Studds IPO: Check price band, key risks, listing date, peers, P/E ratio & other key details here

The initial public offering (IPO) of Studds Accessories is scheduled to open on October 29, 2025, marking the entry of India’s largest two-wheeler helmet manufacturer into the primary market. The company aims to raise Rs 455.48 crore through the issue, which is entirely an offer for sale (OFS) of around 7.79 million shares, with no fresh issue component. The IPO is expected to close on November 3, 2025. Founded in 1975, the Studds brand caters to the mass and mid-market segments of the Indian helmet industry. In 2016, the company launched SMK, a premium brand that targets the high-end motorcycle market. Here are 10 key things investors should know about the IPO.

Price Band: The price band for the forthcoming public offer has been fixed at Rs 557-Rs 585 per share. Investors can bid for a minimum of 25 equity shares and in multiples of 25 equity shares thereafter. The market capitalisation of the company at the upper price band is estimated at Rs 2,302 crore, according to Axis Capital.

Listing: Shares of the company are proposed to be listed on BSE and NSE by November 7, 2025.

Key markets and capacity: The products of the company are sold pan-India and in more than 70 countries internationally, with our key export markets situated across the Americas, Asia, Europe and the rest of the world. As of March 31, 2025, the company’s manufacturing facilities I, II, and III have a combined annualised capacity of producing 9.04 million units.

Distributors: Studds has built a strong distribution network with 363 active distributors across India. It also supplies helmets and motorcycle accessories to leading OEMs, including Hero MotoCorp, Honda Cars India, Suzuki Motorcycle India, Eicher Motors (Royal Enfield), and India Yamaha Motor.

Book running lead managers: IIFL Capital Services and ICICI Securities are the book running lead managers to the issue. On the other hand, MUFG Intime India is the registrar to the offer.

Shareholding pattern: Post-IPO, promoter Madhu Bhushan Khurana’s stake will decline to 28.30% from 37.95%, while Sidhartha Bhushan Khurana’s shareholding will reduce to 29.75% from 31.79%.

P/E ratio: The price-to-earnings ratio based on diluted EPS for the financial year ended 2025 for the company at the upper price band is 33.05 times, and at the lower end of the price band is 31.47 times. On the other hand, the Nifty P/E ratio stood at 22.67 times as of October 24, 2025.

Financials: For the year ended, the company posted a consolidated revenue from operations of Rs 583.82 crore, up 10.36%, against Rs 529.02 crore a year ago. On the other hand, the profit of the company increased 21.69% YoY to Rs 69.64 crore during the same period.

Key risks: Any decrease in motorcycle sales could hurt the business, cash flows, results of operation and financial position. According to the company, it incurs significant expenses in relation to the procurement of primary raw materials. If it is unable to procure adequate amounts of raw material at competitive prices, the company’s business, results of operations and financial condition may be adversely affected. Further, it does not generally enter into agreements with the suppliers and accordingly may face disruptions in supply from the current suppliers.

Other listed peers: The company do not have any listed peers in India. Steelbird Helmets and Vega Helmets are among the other major helmet manufacturers in the country.