JSA acted as the Indian legal counsel on the IPO of Studds Accessories Limited advising the lead managers, IIFL Capital Services Limited and ICICI Securities Limited. The IPO comprised of an offer for sale by the promoters and certain other shareholders with a total size of Rs. 4,554.88 million. The Equity Shares of the company were listed on BSE and NSE on November 7, 2025.
Studds Accessories Limited is the largest two-wheeler helmet player in India in terms of revenue in Fiscal 2024 and also the world’s largest two-wheeler helmet player by volume in CY 2024. This is the first IPO of a motorcycle helmet and accessories manufacturer in India.
The transaction was led by Partner Madhurima Mukherjee Saha, supported by the Equity Capital Markets team comprising Partner Anuj Pethia, Senior Associate Ambuj Gupta, and Associates Shashwat Sharma, Shivani Agrawal, Prachi Jain and Zaier Ahmad.
Anuj has more than 16 years of experience and has acted on various Indian and international capital markets transactions including some of the sophisticated and pioneer offerings in the last two decades advising issuers, underwriters, promoters and selling shareholders across sectors.