New Delhi, Oct 27 (PTI) Helmets manufacturer Studds Accessories Ltd is targeting to raise Rs 455 crore through its initial public offering (IPO), which is scheduled to open on October 30.

The company has set a price band of Rs 557 to Rs 585 per share, valuing it at around Rs 2,300 crore at the upper end of the range.

The issue will close on November 3, while the anchor book will open for a day on October 29, the company said in a public announcement.

The IPO will comprise only an offer-for-sale (OFS), with the promoter group and other shareholders offloading 77.86 lakh shares.

Since the issue is entirely an OFS, Studds will not receive any proceeds, and all funds will go to the selling shareholders.

Founded in 1975, Studds designs, manufactures, markets, and sells two-wheeler helmets

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