Helmet Giant Studds Accessories' IPO Soars with Overwhelming Backing
Studds Accessories Ltd's IPO received overwhelming demand, with 73.25 times subscription. The Rs 455 crore offering saw high interest from institutional buyers, but as an OFS, proceeds will go to selling shareholders. The company, a leader in helmet manufacturing, exports globally and partners with top OEMs.
- Country:
- India
The initial public offering of Studds Accessories Ltd, a renowned helmet manufacturer, saw immense interest, subscribing 73.25 times its original offer on the final day. Institutional buyers led this demand, pushing the company's shares to become highly sought after.
During the Rs 455 crore IPO bid period, a total of 39.92 crore shares were applied for against 54.5 lakh shares available. Qualified Institutional Buyers (QIBs) alone bid 159.99 times over, underscoring their faith in the company's market proposition.
Established in 1975, Studds designs, produces, and sells two-wheeler helmets and motorcycle accessories to markets across India and over 70 international territories. With major clients including Hero MotoCorp and Honda Cars India, Studds remains a formidable player in its sector.
Google News