Studds Accessories IPO is a book-built issue with a total size of ₹455.49 crore. The entire issue consists of a fresh issue of offer for sale of 0.78 crore shares, aiming to raise funds for the company’s business needs. The IPO opens for subscription on October 30, 2025, and will close on November 3, 2025.
The basis of allotment is expected to be finalised on November 4, 2025, and the shares are likely to be listed on NSE and BSE on November 7, 2025. The price band for the issue is set between ₹557 and ₹585 per share, offering investors an entry at different levels.
The minimum application size is 25 shares, making the minimum investment for retail investors ₹14,625 at the upper band. For HNI investors, the minimum lot size is 14 lots, equivalent to 350 shares, amounting to ₹2,04,750.
IIFL Capital Services Limited and ICICI Securities Limited are acting as the book running lead managers, while MUFG Intime India Private Limited has been appointed as the registrar to the issue.
Studds Accessories IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Achieve the benefits of listing the Equity Shares on the Stock Exchanges
About Studds Accessories Limited
Studds Accessories Limited is an Indian manufacturer engaged in the design, production, marketing, and sale of two-wheeler helmets and accessories.
The company operates under two primary brands, Studds and SMK, which are sold in India and across more than 70 international markets.
As of March 31, 2025, its three manufacturing facilities have a combined annualised capacity of 9.04 million units, with approximately 7.40 million helmets sold during Fiscal 2025.
Established nearly five decades ago, Studds has built a broad product portfolio that includes helmets, riding gear, and accessories such as luggage, gloves, rain suits, and eyewear.
The Studds brand caters primarily to the mass and mid-market segments, while the SMK brand, introduced in 2016, targets the premium motorcycle helmet market in India and mid-market segments internationally.
The company also manufactures helmets for Jay Squared LLC, sold under the “Daytona” brand in the United States, and for O’Neal, serving markets in Europe, the United States, and Australia.
Studds Accessories Limited held a domestic market share of 27.30% by volume and 25.50% by value in Fiscal 2024 (Source: CARE Report).
The company’s focus lies in developing helmets that meet recognised safety and quality standards, supported by certifications such as ISO 9001:2015, ISO 14001:2015, IS 4151:2015, and ECE 22.06.
Drawing on its industry experience, Studds continues to design products that emphasise safety, comfort, and performance while addressing the diverse needs of riders across global markets.
Industry Outlook
- Global growth was 3.5% in CY23, moderated to 3.3% in CY24, and is projected to decline to 3.0% in CY25.
- Global trade is expected to be disrupted by new U.S. tariffs and countermeasures, leading to higher tariff rates and slower economic growth.
- Countries are likely to revisit their economic priorities and policies in response to these developments.
- Central banks are expected to adjust monetary policies, while fiscal prudence and structural reforms will be important for managing debt and reducing inequality.
- Growth in advanced economies is projected to increase to 1.8% in CY24 and remain stable for the next two years.
- The United States is expected to grow 2.8% in CY24 and 2.2% in CY25, supported by consumption and investment but constrained by tighter fiscal conditions and a cooling labour market.
- The Euro Area is anticipated to recover from 0.8% growth in CY24 to 1.2% in CY25, driven by better exports, higher real wages, and a gradual easing of monetary policy.
- Emerging market and developing economies are forecasted to maintain steady growth at 4.2% in both CY24 and CY25.
How To Apply for the Studds Accessories IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Studds Accessories IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How To Check the Allotment Status of Studds Accessories IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Studds Accessories Limited
Registered office: Plot No. 918, Sector 68, IMT Faridabad, Haryana, 121004
Phone:+91 129429 6500
E-mail: secretarial@studds.com
Website:http://www.studds.com/
Studds Accessories IPO Lot Size Details
| Application | Lots | Shares | Amount |
| Individual investors (Retail) (Min) | 1 | 25 | ₹14,625 |
| Individual investors (Retail) (Max) | 13 | 325 | ₹1,90,125 |
| S-HNI (Min) | 14 | 350 | ₹2,04,750 |
| S-HNI (Max) | 68 | 1,700 | ₹9,94,500 |
| B-HNI (Min) | 69 | 1,725 | ₹10,09,125 |
Studds Accessories IPO Promoter Holding
The promoters of the company include Madhu Bhushan Khurana, Sidhartha Bhushan Khurana and Shilpa Arora.
| Share Holding Pre-Issue | 78.78% |
| Share Holding Post Issue | 61.67% |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Key Performance Indicators for Studds Accessories IPO
| KPI | Value |
| ROE (%) | 16.64 |
| RoCE (%) | 20.25 |
| Debt/Equity | -0.07 |
| RoNW (%) | 15.49 |
| EBITDA Margin (%) | 17.96 |
Studds Accessories IPO Prospectus
Studds Accessories IPO Registrar and Lead Managers
Studds Accessories IPO Lead Managers
- IIFL Capital Services Limited
- ICICI Securities Limited
Registrar for Studds Accessories IPO
MUFG Intime India Private Limited
- Contact Number: +91-22-4918 6270
- Email Address:studds.ipo@in.mpms.mufg.com
- Studds Accessories IPO Registrar’s Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Financial Performance of Studds Accessories Limited
| Particulars | Year ending on March 31, 2025 | Year ending on March 31, 2024 | Year ending on March 31, 2023 |
| Revenue from Operations (₹ in million) | 5,838.16 | 5,290.23 | 4,991.69 |
| Total Income (₹ in million) | 5,958.90 | 5,358.38 | 5,064.80 |
| Revenue Growth (Y-o-Y) (%) | 10.36 | 5.98 | 7.93 |
| EBITDA (₹ in million) | 1,048.40 | 901.92 | 600.53 |
| EBITDA Margin (%) | 17.96 | 17.05 | 12.03 |
| Profit After Tax (₹ in million) | 696.41 | 572.26 | 331.48 |
| PAT Margin (%) | 11.93 | 10.82 | 6.64 |
Studds Accessories Limited Peer Comparison
| Company Name | Revenue FY 2024 (₹ million) | EBITDA (₹ million) | EBITDA Margin (%) |
| Studds Accessories Limited | 5,290.23 | 901.93 | 17.05 |
| Vega Auto Accessories Private Limited | 4,740.30 | 892.30 | 18.83 |
| Steelbird Hi-Tech India Limited | 2,098.09 | 404.28 | 19.27 |
Strengths and Opportunities of Studds Accessories Limited
- Leading position as the largest two-wheeler helmet manufacturer in India by revenue in Fiscal 2024 and globally by volume in Calendar Year 2024.
- Broad and diverse product portfolio across multiple price points catering to mass, mid, and premium market segments.
- Vertically integrated manufacturing operations providing control over raw materials, production, and distribution.
- Strong design and development capabilities enabling innovation and adherence to global safety standards.
- Extensive domestic and international market presence with distribution across more than 70 countries.
Risks and Threats of Studds Accessories Limited
- Presence of counterfeit and low-quality helmets in the market reducing brand credibility and affecting pricing power.
- Increasing regulatory compliance requirements leading to higher operational and testing costs.
- Dependence on key raw materials such as polycarbonate and fiberglass that are subject to price volatility.
- Exposure to supply chain disruptions impacting production timelines and material availability.
- High price sensitivity in the Indian market limiting scalability of premium product segments.
