Helmets maker Studds Accessories files IPO papers with Sebi

Helmets producer Studds Accessories has filed preliminary papers with capital markets regulator Sebi to drift an preliminary public providing (IPO). This marks the corporate’s second try to go public. Beforehand, the corporate had filed draft papers almost seven years in the past.

The IPO might be a proposal on the market (OFS), with the promoter group and different shareholders promoting 77.9 lakh shares, in line with the draft pink herring prospectus (DRHP) filed on Wednesday.

For the reason that IPO is fully an OFS, the corporate won’t obtain any funds from the problem and the proceeds will go to the promoting shareholders.

Studds Accessories designs, manufactures, markets and sells two-wheeler helmets beneath the ‘Studds’ and ‘SMK’ manufacturers and different equipment similar to two-wheeler baggage, gloves, helmet locking gadget, rain fits, driving jacket and eye put on beneath the ‘Studds’ model.

The merchandise are bought pan-India and in additional than 70 nations, with key export markets located throughout Americas, Asia (excluding India), Europe and remainder of the world.

It additionally manufactures helmets for Jay Squared LLC, that are bought beneath the “Daytona” model within the US, in addition to for O’Neal beneath their branding, supplying to markets in Europe, the US and Australia. On the monetary entrance, the corporate reported a income from operations at Rs 285 crore, and a web revenue of Rs 33 crore for the six months ended September 2024. IIFL Capital Providers and ICICI Securities are the lead managers for the general public problem.

Studds Accessories had initially filed its draft papers with the markets regulator in August 2018. Whereas it obtained Sebi’s approval in December 2018, the corporate finally didn’t proceed with the IPO at the moment.