Studds Accessories, a two-wheeler helmet player in India, filed its draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India (Sebi). The company plans to raise funds through the offer of equity share capital via an initial public offering (IPO). The public offer comprises ‘offer for sale’ of up to 7,786,120 equity shares with face value Rs 5 each share. As per DRHP, the promoter shareholders participating in the sale include Sidhartha Bhushan Khurana and Chand Khurana. Shares of the company are proposed to be listed on BSE and NSE. The objective of the offer is to achieve the benefits of listing equity shares on the stock exchanges and carrying out the OFS of up to 7,786,120 equity shares of face value. The selling shareholders will be entitled to the entire proceeds of the offer after deducting their respective portion of the offer expenses and relevant taxes thereon. The company will not receive any proceeds from the offer. Studds Accessories designs, manufactures, markets, and sells two-wheeler helmets under the Studds and SMK brands and other accessories (such as two-wheeler luggage, gloves, helmet locking devices, rain suits, riding jackets, and eyewear) under the Studds brand. The company’s products are sold pan-India and in more than 70 countries internationally, with its key export markets situated across the Americas, Asia (excluding India), Europe, and the rest of the world. Studds also manufacture helmets for Jay Squared LLC, which are sold under the “Daytona” brand in the United States of America, as well as for O’Neal under their branding, supplying to markets in Europe, United States of America, and Australia. IIFL Capital Services Limited and ICICI Securities Limited are the Book Running Lead Managers (BRLMs) to the issue. Earlier, the company had filed draft papers nearly seven years ago. At that time, the company aimed to garner Rs 98 crore via a primary share issuance in 2018. In addition to this, there was a component for an OFS of up to 3,939,000 equity shares.