Studds Accessories shares list at over 3% discount despite strong IPO demand
[hfe_template id='11223']
[ad_1]
Shares of two-wheeler accessories giant Studds Accessories made a weak debut on D-Street on Friday, listing at Rs 565 (down 3.4%) on the NSE against an issue price of Rs 585. On the BSE, the stock opened at Rs 570 (down 2.6%), despite a blockbuster IPO that saw strong demand across investor categories. The company, India’s largest helmet manufacturer, raised Rs 455 crore through a pure OFS of 77.9 lakh shares. Healthy investor response The three-day IPO, open from October 30 to November 3, was subscribed an impressive 73.3 times overall, signalling robust interest from both institutional and retail investors. QIBs drove the frenzy with 160x subscription, followed by NIIs at 77x, and retail investors at 22x. The issue drew bids for nearly 40 crore shares against 54.5 lakh shares on offer. Studds also raised Rs 136.65 crore from anchor investors on October 29, with major domestic and foreign institutions participating and locking in 23.35 l...