Campus Activewear IPO ends with robust subscription
Published on Apr 29, 2022 09:55
The initial public offer (IPO) of Campus Activewear received bids for 1,74,02,02,110 shares as against 3,36,25,000 shares on offer. The issue was subscribed 51.75 times.
The qualified institutional buyers (QIBs) category was subscribed 152.04 times. The non institutional investors category was subscribed 22.25 times. The retail investors category was subscribed 7.68 times. The employees category was subscribed 2.11 times.
The issue opened for bidding on Tuesday (26 April 2022) and it closed on Thursday (28 April 2022). The price band of the IPO was fixed at Rs 278 - 292 per share.
The IPO comprised an offer for sale of upto 4,79,50,000 equity shares by existing shareholders - Hari Krishan Agarwal, Nikhil Aggarwal, TPG Growth III SF, QRG Enterprises, Rajiv Goel and Rajesh Kumar Gupta. Upto 2,00,000 equity shares are reserved for employees.
The company will not directly receive any proceeds from the offer, and all the offer proceeds will be received by the selling shareholders, in proportion to the offered shares sold by them.
The promoters of the company are Hari Krishan Agarwal and Nikhil Aggarwal. The promoters and promoter group holds an aggregate of 23,80,09,004 equity shares, aggregating to 78.21% of the pre-offer issued and paid-up equity share capital. The post IPO shareholding for the same is expected to be around 74.10%.
Ahead of the IPO, Campus Activewear on Monday, 25 April 2022, finalized allocation of 1,43,25,000 equity shares to anchor investors at an allocation price of Rs 292 per share, aggregating to Rs 418,29,00,000.
Campus Activewear is the largest sports and athleisure footwear brand in India in terms of value and volume in FY2021. The company is primarily engaged in the manufacturing, distribution and sales of sports and athleisure footwear products. Campus Activewear is a lifestyle-oriented sports and athleisure footwear company that offers a diverse product portfolio for the entire family. The company offers multiple choices across styles, color palettes, price points and an attractive product value proposition.
The company has an approximately 15% market share in the branded sports and athleisure footwear industry in India by value for FY2020, which increased to approximately 17% in FY2021. It is one of the very few established Indian brands in a segment which is primarily dominated by international brands.
Campus Activewear reported a net profit of Rs 85.58 crore and net sales of Rs 841.84 crore in the nine months ended on 31 December 2021.
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