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Studds Accessories is the first company in the helmet manufacturing industry to received market regulator SEBI’s approval to float an initial share sale. So, it will definitely have a first-mover advantage. Studds Accessories Ltd (the Company) had filed a draft red herring prospectus dated August 24, 2018 (DRHP) with the Securities and Exchange Board of India (SEBI) for its IPO. The company received final observations from SEBI in December 2018. Studds Accessories' IPO comprises fresh issuance of shares worth ₹ 98 crores besides an offer for sale of 39 lakh equity shares by promoters Madhu Bhushan Khurana and Siddhartha Bhushan Khurana, and other existing shareholders, according to the draft papers. The company believes that listing the equity shares will also enhance its visibility and brand image among existing and potential customers. Studds have an attractive valuation with P/E ratio of around 40.