Studds Accessories IPO Receives Strong Investor Interest

Studds Accessories Ltd's IPO saw robust demand, subscribed 5.08 times. Non-institutional investors subscribed 9.61 times, while retail and QIBs showed strong interest. The Rs 455 crore IPO, an offer for sale, will conclude on November 3. Shares are expected to list on November 7.

Studds Accessories Ltd's initial public offering (IPO) has garnered substantial investor interest, with the subscription reaching 5.08 times on the second day of trading.

The share sale, which offers no new shares, saw significant engagement from non-institutional investors who subscribed 9.61 times, while Retail Individual Investors (RIIs) accounted for a 6.02 times subscription rate. However, Qualified Institutional Buyers (QIBs) recorded a more modest 4% subscription.

With the IPO priced between Rs 557 and Rs 585 per share, the company is valued approximately at Rs 2,300 crore at the upper end. The sale concludes on November 3, with a listing date set for November 7.

(With inputs from agencies.)