By Vivek K. Mobile: 09920183006 Email:email@example.com
Studds Accessories Limited, the largest manufacturer of two-wheeler helmets in the world in terms of volume of two-wheeler helmets sold in Fiscal 2018 (Source: F&S Report), filed its DRHP with SEBI.
Studds Accessories, flagship brand Studds, is the largest selling two-wheeler helmet brand in India in terms of volume of two-wheeler helmets sold in India in Fiscal 2018 (Source: F&S Report), is marketed and sold in 21 countries as of June 30, 2018.
Studds Accessories is are currently the only manufacturer of premium two-wheeler helmets in India (Source: F&S Report) and SMK brand of two-wheeler helmets is marketed in 23 countries in Europe, Asia and Latin America as of June 30, 2018.
The IPO Initial Public Offering (IPO) comprises of equity shares of face value of Rs. 5 each (“Equity Shares”) of Studds Accessories Limited (“Company” or the “Issuer”) comprising a fresh issue aggregating up to Rs. 98 crore (the “Fresh Issue”) and an offer for sale of up to 3,939,000 equity shares comprising up to 2,331,880 equity shares by Mr. Madhu Bhushan Khurana and up to 294,720 equity shares Sidhartha Bhushan Khurana (together, the “Promoter Selling Shareholders”) and up to 1,312,400 equity shares by the other selling shareholders (as defined hereinafter, and together with the promoter selling shareholders, the “Selling Shareholders”).
The Company proposes to utilize the Net Proceeds raised through the Fresh Issue for: (i) Part-financing the motorcycle helmet and accessories manufacturing facility situated in Faridabad (“Manufacturing Facility III”); (ii) Part-financing the bicycle helmet manufacturing facility situated in Faridabad (“Manufacturing Facility IV”); and (iii) General corporate purposes.
Edelweiss Financial Services Limited and IIFL Holdings Limited are the book running lead managers.
The equity shares will be listed on BSE and NSE. Read more