Athleisure footwear company Campus Activewear has fixed a price band of ₹278-292 a share for its ₹1,400-crore initial public offering (IPO). The three-day initial share-sale will open for public subscription next week from Tuesday, April 26 and the bidding for anchor investors will open on April 25.
As per market observers, Campus Activewear shares are available at a premium (GMP) of ₹60 in the grey market today. The equity shares of the company are expected to list on leading stock exchanges BSE and NSE on May 09, 2022.
The IPO is entirely an offer for sale (OFS) of 4,79,50,000 equity shares by promoters and existing shareholders. Those offering shares in the OFS include promoters, Hari Krishna Agarwal and Nikhil Aggarwal, and existing shareholders, TPG Growth III SF Pte Ltd, QRG Enterprises Ltd, Rajiv Goel and Rajesh Kumar Gupta. At the upper end of the price band, the initial share sale is expected to fetch ₹1,400 crore.
Campus Activewear introduced the brand ‘Campus’ in 2005 and offers a diverse product portfolio for the entire family. As of fiscal year 2021, the brand has about 17% of market share in the branded sports and athleisure footwear industry in India by value. At present, promoters hold 78.21% stake in the company while TPG Growth and QRG Enterprises own 17.19% and 3.86% shareholding, respectively.
BofA Securities India, JM Financial, CLSA India and Kotak Mahindra Capital Company are the merchant bankers that advise the company on the public issue. Half of the issue size has been reserved for qualified institutional buyers (QIBs), 35% for retail investors and the remaining 15% for non-institutional investors. Further, 2 lakh shares have been reserved for the company’s employees.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsBit.us is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
