🏍️ Studds Accessories IPO: Price Band, Financials, GMP, and Expert Analysis
Studds Accessories Limited, India’s largest two-wheeler helmet manufacturer, is gearing up for a highly anticipated Initial Public Offering (IPO) that has caught the attention of both retail and institutional investors. Known for its global reputation in protective headgear and motorcycle accessories, Studds aims to raise capital to expand production, strengthen R&D, and enhance its international footprint.
Founded in 1973, Studds Accessories has built an enduring brand presence in more than 40 countries, offering helmets, motorcycle gear, and lifestyle accessories under premium sub-brands like Studds and SMK Helmets. The company’s IPO is expected to open soon, and early market trends suggest strong investor interest — especially given India’s growing two-wheeler segment and rising awareness of road safety.
This article provides a comprehensive breakdown of the Studds Accessories IPO — including its financial performance (past 3 years), issue details, objectives, Grey Market Premium (GMP), valuation, pros and cons, experts’ opinions, and key FAQs to help investors make an informed decision.
Studds Accessories IPO Details
| Particular | Details |
|---|---|
| Issue Price Band | ₹557 – ₹585 per share |
| IPO Size | ₹455.49 crore |
| IPO Opening Date | October 30, 2025 |
| IPO Closing Date | November 3, 2025 |
| Expected Listing Date | November 7, 2025 |
| Grey Market Premium (GMP) | ₹50–₹55 per share (~9–10%) |
| Industry | Two-Wheeler Helmets & Accessories |
| Promoters | Madhu Bhushan Khurana, Sidhartha Bhushan Khurana |
🏢 About Studds Accessories Limited
Studds Accessories Limited is India’s leading two-wheeler helmet and accessories manufacturer, with a strong global presence across 40+ countries. Founded in the 1980s, the brand has evolved from a small domestic unit into an international exporter of IS, ECE, and DOT-certified helmets.
The company’s product portfolio includes:
- Full-face, open-face, and off-road helmets
- Motorcycle accessories (visors, gloves, etc.)
- OEM manufacturing for leading two-wheeler companies
Studds operates multiple state-of-the-art manufacturing facilities in Haryana, including one of Asia’s largest helmet plants. It also has an in-house R&D division dedicated to design innovation and safety enhancements.
💡 IPO Objective — Why This Public Offer?
The IPO consists of both fresh equity issuance and an Offer for Sale (OFS) by existing shareholders. The key objectives include:
- Funding expansion for new product lines and production capacity
- Working capital requirements to support domestic & export growth
- Debt reduction to maintain a low leverage ratio
- Listing benefits to enhance brand visibility and corporate profile
By going public, Studds aims to strengthen its balance sheet, support future growth, and unlock value for shareholders.
💰 Studds Accessories IPO Details
📅 Important Dates
| Event | Date |
|---|---|
| IPO Open Date | October 30, 2025 |
| IPO Close Date | November 3, 2025 |
| Basis of Allotment | November 5, 2025 |
| Listing Date (Tentative) | November 7, 2025 |
📦 Lot Size & Application
Retail investors can bid for a minimum of 1 lot (to be announced) using UPI or ASBA via brokers such as Zerodha, Groww, or Upstox.
📊 Studds Accessories Financial Performance (Last 3 Years)
Below is a summarized snapshot from the company’s FY2022–FY2025 performance:
| FY | Revenue (₹ Cr) | EBITDA Margin | PAT (₹ Cr) | PAT Growth | EPS (₹) |
|---|---|---|---|---|---|
| FY2022 | ~440 | ~14% | ~40 | — | 12.5 |
| FY2023 | ~499 | ~16% | ~55 | +37% | 14.9 |
| FY2024 | ~550 | ~18% | ~68 | +23% | 16.8 |
| FY2025* | ~605 | ~20% | ~84 | +23% | 17.7 |
(*FY2025 provisional figures based on RHP summary)
Key Highlights:
- Revenue CAGR (FY22–FY25): ~11.2%
- Net Profit CAGR: ~25%
- Low debt levels, strong working capital efficiency
- ROE improved to 15.5%, indicating strong capital efficiency
📎 These numbers reflect consistent performance, margin expansion, and operational efficiency.
⚙️ Valuation and Peer Comparison
At the upper price band of ₹585 with EPS of ₹17.7 (FY25), the P/E ratio stands around 33x, positioning Studds among premium mid-cap manufacturers.
| Company | Industry | P/E | ROE |
|---|---|---|---|
| Studds Accessories (IPO) | Helmets | 33x | 15.5% |
| Steelbird Helmets (Unlisted) | Helmets | ~28x | 14% |
| Uno Minda Ltd | Auto Ancillary | ~40x | 17% |
| Endurance Tech | Auto Ancillary | ~37x | 16% |
👉 Studds’ valuation is reasonable compared to peers, considering its leadership and margin growth trajectory.
💸 GMP (Grey Market Premium) Update
The Studds Accessories IPO GMP is trending around ₹50–₹55 per share (as of October 28, 2025), indicating a 9–10% listing gain potential.
However, investors should treat GMP as a sentiment indicator, not a guarantee of listing performance.
📎 Market analysts predict a healthy debut, supported by consistent financials and brand trust.
⚖️ Pros & Cons
✅ Pros
- India’s No. 1 helmet manufacturer by revenue
- Global presence in 40+ countries
- Strong brand recall with affordable and premium segments
- Steady margin growth and low debt
- Expanding domestic two-wheeler market supports demand
⚠️ Cons
- Heavily dependent on two-wheeler sales trends
- Raw material volatility can impact margins
- High competition from domestic and global players
- IPO valuation slightly premium; requires sustained growth
🧠 Expert View — Should You Invest?
According to early brokerage insights and market analysts:
- Angel One: “Studds offers strong fundamentals but premium valuation — ideal for medium-term investors.”
- HDFC Securities: “Brand leadership and profitability justify subscription; monitor post-listing performance.”
- ICICI Direct: “Apply for listing gains; long-term returns depend on expansion in exports.”
🔍 Our Editorial Take (Humanized)
Studds Accessories IPO represents a blend of growth, brand strength, and quality management. For investors seeking a consumer-safety theme linked to India’s growing mobility market, this IPO could be rewarding.
Short-term investors may enjoy listing gains, while long-term holders could benefit from expansion in the premium helmet segment.
However, entry at a fair valuation and patience post-listing will be key.
🧾 How to Apply for Studds IPO
- Log in to your broker app (Zerodha / Groww / Upstox)
- Go to the IPO section
- Select “Studds Accessories Limited IPO”
- Enter bid quantity & price (select Cut-off Price)
- Approve the UPI mandate from your banking app
- Wait for allotment notification on the listing date
🔗 IPO Application Guide (internal link placeholder)
❓ FAQs — Studds Accessories IPO
Q1. What is the price band of Studds Accessories IPO?
A: The price band is ₹557–₹585 per share.
Q2. What is the IPO issue size?
A: The total issue size is around ₹455.49 crore.
Q3. When does Studds IPO open and close?
A: Opens on October 30, 2025, and closes on November 3, 2025.
Q4. What is Studds IPO GMP today?
A: As of now, the GMP is ₹50–₹55 per share, indicating moderate listing optimism.
Q5. Should investors apply for Studds Accessories IPO?
A: Yes, if you believe in the long-term growth of the two-wheeler accessories sector and brand leadership of Studds.
🏁 Final Verdict — Should You Apply?
Studds Accessories IPO is backed by:
- Strong financial growth
- Expanding manufacturing footprint
- Increasing export potential
- Brand credibility in the consumer safety segment
However, investors should evaluate:
- The premium valuation (P/E ~33x)
- Dependence on two-wheeler demand cycles
- Competition in both domestic & international markets
👉 Verdict:
Apply for listing gains if GMP holds and market sentiment remains positive.
For long-term investment, consider a partial allocation and track quarterly performance.
