Campus Activewear IPO Listing begins

The largest sports and athleisure footwear brand in India, Campus Activewear, will get listed on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). Campus Activewear IPO was booked 51.75 times when it had opened for subscription.

Investors put in bids for 174.02 crore equity shares against Campus Activewear’s offer size of 3.36 crore equity shares. The price band for Campus Activewear IPO was fixed at Rs 278-292 per share. Campus Activewear IPO opened for subscription from April 26-28. The company aimed to raise around Rs 1,400 crore through its IPO.

Campus Activewear got an overwhelming response from the qualified institutional investors. The portion set aside for them was booked 152.04 times. The non-institutional investors bid Campus Activewear shares 22.25 times during the offer.

The IPO was entirely an Offer for Sale (OFS) of up to 4,79,50,000 equity shares. 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.

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.