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Campus Activewear IPO: The initial public offering (IPO) of sports and athleisure footwear company Campus Activewear will open on Tuesday, April 26, 2022. The offer comes with a price band of Rs 278-292 per share and will be available for subscription till Thursday, April 28, 2022.
The public issue by the Delhi-based footwear maker is purely an offer for sale (OFS) of 4.79 crore (4,79,50,000) equity shares by promoters and existing shareholders.
Those selling shares in the OFS include promoters Hari Krishan Agarwal and Nikhil Aggarwal and other investors – TPG Growth III SF Pte Ltd, QRG Enterprises Ltd, Rajiv Goel and Rajesh Kumar Gupta.
JM Financial, BofA Securities India, CLSA India and Kotak Mahindra Capital Company are the book running lead managers to the offer while Link Intime India is the registrar of the issue.
Before heading into the IPO, the bidding for anchor investors will open on Monday, April 25, 2022, as per the information provided in the red herring prospectus (RHP).
The share allotment is likely to take place on Wednesday, May 4, 2022, and the shares are expected to be listed on Monday, May 9, 2022, according to the timeline given in the RHP.
Currently, the promoters own over 23.8 crore (23,80,09,004) equity shares which represents a 78.21 per cent stake of the footwear company while TPG Growth and QRG Enterprises have 17.19 per cent and 3.86 per cent stake respectively, the RHP data showed.
The remaining 0.74 per cent stake is held by individual shareholders and current employees.
On listing, Campus Activewear will join other listed footwear peers such as Bata India, Relaxo Footwears, Khadim India, Liberty Shoes, Metro Brands and Mirza International.
Campus Activewear in its RHP said that a substantial rise in India’s working age population from 36 per cent in FY 2000 to 50 per cent in FY 2019 is expected to continue sustaining the growth momentum of the Indian economy and lead to rising income levels in the long-term.
“The younger segment of the population is naturally pre-disposed to adopting new trends given their exposure to media and technology, which presents an opportunity for branded products and organized retail,” it noted.
