Trilegal and JSA advised on Studds Accessories Limited’s INR 4,554 million IPO. 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.
Trilegal acted as the legal counsel to Studds Accessories, 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 Calendar Year 2024, and the selling shareholders on its initial public offering aggregating to INR 4,554 million. This marks the first-ever IPO by a two-wheeler helmet consumer brand in India. The IPO was oversubscribed by 73.25 times.
The Capital Markets team advising on the matter was led by Partner Abhinav Maker and comprised Counsel Ajo Jomy, and Associates Debarpita Pande, Mrinal Kumar, Ipsita Pallavi Sahoo, and K Prashant Agrawal.
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.
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.
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