Studds Accessories IPO: Day Two Check Subscription Status, Latest GMP
The company has set the price band in the range of Rs 557 to Rs 585 per equity share.
The initial public offer of helmet manufacturer Studds Accessories Ltd. sailed through on the first day of share sale on Thursday. The company's IPO received bids for 84,15,400 shares against 54,50,284 shares on offer, translating into 4.90 times subscription, according to details available on the NSE.
The firm has fixed a price band of Rs 557-585 per share, valuing it at around Rs 2,300 crore at the upper end of the range.
The IPO is only an offer for sale (OFS), with the promoter group and other shareholders offloading 77.86 lakh shares. Since the issue is entirely an OFS, Studds will not receive any proceeds, and all funds will go to the selling shareholders.
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. The public issue is being managed by IIFL Capital Services and ICICI Securities, with shares expected to list on the stock exchanges on Nov. 7.
Studds India IPO Details
Dates: Oct. 31-Nov. 3
Price Band: Rs 557-585 per share
Lot Size: 25 per lot
Issue size: Offer for sale of 77.9 lakh equity shares.
Indicated Market Cap: Rs 10,000 crore
Date of allotment: Nov. 4
Listing Date: Nov. 7
Subscription Status
The Studds Accessories IPO has been subscribed 4.90 times as of 4:30 p.m.
Qualified Institutional Buyers (QIBs): 3%
Non Institutional Investors (NIIS): 9.16 times
Retail Individual Investors: 5.85 times
Studds Accessories IPO GMP Today
According to InvestorGain, the latest GMP for the Studds Accessories IPO was Rs 63, as of 8 a.m. on Oct. 31. With an upper price band of Rs 585, the estimated listing price is Rs 648. This indicates an expected gain of 10.77% per share for investors.
Note: GMP does not represent official data and is based on speculation.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
