Studds Accessories IPO: Check application status, odds of allotment, latest GMP & more

Studds Accessories is scheduled to finalize the basis of allotment of its shares on Tuesday, November 04. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by Thursday, November 06, consider a market holiday on Wednesday, November 05. The helmet maker saw a bumper response from the investors during the bidding.

The IPO of Studds Accessories was open for subscription between October 30-November 03. It had offered its shares in the price band of Rs 557-585 per share with a lot size of 25 shares. The company raised a total of Rs 455.49 crore from its IPO, which was entirely an offer-for-sale (OFS) of up to 77,86,120 equity shares.

The issue was overall subscribed a whopping 73.25 times, fetching nearly 20.71 lakh applications, attracting bids over Rs 23,350 crore. The portion for qualified-institutional bidders (QIBs) was subscribed 159.99 times, while non-institutional investors (NIIs) quota was booked 76.99 times. The allocation for retail investors was subscribed 22.09 times.

Based on the bidding, here are the odds of allotment for IPO of Studds Accessories:

• Big HNI category: 2 investors out of 33 investors will get 350 shares (Probability: 6.06 per cent)
• Small HNI category: 1 investor out of 62 investors will get 350 shares (Probability: 1.61 per cent)
• Retail category: 1 investor out of 18 investors will get 25 shares. (Probability: 5.55 per cent)  

The grey market premium (GMP) of Studds Accessories has seen a sharp rebound despite volatile market sentiments. Last heard, the company was commanding a premium of Rs 70-75 in the unofficial market, suggesting a listing pop of 11-12 per cent for the investors. The GMP stood around Rs 65-70 a day ago.

Incorporated in 1975, Faridabad-based Studds Accessories is a manufacturer of two-wheeler helmets and motorcycle accessories. It designs, manufactures, markets, and sells helmets under the 'Studds' and 'SMK' brands, while other accessories are sold under the 'Studds' brand. Studds Accessories distributes its products across India and exports to over 70 countries.

IIFL Capital Services and ICICI Securities is the book running lead manager for Studds Accessories IPO and MUFG Intime India is the registrar of the issue. Refund initiations and credit of shares is likely to be done by Thursday, November 06. Shares of the company shall be listed on both NSE and BSE on Thursday, November 07.

Investors, who had bid for the issue of Studds Accessories, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1. Visit https://www.bseindia.com/investors/appli_check.aspx
2. Under the issue type, click Equity
3. Under the issue name, select Studds Accessories Limited in the dropbox
4. Write the application number
5. Add the PAN card ID
6. Click on 'I am not a Robot' and hit search button
7. Investors can also check the allotment status on the online portal of MUFG Intime India (https://in.mpms.mufg.com/Initial_Offer/public-issues.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.

1. Go to the web portal of MUFG Intime India Limited
2. Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized
3. You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4. In application type, select between ASBA and non-ASBA
5. Enter the details of the mode you selected in Step 2
6. For security purposes, fill the captcha accurately
7. Hit submit.