Studds Accessories has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The IPO comprises fresh issuance of shares worth Rs 98 crore besides an offer for sale of 39.39 lakh equity shares by promoters Madhu Bhushan Khurana and Sidhartha Bhushan Khurana, and other existing shareholders.
The objects of the offer are to part-finance the motorcycle helmet and accessories as well as bicycle helmet manufacturing facilities in Faridabad and for general corporate purposes. Edelweiss Financial Services and IIFL Holdings are book running lead managers to the issue.
Studds Accessories is one of the leading manufacturers and exporters of Helmets & two wheeler accessories in India.
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