Studds Accessories is a manufacturer of helmets (for male and female) & two-wheeler accessories has submitted draft red herring paper (DRHP) with the market regulator the Securities and Exchange Board of India to launch an IPO to raise funds.

This IPO comprises and an offer for sale of around 39.39 lac equity shares by the promoters Sidhartha Bhushan Khurana, Madhu Bhushan Khurana & other shareholders besides a fresh issue of shares worth up to INR 98 crore, according to DRHP submitted to Sebi.

The company will utilize the proceeds to finance the two-wheeler helmet & accessories, bicycle helmet producing facilities in Faridabad & general corporate purposes. IIFL Holdings and Edelweiss Financial Services will manage the public issue of this company.

The company strongly believes that the listing of the shares will enhance its brand value and visibility among the potential and current customers.