning Studds Accessories will not receive any proceeds from the IPO. Existing shareholders, including promoters, will sell 77.86 Lakh shares, making it an entirely liquidity-driven issue for current owners.
Investor sentiment is bullish, unlisted shares are trading at a grey-market premium of around Rs 55 over the upper band, indicating a potential listing price of approximately Rs 640, roughly 9.4 percent higher than the IPO price.
Founded in 1975, Studds designs, manufactures, and distributes two-wheeler helmets and motorcycle accessories under the “Studds” and “SMK” brands. Its product range includes helmets, gloves, rain suits, riding jackets, luggage, eyewear, and helmet locks. The company operates three manufacturing facilities with a combined annual capacity exceeding 9 million units and sold about 7.4 million helmets in FY25. Studds exports to more than 70 countries while maintaining a strong domestic presence.
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The IPO opens for subscription on October 30 and closes on November 3.
Studds is India’s largest helmet manufacturer by revenue and the world’s largest by volume in 2024. It benefits from integrated manufacturing, a wide design catalogue, and a strong presence across mass, mid, and premium segments. Exports cover more than 70 countries with over 360 active distributors.
However, risks include high reliance on helmet sales (over 90 percent of revenue), potential manufacturing disruptions, regulatory or certification delays in export markets, and no fresh capital being raised through this IPO. Investors should weigh these factors carefully.
With a healthy grey-market premium and strong market presence, Studds Accessories’ IPO offers potential listing gains, but the lack of fresh funds and concentration in helmets makes careful evaluation essential before subscribing.
