Helmet maker Studds Accessories receives SEBI approval to float IPO

Haryana-based helmet maker Studds Accessories has received approval from the capital markets regulator SEBI to float its initial public offering (IPO) for fund raising. Studds Accessories has filed preliminary papers with the SEBI for its IPO on March 26 this year. The IPO comprises of entirely an offer-for-sale of 77.86 lakh shares by existing shareholders including promoters Madhu Bhushan Khurana, Sidhartha Bhushan Khurana, and Chand Khurana. Promoters hold 78.78 percent stake in the company including Madhu Khurana (37.95 percent stake), Sidhartha Khurana (31.79 percent), and Chand Khurana (8.35 percent). The remainder 21.22 percent shares are owned by public shareholders.