Economy

Studds Accessories files IPO papers with Sebi

Updated : August 27, 2018 05:23 PM IST

The initial public offer (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, according to the draft papers.

Further, the company believes that listing of the equity shares will enhance its visibility and brand image among existing and potential customers.

Studds Accessories files IPO papers with Sebi

Studds Accessories Ltd, manufacturer of helmets and two-wheeler accessories, has filed draft papers with capital markets regulator Sebi to float an initial share-sale. The initial public offer (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, according to the draft papers.

Proceeds of the issue will be used to part-finance the motorcycle helmet and accessories as well as bicycle helmet manufacturing facilities in Faridabad and for general corporate purposes.

Further, the company believes that listing of the equity shares will enhance its visibility and brand image among existing and potential customers.

Edelweiss Financial Services and IIFL Holdings will manage the company's public issue.

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