Helmets manufacturer Studds Accessories has received Securities and Exchange Board of India’s (SEBI) go-ahead to raise funds through initial public offering (IPO). The IPO will be an offer for sale (OFS), with the promoter group and other shareholders selling 77.9 lakh shares.
Since the IPO is entirely an OFS, the company will not receive any funds from the issue and the proceeds will go to the selling shareholders. IIFL Capital Services and ICICI Securities are the lead managers for the public issue. The shares of the company are proposed to be listed on the BSE and the NSE.
Studds Accessories designs, manufactures, markets and sells two-wheeler helmets under the 'Studds' and 'SMK' brands and other accessories such as two-wheeler luggage, gloves, helmet locking device, rain suits, riding jacket and eyewear under the 'Studds' brand.
