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Studds Accessories Ltd.
Studds Accessories Ltd.
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Overview

Studds Accessories Limited is the world's largest two-wheeler helmet manufacturer by volume as of Calendar Year 2024 and India's largest by revenue in Fiscal 2024. With nearly five decades of experience, the company designs, manufactures, and sells helmets under the 'Studds' and 'SMK' brands, along with other motorcycle accessories. It operates four vertically integrated manufacturing facilities in Faridabad and distributes its products across India and in over 70 countries worldwide, recently expanding its North American presence by acquiring Bikerz US Inc.

Opening Date

Oct 30, 2025

Closing Date

Nov 03, 2025

Listing Date

Nov 07, 2025

IPO Type

Mainboard

IPO Status

Open

Issue Size

455.49 Cr

Fresh Issue

Offer for Sale

455.49 Cr

Price Band

₹557 - ₹585

Lot Size

25

IPO Timeline

Oct 30, 2025
Open Date
Nov 03, 2025
Close Date
Nov 04, 2025
Allotment Date
Nov 06, 2025
Initiation of Refunds
Nov 07, 2025
Listing Date

Financials

Revenue

Profit After Tax (PAT)

IPO Objective

The objects of the Offer are to carry out the Offer for Sale and achieve the benefits of listing the Equity Shares on the Stock Exchanges.

  • To facilitate the Offer for Sale of up to 7,786,120 Equity Shares by the existing Selling Shareholders.

  • To achieve the benefits of listing the Equity Shares on the Stock Exchanges, which is expected to enhance brand visibility and image.

  • To provide liquidity to existing shareholders and establish a public trading market for the Equity Shares in India.

Key Performance Indicator

P/E Ratio

5.12

EPS

26.6

ROE

16.64%

ROCE

20.25%

RONW

15.49%

Debt to Equity Ratio

PAT Margin

11.93%

EBITDA Margin

17.96%

P/B

5.12

SWOT Analysis

Strengths

  • Largest two-wheeler helmet player in India by revenue and globally by volume, with strong brand recognition.

  • Extensive product portfolio with over 240 designs across brands catering to diverse consumer segments and price points.

  • Advanced, vertically integrated manufacturing capabilities ensuring quality control and operational efficiency.

  • Strong and well-developed sales and distribution network across India and in over 70 countries globally.

Weaknesses

  • High dependence on the sale of two-wheeler helmets, which constitutes over 90% of total revenue.

  • Geographical concentration of all manufacturing facilities in Faridabad, increasing operational and regional risks.

  • Absence of long-term contracts with key raw material suppliers, leading to potential price volatility and supply disruptions.

  • Historical instances of non-compliance with provisions of the Companies Act, which could pose reputational risks.

Opportunities

  • Expanding into the growing global two-wheeler helmet market, projected to grow at a CAGR of 5.10%.

  • Capitalizing on market consolidation in India as stricter safety regulations phase out unorganized players.

  • Increasing focus on the premium helmet segment to cater to the rising trend of leisure and high-performance biking.

  • Strategic expansion into new international markets such as South America and ASEAN countries to diversify revenue.

Threats

  • Intense competition from a fragmented market with numerous unorganized players and established brands.

  • Exposure to foreign currency fluctuations which can adversely impact export revenues and profit margins.

  • Evolving international safety standards and trade policies that can disrupt export operations and increase costs.

  • Potential disruptions in the supply chain due to reliance on third-party logistics and transportation providers.

Subscription Rate

CategoryShares Bid ForShares OfferedTimes Subscribed
Qualified Institutional Buyers25.98 K15.57 L0.02x
Non-Institutional Investors24.99 L11.68 L2.14x
Retail Individual Investors59.00 L27.25 L2.16x
Total84.25 L54.50 L1.55x