Studds Accessories Debuts at Stock Market with Surprising Discount
Studds Accessories, a leading helmet manufacturer, listed its shares with a discount on BSE and NSE. Despite a high subscription rate for its IPO, the shares started trading below the issue price. The company, known for its Studds and SMK brands, caters to various markets globally.
- Country:
- India
Shares of helmet manufacturer Studds Accessories Ltd debuted with a notable discount, trading at Rs 570 on BSE and Rs 565 on NSE, below the issue price of Rs 585. This comes despite the IPO being oversubscribed by 73.25 times on its final day.
With a market valuation of Rs 2,255.54 crore, the IPO of Rs 455 crore was available in a price band of Rs 557-585 per share and only offered as an Offer For Sale of 77.86 lakh shares. Heavy institutional interest contributed to its high subscription rate.
Founded in 1975, Studds crafts and markets helmets and motorcycle accessories under its 'Studds' and 'SMK' brands. The company exports to over 70 countries, collaborating with brands like Daytona and O'Neal, and supplies major OEMs, including Hero MotoCorp and Royal Enfield.
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