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Tuesday, May 17, 2022

Campus Activewear makes a strong debut, lists at over 23% premium over issue price

Campus Activewear shares listing: The scrip of athleisure footwear company Campus Activewear got listed at Rs 360.00 apiece on the NSE, thereby registering a gain of 23.29 per cent from its offer price of Rs 292.00.

By: Express Web Desk | New Delhi |
Updated: May 9, 2022 12:26:31 pm
campus ipo, campus activewear ipoOn listing, Campus Activewear will join other listed footwear peers such as Bata India, Relaxo Footwears, Khadim India, Liberty Shoes, Metro Brands and Mirza International. (Image: Facebook/Campus Shoes)

Campus Activewear share price: Shares of athleisure footwear company Campus Activewear debuted on a strong note and got listed at a premium of over 23 per cent from their issue price in the stock exchanges today.

The scrip got listed at Rs 360.00 apiece on the National Stock Exchange (NSE), thereby registering a gain of 23.29 per cent from its offer price of Rs 292.00, while on the BSE, it opened at Rs 355.00, up 21.58 per cent from the issue price.

The stock further inched higher from its opening levels and touched a high of Rs 373.70 on the BSE and Rs 372.60 on the NSE during the first hour of trade.

At 11:05 am, the scrip was trading at Rs 373.05 on the BSE, up 27.76 per cent from the issue price while on NSE it was at Rs 372.50, up 27.57 per cent. The market capitalisation stood at Rs 11,337.67 crore, data from the BSE showed.

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Over 3.16 crore shares of Campus Activewear were traded so far on NSE while around 17.20 lakh shares have exchanged hands on the BSE, data from the respective stock exchange showed.

Campus Activewear is a Delhi-based footwear firm that introduced the brand ‘Campus’ in 2005. It offers a diverse product portfolio for the entire family.

The IPO was met with a robust demand during its offer period from April 26-28, 2021. It got subscribed 51.75 times on the final day.

Reacting to the listing, Santosh Meena, Head of Research at Swastika Investmart said, “The company’s good listing during such a volatile market highlights the inherent strength of the company’s business and fundamentals. Campus Activewear Limited is India’s largest sports and athleisure footwear brand that enjoys competitive advantages like integrated manufacturing facilities, strong brand recognition, and a robust distribution network. The company has a huge runway of growth and the long-term prospects are good. Those who applied for listing gains can maintain a stop loss of Rs 300. We recommend this stock for the long term to both existing and new investors.”

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