Helmets maker Studds Equipment information IPO papers with Sebi

Studds chairman and managing director Madhu Bhushan Khurana. File.
| Photograph Credit score: Ch. Vijaya Bhaskar

Helmets producer Studds Equipment has filed preliminary papers with capital markets regulator Sebi to drift an preliminary public providing (IPO).

This marks the corporate’s second try to go public. Beforehand, the corporate had filed draft papers almost seven years in the past.

The IPO can be a suggestion on the market (OFS), with the promoter group and different shareholders promoting 77.9 lakh shares, in line with the draft pink herring prospectus (DRHP) filed on Wednesday.

Because the IPO is completely an OFS, the corporate is not going to obtain any funds from the problem and the proceeds will go to the promoting shareholders.

Studds Equipment designs, manufactures, markets and sells two-wheeler helmets underneath the ‘Studds’ and ‘SMK’ manufacturers and different equipment comparable to two-wheeler baggage, gloves, helmet locking machine, rain fits, using jacket and eye put on underneath the ‘Studds’ model.

The merchandise are bought pan-India and in additional than 70 nations, with key export markets located throughout Americas, Asia (excluding India), Europe and remainder of the world.

It additionally manufactures helmets for Jay Squared LLC, that are bought underneath the “Daytona” model within the US, in addition to for O’Neal underneath their branding, supplying to markets in Europe, the U.S. and Australia.

On the monetary entrance, the corporate reported a income from operations at ₹285 crore, and a internet revenue of ₹33 crore for the six months ended September 2024.

IIFL Capital Providers and ICICI Securities are the lead managers for the general public subject.

Studds Equipment had initially filed its draft papers with the markets regulator in August 2018. Whereas it obtained Sebi’s approval in December 2018, the corporate in the end didn’t proceed with the IPO at the moment.