New Delhi: Shares of helmet manufacturer Studds Accessories Ltd on Friday listed with a discount of over 3 per cent against the issue price of Rs 585.The stock started trading at Rs 570, a decline of 2.56 per cent from the issue price on the BSE.At the NSE, it listed at Rs 565, a discount of 3.41 per cent.
The company's market valuation stood at Rs 2,255.54 crore.The initial public offer of Studds Accessories Ltd received 73.25 times subscription on the final day of share sale on Monday, led by heavy demand from institutional buyers.The company's Rs 455 crore IPO had a price band of Rs 557-585 per share.
The IPO was only an Offer For Sale (OFS) of 77.86 lakh shares.Founded in 1975, Studds designs, manufactures, markets, and sells two-wheeler helmets under the 'Studds' and 'SMK' brands, as well as a range of motorcycle accessories, including luggage, gloves, rain suits, riding jackets, eyewear, and helmet locks.While Studds caters to the mass and mid-market segments, SMK, launched in 2016, targets premium motorcyclists.
The company's products are sold across India and exported to over 70 countries, with key markets spanning the Americas, Asia (excluding India), Europe, and other regions. It also manufactures helmets for international brands such as Jay Squared LLC (sold under the Daytona brand in the United States) and O'Neal, which are distributed across Europe, the US, and Australia.
The company supplies products to leading motorcycle original equipment manufacturers (OEMs), including Hero MotoCorp, Honda Cars India, Suzuki Motorcycle India, Eicher Motors (Royal Enfield), and India Yamaha Motor.It also caters to government and institutional buyers, such as the Central Police Canteens and the Canteen Stores Department.
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