Studds Accessories IPO – Review, Allotment, Subscription, GMP & DRHP
Last Updated Date: Nov 17, 2022Studds Accessories Limited is the largest manufacturer of two-wheeler helmets in the world in terms of volume of two-wheeler helmets sold in Fiscal 2018 . The Company flagship brand Studds, the largest selling two-wheeler helmet brand in India in terms of volume of two-wheeler helmets sold in India in Fiscal 2018 is marketed and sold in 21 countries as of June 30, 2018. Studds Accessories IPO comprises of [●] Equity shares, face value of Rs.5 each.
Let’s have a detailed review of the company and analytics of the Studds Accessories IPO release date, IPO offer price, subscription, Studds Accessories IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
Studds Accessories IPO Review & Ratings
| IPO Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 8.5/10 |
| Industry Ranking | 7.8/10 |
| Company Background | 7.9/10 |
| Company Reputation | 7.9/10 |
| Competitive Edge | 7.7/10 |
| Financial Statements | 7.8/10 |
| Popularity Index | 8.4/10 |
| Promoters Reputation | 7.7/10 |
| Retail Appetite | 7.9/10 |
| Top Brokers Review | 7.9/10 |
| Overall Ratings | 8.1/10 |
| Star Ratings | ★★★★☆ |
Summary of Studds Accessories Limited IPO
Studds Accessories Limited are the largest manufacturer of two-wheeler helmets in the world in terms of volume of two-wheeler helmets sold in Fiscal 2018.The Company flagship brand Studds, the largest selling two-wheeler helmet brand in India in terms of volume of two-wheeler helmets sold in India in Fiscal 2018 is marketed and sold in 21 countries as of June 30, 2018.The Issue comprises of a Public Issue of [●] Equity shares of face value of Rs.5.00 each fully paid up.
From FY 2014-15 to FY 2016-2017, as per the Restated Financial Statements,
From fiscal 2016 to 2017, company’s revenue from operations has increased at a growth rate of 5.88%.
For the period ended March 31, 2018, FY 2016-17 and FY 2015-16, its revenue from operations was Rs.3,364.44 Lakhs, Rs 3,091.25 Lakhs and Rs.2,919.34 Lakhs, respectively representing growth of 5.88% from the FY 2015-16 to FY 2016-17. For the period ended March 31, 2018, FY 2016-17 and FY 2015-16 our net profit was Rs. 514.80 Lakhs, Rs.366.75 Lakhs and Rs. 386.28 Lakhs, respectively.
- During the financial year 2017-18 the Other Income of our company increased to Rs.53.45 Lakhs as against Rs. 20.08 Lakhs for the financial year 2016-17, representing increase by 166.18% due to increase in interest income & insurance claim in FY 2017- 18.
- Company’s Net Profit after tax for the year 2017-18 is Rs.328.81 Lakhs from the year 2017-16 of Rs. 236.01 Lakhs showing an increase of 39.32% from last year, showing remarkable performance.
The Promoter of this company is Mr. Madhu Bhushan Khurana and Mr. Sidhartha Bhushan Khurana. The lead manager to the issue is Edelweiss Financial Services Limited and IIFL Holdings Limited and the Registrar to this issue is Link Intime India Private Limited .
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Studds Accessories IPO Date
The opening and the closing date of IPO of Studds Accessories Limited is not known yet.
Studds Accessories IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| Day 1 | ||||
| Day 2 | ||||
| Day 3 | ||||
| Day 4 | ||||
| Day 5 | ||||
| Shares Offered or Net Issue |
The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.
Studds Accessories IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Studds Accessories IPO Price Band
The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed.
Studds Accessories IPO Equity Share Offering
[●] Equity Shares of Rs 5/- each but Issue Price is yet to be disclosed .
Studds Accessories Limited – Company Overview
Studds Accessories Limited are the largest manufacturer of two-wheeler helmets in the world in terms of volume of two-wheeler helmets sold in Fiscal 2018. The Company flagship brand Studds, the largest selling two-wheeler helmet brand in India in terms of volume of two-wheeler helmets sold in India in Fiscal 2018 is marketed and sold in 21 countries as of June 30, 2018
The Company launched their premium helmet brand ‘SMK’ in 2016, which has emerged as the leading brand with the largest market share in the premium two-wheeler helmet segment in India in terms of volume of premium two-wheeler helmets sold in Fiscal 2018 . The Company is currently the only manufacturer of premium two-wheeler helmets in India and their SMK brand of two-wheeler helmets is marketed in 23 countries in Europe, Asia and Latin America as of June 30, 2018.
The Company is promoted by Mr. Madhu Bhushan Khurana and Mr. Sidhartha Bhushan Khurana and is the guiding force behind the growth and strategic decisions of the Company.
Competitive Strengths of Studds Accessories Limited:
- Largest manufacturer of helmets with leading brands and wide product range
- Customer centricity supported by integrated operations
- Strong pan-India and global presence supported by an extensive and well-developed sales and dealer network and major quality accreditations
- Capital efficient and scalable business model
- Experienced Promoters and Management team
Business strategies of Studds Accessories Limited:
- Expand production capacity and deepen our backward integration
- Increase presence in the premium helmet segment through the SMK brand
- Expand product portfolio
- Continue to develop and enhance our brands
Studds Accessories Limited – Financial Statements
A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:
Financial Summary:
| Restated Standalone Financial Statements -Amount (in INR & Millions) | |||||
| 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | |
| Total Assets | 2,228.33 | 1,416.99 | 1,234.28 | 908.56 | 753.39 |
| Total Revenue | 3,417.89 | 3,111.33 | 2,930.26 | 2,059.44 | 1,735.39+ |
| Total Expense | 2,903.09 | 2,744.59 | 2,543.97 | 1,899.09 | 1,622.18 |
| Profit After Tax | 328.81 | 236.01 | 245.59 | 103.51 | 75.01 |
Earnings per Equity Share (in Lakhs)
| 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | |
| Basic & Diluted | 16.71 | 11.99 | 12.48 |
From the above statements, one could find that the Studds Accessories Limited may perform well.
Studds Accessories IPO – Promoters
The Promoter of this company are:
- Mr. Madhu Bhushan Khurana
- Mr. Sidhartha Bhushan Khurana
List of Related Parties (Key Managerial Personnel)
- Mr. Madhu Bhushan Khurana Chairman and Managing Director
- Mr. Sidhartha Bhushan Khurana Managing Director
- Mr. Shanker Dev Choudhary Independent Director
- Ms. Pallavi Saluja
Interest in promotion of the Company
Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.
Property Interest
The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.
Interest in Intellectual Rights of the Company
Promoters has not shown any interest in acquiring the intellectual rights of the company.
Studds Accessories IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to [●] Equity Shares aggregating up to Rs. [●] million |
| Of which: | |
| Fresh Issue | Up to [●] Equity Shares aggregating up to Rs. 980.00 million |
| Offer for sale | Up to 3,939,000 Equity Shares aggregating up to Rs. [●] million |
| Of which: | |
| A. QIB Category |
Not more than [●] Equity Shares |
| (i) Anchor Investor Portion | [●] Equity Shares |
| ii) Balance available for allocation in the QIB Category (assuming Anchor Investor Portion is fully subscribed) | [●] Equity Shares |
| Of which | |
| Available for allocation to Mutual Funds only (5% of the QIB Category excluding the Anchor Investor Portion) | [●] Equity Shares |
| Balance for all QIBs including Mutual Funds | [●] Equity Shares |
| Retail Investors Portion | Not less than [●] Equity Shares |
| Non-Retail Investors Portion | Not less than [●] Equity Shares |
| Equity Shares outstanding prior to the Issue | 9,676,700 Equity Shares |
| Equity Shares outstanding after the Issue | [●] Equity Shares |
Studds Accessories IPO Issue Object
These are the IPO Issue Objects of the company
- Part-financing the motorcycle helmet and accessories manufacturing facility situated in Faridabad (“Manufacturing Facility III”);
- Part-financing the bicycle helmet manufacturing facility situated in Faridabad (“Manufacturing Facility IV”);
- General corporate purposes.
Studds Accessories IPO – Basis of the Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Largest manufacturer of two-wheeler helmets with leading brands and wide product range.
- Customer centricity supported by integrated operations.
- Strong pan-India and global presence supported by an extensive and well-developed sales and dealer network and major quality accreditations.
- Capital efficient and scalable business model.
- Experienced Promoters and Management team.
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-16 | 16.71 | 27.70 | 1085.75 |
| 31-Mar-17 | 11.91 | 27.12 | – |
| 31-Mar-18 | 12.48 | 38.65 | – |
Studds Accessories IPO Lead Managers
| Lead Managers |
| Edelweiss Financial Services Limited 14th Floor, Edelweiss House Off C S T Road, Kalina Mumbai 400 098, Maharashtra, India Tel: +91 22 4009 4400 Fax: +91 22 4086 3610 E-mail: sal.ipo@edelweissfin.com Website: www.edelweissfin.com Investor Grievance E-mail: customerservice.mb@edelweissfin.com Contact Person: Yashraj Shetty/ Jay Mehta SEBI Registration No.: INM0000010650IIFL Holdings Limited |
Studds Accessories IPO Registrar to offer
| Registrar to the Offer |
| LINK INTIME INDIA PRIVATE LIMITED C-101, 1st Floor, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai – 400 083, India Tel: +91 22 49186200; Fax: +91 22 4918 6195 Website: www.linkintime.co.in Email: electra.ipo@linkintime.co.in Investor Grievance Id: electra.ipo@linkintime.co.in Contact Person: Shanti Gopalkrishnan SEBI Registration Number: INR000004058 |
Other Details:
- Statutory Auditor – Rajan Chhabra & Co., Chartered Accountants
- Peer Review Auditor – Rajan Chhabra & Co., Chartered Accountants
- Bankers to the Company – HDFC Bank Limited
Studds Accessories IPO Review by Top 10 Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
Studds Accessories IPO Grey Market Premium
The Studds Accessories IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
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Studds Accessories IPO News
News 1 – IPO ISSUE OPENS SOON (Download Prospectus)
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