Studds Accessories Ltd files DRHP with SEBI for IPO

Studds Accessories Ltd, the most important manufacturer of –Two wheeler helmets within the world in terms of quantity of two-wheeler helmets offered in FY2018, filed its DRHP with SEBI, as consistent with media reviews.

The equity shares will be indexed at the BSE and the NSE. Edelweiss monetary offerings Ltd and IIFL Holdings Ltd are the book running lead managers (BRLMs) to the issue.

The Initial Public Offering (IPO) incorporates equity shares of face price of Rs 5 every of Studds accessories Ltd comprising a fresh issue aggregating as much as Rs. 98cr and a proposal on the market of up to 3,939,000 equity stocks comprising up to 2,331,880 equity stocks by using Madhu Bhushan Khurana and as much as 294,720 equity shares Sidhartha Bhushan Khurana (together, the “Promoter promoting Shareholders”); and up to 1,312,400 equity shares by the other selling shareholders (as described hereinafter, and together with the promoter promoting shareholders, the “Selling Shareholders”).

The company proposes to utilize the internet proceeds raised via the fresh issue for (i) part-financing the bike helmet and add-ons production facility in Faridabad; (ii) component-financing the bicycle helmet manufacturing facility in Faridabad; and (iii) standard corporate functions.

Studds accessories are currently the best manufacturer of top rate two-wheeler helmets in India and SMK brand of – two wheeler helmets are advertised in 23 countries in Europe, Asia, and Latin America as of June 30, 2018.

Company Promoters: Mr. Madhu Bhushan Khurana, Mr. Sidhartha Bhushan