The initial public offering of Studds Accessories continued to see strong investor interest on its second day of public bidding (October 31). The Rs 455.5-crore IPO has been subscribed more than 5 times its offer size (270 percent) on Day 2.

The maiden public issue of the helmets manufacturer received bids for more than 2.77 crore shares, as against the offer size of 54.5 lakh shares, according to data on NSE. The portions kept for retail and Non-Institutional Investors (NII) have been booked more than 6 times (602 percent) and nearly 10 times (961 percent) respectively. Qualified Institutional Buyers (QIBs) have booked 4 percent of their reserved portion.

The company launched its IPO to raise Rs 455.59 crore entirely through an offer for sale (OFS) of 0.78 crore shares by promoters and other selling shareholders at a price band of Rs 557-585 per share. Its IPO will remain open between October 30 and November 3.

Investors can bid for a minimum of 25 shares, requiring an investment of Rs 14,625 at the upper price band, and in multiples thereafter. The allotments will likely be finalized by November 4, and the shares are scheduled to be listed on stock exchanges BSE and NSE on November 7.

Studds Accessories is India’s largest two-wheeler helmet company by revenue and the world’s largest by volume. At the upper price band of Rs 585, Studds is valued at a P/E of 33.05x based on FY25 earnings. This makes the issue fully priced, but justified considering its steady growth trajectory, brand dominance, and future expansion plans.