Studds Accessories IPO subscribed 73 times on Day 3; Check GMP

Studds Accessories shares will be listed on the exchanges on November 7, while the allotment is expected by November 4.

Studds Accessories IPO garnered strong investor interest on the final day of bidding on November 3. The initial share sale of helmets manufacturer received 73.25 times subscription on the third day of bidding. The company's IPO got bids for 39.92-crore shares against 54.5-lakh shares on offer, as per NSE data.

The portion for non-institutional investors fetched 77 times subscription while the category for Retail Individual Investors (RIIs) got subscribed 23 times. The quota for Qualified Institutional Buyers (QIBs) received 160 times subscription. Earlier, the company raised nearly Rs 137 crore from anchor investors.

The company's Rs 455 crore IPO would conclude on November 3. The firm has fixed a price band of Rs 557-585 per share, valuing it at around Rs 2,300 crore at the upper end of the range.

Studds Accessories IPO GMP Today Price 

According to platforms tracking they grey market activites, the shares of Studds Accessories are commanding a GMP of 11 percent in the unregulated market. Investorgain quoted a GMP of Rs 65 for the shares of the company, indicating a listing gain of 11.11 percent. IPO Watch quoted a GMP of 11.45 percent.

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Founded in 1975, Studds designs, manufactures, markets, and sells two-wheeler helmets under the 'Studds' and 'SMK' brands, as well as a range of motorcycle accessories, including luggage, gloves, rain suits, riding jackets, eyewear, and helmet locks.

While Studds caters to the mass and mid-market segments, SMK, launched in 2016, targets premium motorcyclists.

Studds Accessories shares will be listed on the exchanges on November 7, while the allotment is expected by November 4.

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