For investors, it can be quite challenging to decide if the Studds Accessories IPO is a good investment or not. If you are unsure and still thinking about whether to apply or skip this IPO, don’t worry. In this article, we present the top key factors and a detailed review of the Studds Accessories IPO. This will help you analyze the strengths, risks, and financial details of the Studds Accessories IPO, improving your investment decision.
About Company
Studds Accessories Limited is one of the leading companies involved in the manufacturing of two-wheeler helmets and other motorcycle accessories, including two-wheeler luggage, gloves, helmet locking devices, rain suits, riding jackets, and eyewear in India. They design, manufacture, market, and sell two-wheeler helmets under the ‘Studds’ and ‘SMK’ brands.
Their products are also sold in over 40 countries, with key export markets in America, Asia, Europe, and other regions. Studds Accessories Limited is a company from Faridabad, Haryana, India. It was incorporated in 1975 and started operations in 1983. They have received a lot of love and support from customers around the world. Furthermore, they are the largest two-wheeler helmet company in India by revenue in Fiscal 2023 and the largest in the world by the number of helmets sold in Fiscal 2024.
Strengths
- Studds Accessories is the Largest domestic player of two-wheeler helmets and other motorcycle accessories in India.
- The company offers a wide range of designs and products at different prices to meet various customer needs.
- The company has little to no debt remaining.
- The company has maintained a steady dividend payout of 17.2%.
- They have advanced manufacturing and design capabilities with fully integrated operations.
Weaknesses
- If the company failed to maintain or grow its Studds and SMK brands, it could hurt the sales, business, and brand value.
- Any disruption or shutdown of manufacturing facilities could seriously affect the company’s operations and finances.
- The company mostly depends on a few key raw material suppliers. Any Interruption or delay in the supply can badly affect the business, cash flow, and overall performance.
- In the past, they had experienced negative cash flow. If this continues, it can badly impact the business and financial health.
- If their products fail to maintain quality in India or abroad, or do not meet the customers requirements can adversely affect the business with product replacement or result in legal issues.
Studds Accessories IPO Review
| Reviewer | Recommendation |
| IPO Watch | May Apply |
| Capital Market | May Apply |
| Canara Bank Securities Ltd | Apply |
| Emkay Global | |
| Hem Securities | |
| IDBI Capital | |
| Marwadi Shares | |
| Nirmal Bang | |
| SBICAP Securities | |
| Sharekhan | |
| SMC Global | |
| Sushil Finance | |
| Swastika Investmart | |
| Ventura Securities | |
| Geojit | |
| Reliance Securities | |
| BP Wealth | |
| ICICIdirect | |
| Choice Broking |
Studds Accessories IPO Details
| IPO Open Date: | October 30, 2025 |
| IPO Close Date: | November 3, 2025 |
| Face Value: | ₹5 Per Equity Share |
| IPO Price Band: | ₹557 to ₹585 Per Share |
| Issue Size: | ₹455.49 Crores |
| Offer-for-Sale | Approx 77,86,120 equity shares |
| Registrar | MUFG Intime India Pvt.Ltd. |
| IPO Lead Managers | IIFL Capital Services Ltd. ICICI Securities Ltd. |
| Basis of Allotment | November 4, 2025 |
| IPO Listing Date: | November 7, 2025 |
| Listing | BSE, NSE |
Financial Performance Trend Details
| Particulars | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 |
| Total Income | ₹152.01 Crores | ₹595.89 Crores | ₹535.84 Crores |
| Revenue from Operations | ₹149.18 Crores | ₹583.81 Crores | ₹529.02 Crores |
| EBITDA | ₹30.26 Crores | ₹104.84 Crores | ₹90.19 Crores |
| EBITDA Margin | 20.28% | 17.96% | 17.05% |
| Profit after Tax (PAT) | ₹20.25 Crores | ₹69.64 Crores | ₹57.23 Crores |
| PAT Margin | 13.57% | 11.93% | 10.82% |
| Net Worth | ₹469.77 Crores | ₹449.48 Crores | ₹387.41 Crores |
| Reserves and Surplus | ₹450.09 Crores | ₹429.80 Crores | ₹377.57 Crores |
| Total Borrowings | ₹2.91 Crores | ₹2.91 Crores | ₹0.61 Crores |
Key Indicators
| KPI | Values |
| ROE | 16.64% |
| ROCE | 20.25% |
| Debt/Equity | -0.07 |
| RoNW | 15.49% |
| PAT Margin | 11.93% |
| Price to Book Value | 5.12 |
| Market Capitalization | 2302.17 |
Peer Comparison with the Company
There are no listed companies that are comparable in size to the Company in India or globally in the same industry.
Promoters & Track Records, if any
- Madhu Bhushan Khurana, aged 76 years, is the Chairman and Managing Director and the Promoter of the Company. He holds 14,935,560 of Equity shares, representing 37.95% of the pre-offer paid-up Equity Share capital in the company.
- Sidhartha Bhushan Khurana, aged 48 years, is the Managing Director and the Promoter of the Company. He holds 12,509,360 of Equity shares, representing 31.79% of pre-offer paid-up Equity share capital in the company.
- Shilpa Arora, aged 52 years, is the Whole-time Director and the Promoter of the Company. She holds 180,000 Equity Shares, representing 0.46% of the pre-offer paid-up Equity share capital in the company.
Object of the IPO
- The proceeds raised from the fresh issue will be used to gain the benefits of listing the equity shares on the stock exchanges.
Studds Accessories IPO – Should You Apply or Not?
Studds Accessories benefits from a strong brand recognition, global presence, diverse product range, advanced manufacturing capabilities, and a leading market position in the helmet and two-wheeler accessories in India supports its long-term growth potential. However, Dependence on key suppliers, raw material price fluctuation, negative cash flow, and high competition in the market are some of the major concerns.
As of October 28, the GMP of the Studds Accessories is ₹55, indicating a listing gain of around 8% to 11%. The verdict is that Short-term investors can consider applying for the IPO for listing gains after evaluating GMP trends and market sentiment. Whereas Long-term investors must analyze the risks, strengths, competition, and supplier dependence before subscribing.
Please note:
Investors are advised to make their own decisions and apply entirely at their own risk. This article is written using information from the company’s RHP (Red Herring Prospectus) data and online sources. If you have any queries, kindly contact the IPO Watch Team.
