Business
Studds Accessories IPO Day 2: Issue Receives 5.08x; Should You Apply? Check GMP
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Unlisted shares of Studds Accessories are trading at Rs 648 apiece in the grey market, which is a GMP of 10.77% over the upper IPO price of Rs 585, indicating mild listing gains.
Studds Accessories IPO.
Studds Accessories IPO Day 2 GMP: Helmets manufacturer Studds Accessories Ltd is witnessing a second day of its Rs 455-crore initial public offer (IPO). 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.
On the second day of bidding on Friday, the IPO received a 5.08x subscription, garnering bids for 2,77,11,500 shares as against the 54,50,284 shares on offer. Its retail category has received a 6.03x subscription, while the NII (non-institutional investor) quota has received a 9.62x subscription. The QIB category received a 0.04x subscription.
The company’s Rs 455-crore IPO would conclude on November 3.
Studds Accessories IPO GMP Today
According to market observers, unlisted shares of Studds Accessories Ltd are currently trading at Rs 648 apiece in the grey market, which is a grey market premium (GMP) of 10.77% over the upper IPO price of Rs 585, indicating mild listing gains for investors.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Studds Accessories IPO: Should You Apply?
Anand Rathi Research underscored Studds’ strong domestic footprint and expanding global reach, enabled by a wide distribution network and a commitment to quality backed by major international and domestic certifications.
At the upper price band, the IPO is valued at a P/E of 28.5x based on annualised FY2026 earnings, implying a post-issue market capitalisation of Rs 23,021 million. Anand Rathi noted that while the issue appears fully priced, it has recommended a ‘Subscribe – Long Term’ rating given the company’s industry leadership and growth prospects.
According to Canara Bank Securities, Studds is the largest two-wheeler helmet manufacturer in India by FY2024 revenue and the global leader by volume in CY2024. The company operates three manufacturing facilities with a combined capacity of 9.04 million units and sold 7.40 million helmets in FY2025. It exports to over 70 countries, and a fifth plant is expected to become operational by the end of the year.
The brokerage highlighted Studds’ strong ties with OEMs, supportive regulatory tailwinds such as stricter helmet norms, and a 21% CAGR in exports as key growth drivers. It also pointed out the company’s comfortable liquidity position, with a PAT of Rs 70 crore and cash reserves of Rs 63 crore. However, it noted that topline growth for FY2026 is expected to be modest at 2.1%, and EBITDA remains below pre-COVID levels. Despite this, Canara Bank Securities has issued a “Subscribe” rating on the offer.
Studds Accessories IPO Anchor Investment
The company has raised nearly Rs 137 crore from anchor investors, ahead of the IPO.
Studds Accessories IPO Structure
The IPO is only an offer for sale (OFS), with the promoter group and other shareholders offloading 77.86 lakh shares. Since the issue is entirely an OFS, Studds will not receive any proceeds, and all funds will go to the selling shareholders.
About Studds Accessories
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.
The company’s products are sold across India and exported to over 70 countries, with key markets spanning the Americas, Asia (excluding India), Europe, and other regions. It also manufactures helmets for international brands such as Jay Squared LLC (sold under the Daytona brand in the United States) and O’Neal, which are distributed across Europe, the US, and Australia.
The company supplies products to leading motorcycle original equipment manufacturers (OEMs), including Hero MotoCorp, Honda Cars India, Suzuki Motorcycle India, Eicher Motors (Royal Enfield), and India Yamaha Motor.
It also caters to government and institutional buyers, such as the Central Police Canteens and the Canteen Stores Department.
The public issue is being managed by IIFL Capital Services and ICICI Securities, with shares expected to list on the stock exchanges on November 7.
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More
October 31, 2025, 15:42 IST
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Business
US markets today: Wall Street jumps after softer inflation update; Micron sparks AI rebound – The Times of India
US stock markets rallied on Thursday after a better-than-expected inflation update eased concerns over the interest rate outlook, while a strong earnings report from Micron Technology helped arrest the recent slide in artificial intelligence-linked stocks, AP reported.The S&P 500 rose about 1%, snapping a four-session losing streak. The Dow Jones Industrial Average climbed over 350 points, while the Nasdaq Composite gained around 1.4%, led by technology and semiconductor shares.Investor sentiment improved after data showed US inflation slowed to 2.7% last month, coming in below economists’ expectations. While inflation remains above the Federal Reserve’s 2% target, the softer reading raised hopes that the central bank could continue cutting interest rates next year to support a slowing job market.Some caution persisted with market participants noting that recent economic data have been volatile following the US government shutdown, and that upcoming inflation reports may provide a clearer signal.Technology stocks got a further boost from Micron Technology, which surged nearly 16% after posting stronger-than-expected quarterly profit and revenue and issuing an upbeat outlook. Chief executive Sanjay Mehrotra said demand linked to artificial intelligence accelerated across Micron’s businesses, reinforcing its role as a key “AI enabler”.The results helped ease worries that heavy spending on AI by major companies may not yield sufficient returns. Shares of Broadcom and Oracle, which had fallen sharply in recent sessions despite solid earnings, rebounded, while Nvidia also edged higher.Elsewhere, Trump Media & Technology Group jumped sharply after announcing an all-stock merger with nuclear technology firm TAE Technologies, marking its entry into the nuclear power space. Cintas also advanced after reporting strong earnings and announcing a share buyback programme.Global markets were mixed. European stocks posted modest gains after the Bank of England cut interest rates and the European Central Bank held policy steady, while Asian markets ended unevenly.In the bond market, US Treasury yields declined, with the 10-year yield falling to around 4.11%, reflecting optimism following the inflation data.
The Bank of England (BoE) announced on Thursday its decision to cut interest rates to 3.75 per cent, the fourth cut of the year.
For December’s vote, the bank’s nine-person Monetary Policy Committee (MPC) showed just a slight swing compared to last time out pre-Budget in November; a 5-4 split then favouring a hold became a 5-4 split in favour of cutting this time, with governor Andrew Bailey a key switcher.
Following falling inflation rates, poor economic figures and rising unemployment, it brings the base rate down to the lowest level in almost three years.
Here’s a brief rundown of what the current interest rate might mean for you:
What does the interest rate mean for mortgages?
Broadly speaking, as increasing interest rates over the last few years have meant mortgage repayments going up, then the reverse also holds true: lower rates, lower repayments. However, there are several important things to note.
Firstly, that it’s only the interest on the repayments which should change – your capital repayments will naturally decrease the more you pay off your mortgage. Secondly, the base rate isn’t the rate you are necessarily charged by your bank or lender for the mortgage – they’ll base theirs off the BoE rate but it doesn’t have to be the same.
More than half a million people do, however, have a mortgage which tracks the BoE interest rate and those will see an immediate change. Far more have fixed-term deals, which expire each year and need renegotiating – almost 2 million homes are expected to seek renewed deals in 2026.
If you’ve got a fixed term on a mortgage plan, you won’t see a change in any case until that comes to an end and you start a new one, but if you’ve already finished and moved onto a standard variable rate (SVR) deal, then you might see a change in your repayments.
New mortgage products tend to be based on swap rates – market agreements based on future expectations of interest rate movements – rather than the current bank rate, which is why there has been a recent battle between lenders dropping their rates even before the cut today.
What about savings accounts?
If you have money in a savings account, it’s the other side of the see-saw: rates going down mean you’ll earn less interest.
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As there has been a bit of a fierce battle raging among banks and building societies for customers, it’s still possible to get good deals if you are happy to lock in money for a fixed period of time or contribute regular amounts, with several offering more than 4 per cent until recently.
However, it’s likely some will be removed from the market or have their rates altered in the coming days, while many of the best deals in easy access accounts have been below 4.5 per cent for a while now.
There are always terms and conditions to be met, so ensure any accounts you open suit your circumstances, but the opportunity still remains to save and earn money at a better rate than inflation, which currently sits around 3.2 per cent.
Do be aware of the amount of interest you can earn without being taxed, though. If your savings account interest rate isn’t fixed, banks can always change the rate you get up or down.
A tax-efficient way of saving is to use a Cash ISA, where everyone (for now!) has a £20,000 personal allowance each year, which will drop to £12,000 soon with the other £8,000 reserved for tax-free investing.
Bills and repayments
Credit card repayments and other types of personal loans are of course also affected by interest rates, as the amount they all charge for borrowing could be altered.
For credit card users (and especially for Buy Now Pay Later deals), it’s always ideal to pay off the full amount each month if you are able to, to avoid interest being charged at all – depending on your circumstances and the account type, they can be one of the more costly ways to borrow.
Again, it may not be immediate that lenders alter their rates after a base rate change, but get in touch with them to assess your options if you feel your repayments could or should be lower.
Michael RaceBusiness reporter
Getty ImagesInterest rates have been cut to 3.75%, the lowest level in almost three years, but further reductions are set to be a “closer call”, the Bank of England has said.
In a knife-edge vote, policymakers voted 5-4 in favour to lower rates from 4% reflecting concerns over rising unemployment and weak economic growth.
The Bank said rates were “likely to continue on a gradual downward path”, but warned judgements on further cuts next year would more contested.
Inflation is now expected to fall “closer to 2%” – the Bank’s target – next year, which is sooner than previous forecasts. However, the economy is predicted to see zero growth in the final few months of this year.
The decision to lower borrowing costs from 4% was widely expected, after figures this week showed inflation, the rate prices rise at, slowed further to 3.2% in the year to November.
“We still think rates are on a gradual path downward but with every cut we make, how much further we go becomes a closer call,” said the Bank’s governor, Andrew Bailey.
While the cut is likely to be good news for people looking to borrow cash or secure a mortgage, savers could see a reduction on their returns.
About 500,000 homeowners have a mortgage that “tracks” the Bank of England’s rate, and Thursday’s cut is likely to mean a typical reduction of £29 in monthly repayments.
Homeowners on standard variable rates are also likely to see lower payments, although the vast majority of mortgage customers have fixed-rate deals so are not affected by the latest decision.
The Bank said that, following the tax and spending policies announced in last month’s Budget and easing oil and gas prices, inflation was likely to fall close to 2% in the spring/summer of next year. Previously it did not expect this to happen until 2027.
Chancellor Rachel Reeves announced the government would cut £150 off household energy bills in the Budget, as well as freeze fuel duty and rail fares.
However, the Bank said weaker economic growth in November had led it to expect zero growth for the final few months of this year.
It said information gathered from businesses around the country suggested a “lacklustre economy”, with firms concerned by the speculation ahead of the Budget.
The Bank said consumers remained “cautious and keenly focused on value for money”, adding that food shops were “smaller than usual”.
“Some supermarkets have been concerned that the Budget will dampen spending on Christmas food and drink, but discounters say that early sales of lowered priced seasonal food are solid so far,” it added.
Latest figures showed the price of food was the main driver behind November’s drop in inflation.
The inflation rate has fallen in recent months, but this drop does not mean that prices are falling, rather they are rising at a slower rate.
Mr Bailey reiterated that the Bank believed inflation had passed its peak.
Reacting to the Bank’s decision, the chancellor said it was the “sixth interest rate cut since the election – that’s the fastest pace of cuts in 17 years, good news for families with mortgages and businesses with loans”.
But shadow chancellor Mel Stride said while lower interest rates would be “welcome news for many families”, the cut reflected “growing concerns about the weakness of our economy”.
“The economic mismanagement of Rachel Reeves has left the Bank of England with an impossible dilemma, balancing high inflation against a fragile economy.”
EPAThe Bank, which is independent of the government, sets interest rates in an attempt to try to keep consumer price rises under control.
The theory behind increasing interest rates to tackle inflation is that by making borrowing more expensive, more people will cut back on spending and that leads to demand for goods falling and price rises easing.
But it is a balancing act, as high interest rates can harm the economy as businesses hold off from investing in production and jobs.
The government has made growing the economy its main priority as part of its efforts to boost living standards.
In its most recent Monetary Policy Report, the Bank predicted UK economic growth would be 1.5% this year, but forecast it would fall to 1.2% next year before rising to 1.6% in 2027 and 1.8% in 2028.
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