Studds Accessories Limited is India’s largest manufacturer of two-wheeler helmets and the world’s largest by volume. The company designs, manufactures, and markets helmets under the “Studds” and “SMK” brands, along with a range of two-wheeler lifestyle accessories under the Studds brand.
The company’s portfolio includes: Helmets, two-wheeler luggage, gloves, helmet security guards, rain suits, riding jackets, and eyewear. As of August 31, 2025, Studds offers over 240 designs and 19,000+ SKUs across its product categories.
Studds operates four manufacturing facilities in Faridabad with a combined capacity of 9.04 million units per year.
- Facilities II, III & IV are on company-owned land, while Facility I is partially leasehold.
- Each facility features automated visor coating, robotic painting, EPS liner production, and an in-house VCA (UK)–certified testing lab.
Studds has a strong presence across India with a network of over 360 distributors and exports its products to more than 70 countries across the Americas, Asia, Europe, Australia, and the Middle East.
The company also manufactures helmets for international brands, including:
- Jay Squared LLC – Sold under the “Daytona” brand in the United States
- O’Neal – Supplied to markets in Europe, the United States, and Australia
The company has a 75-member R&D team focused on product design, innovation, and integrating technologies such as Bluetooth and GPS.
Studds sold 7.40 million helmets in FY2025, supported by an annual manufacturing capacity of 9.04 million units. The company offers over 240 helmet designs and 19,258 SKUs, backed by a 75-member R&D team, and has a strong presence in more than 70 countries worldwide.
Studds Accessories IPO – Details
| IPO Opening Date | 30 October 2025 |
| IPO Closing Date | 03 November 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 77,86,120 Shares Worth ₹455.49 Crore Offer For Sale: 77,86,120 Shares Worth ₹455.49 Crore |
| Face Value | ₹5 per equity share |
| IPO Price | ₹557 – ₹585 per share |
| Market Lot | 25 Shares |
| Min Order | 25 Shares [ 1 Lot ] |
| Listing At | BSE, NSE |
| Register | MUFG Intime India Pvt.Ltd. |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Studds Accessories IPO – Date Schedule
| IPO Open Date | 30 October 2025 |
| IPO Close Date | 03 November 2025 |
| Basis of Allotment | 04 November 2025 |
| Initiation of Refund | 06 November 2025 |
| Credit of Shares to Demat Account | 06 November 2025 |
| IPO Listing Date | 07 November 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 03, 2025 |
Studds Accessories IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 25 | ₹14,625 |
| Retail (Max) | 13 | 325 | ₹1,90,125 |
| S-HNI (Min) | 14 | 350 | ₹2,04,750 |
| S-HNI (Max) | 68 | 1,700 | ₹9,94,500 |
| B-HNI (Min) | 69 | 1,725 | ₹10,09,125 |
Competitive Strength
- Largest domestic player of two-wheeler helmets.
- Wide design and product catalogue across price points, catering to diverse consumer requirements.
- Advanced manufacturing and D&D capabilities with vertically integrated operations.
- Strong pan-India and global presence supported by an extensive and well-developed sales and distribution network and major quality accreditations
- Capital efficient and sustainable business model.
- Experienced Promoters and Management team.
Company Promoters
- Madhu Bhushan Khurana
- Sidhartha Bhushan Khurana
- Shilpa Arora
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2023 | ₹506.48 Cr | ₹46.00 Cr | ₹33.15 Cr | ₹30.58 Cr |
| 31 March 2024 | ₹535.84 Cr | ₹45.95 Cr | ₹57.23 Cr | ₹0.61 Cr |
| 31 March 2025 | ₹595.89 Cr | ₹50.09 Cr | ₹69.64 Cr | ₹2.91 Cr |
| 30 June 2025 | ₹152.01 Cr | ₹12.43 Cr | ₹20.25 Cr | ₹2.91 Cr |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 16.64% |
| ROCE | 20.25% |
| Debt/Equity | -0.07 |
| RoNW | 15.49% |
| PAT Margin | 11.93% |
| EBITDA Margin | 17.96% |
| Price to Book Value | 5.12 |
| Market Capitalization | 2302.17 Cr |
Object Of The Issue
- The IPO aims to list Studds Accessories Limited’s equity shares on the stock exchanges and facilitate an offer for sale of up to 77,86,120 equity shares of ₹5 each. The entire proceeds will go to the selling shareholders after deducting expenses and taxes, while the company will not receive any funds from the offer.
Studds Accessories IPO Peer Comparison
There are no listed companies, either in India or globally, that are comparable in size or scale to Studds Accessories Limited within the same industry.
✅Strengths
- Strong brand reputation with “Studds” and “SMK” leading in safety and innovation.
- Wide portfolio with 240+ helmet designs and multiple accessories.
- Exports to 70+ countries, supplying helmets to Daytona and O’Neal.
- Advanced facilities with 9.04 million annual production capacity.
- 75-member R&D team focusing on new designs and smart helmet tech.
⚠️Risks
- Heavy dependence on helmet sales for revenue.
- Raw material price fluctuations may impact margins.
- Competition from organized and unorganized players.
- Dependence on key domestic and export markets.
- Risk of lagging in design or technology updates.
Studds Accessories IPO Promoter Holding
| Pre Issue Share Holding | 78.78% |
| Post Issue Share Holding | 61.76% |
Studds Accessories IPO Prospectus
Company Contact Information
| Studds Accessories Ltd. Plot No. 918, Sector 68, IMT Faridabad, Haryana, 12100 Phone: +91 129429 6500 Email: secretarial@studds.com Website: http://www.studds.com/ |
Studds Accessories IPO Registrar
| MUFG Intime India Pvt.Ltd. Phone: +91-22-4918 6270 Email: studds.ipo@in.mpms.mufg.com Website: https://linkintime.co.in/Initial_Offer/public-issues.html |
Studds Accessories IPO Lead Manager(s)
| 1. ICICI Securities Limited 2. IIFL Capital Services Limited |
Studds Accessories IPO FAQs
| What is Studds Accessories IPO? Studds Accessories IPO is a main-board IPO. The issue is priced at ₹557 to ₹585 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will Studds Accessories IPO open? The IPO is to open on 30 October 2025 for QIB, NII, and Retail Investors. |
| What is Studds Accessories IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the Studds Accessories IPO Size? Studds Accessories IPO size is ₹455.49 Crore. |
| What is the Studds Accessories IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 25 Shares with ₹14,625, while the maximum bid is 325 Shares with ₹1,90,125. |
| What is the Studds Accessories IPO Allotment Date? Studds Accessories IPO allotment date is 04 November 2025. |
| What is the Studds Accessories IPO Listing Date? Studds Accessories IPO listing date is 07 November 2025. The IPO is to be listed on BSE and NSE. |
