Studds Accessories Raises Rs 137 Crore in Anchor Investment Ahead of IPO
Helmet maker Studds Accessories has secured nearly Rs 137 crore from anchor investors before its IPO, scheduled to open on October 30. This IPO, valued at Rs 2,300 crore, is an offer for sale, garnering no proceeds for the company. Studds exports its products globally across 70 countries.
- Country:
- India
Studds Accessories, a prominent helmet manufacturer, has successfully raised close to Rs 137 crore from anchor investors, in anticipation of its forthcoming initial public offering (IPO) set to begin on October 30 and conclude on November 3.
The anchor investor round saw significant participation from notable entities including HDFC Mutual Fund, Nippon India MF, and others. The allocation amounted to around Rs 136.64 crore, as detailed in a circular uploaded on BSE's website.
The company's IPO is entirely an offer for sale, thus directing all proceeds to selling shareholders. Listed on November 7, Studds' products enjoy a global presence, exporting to over 70 countries and serving various sectors, including premium motorcycling and government institutions.
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