New Delhi: Campus Activewear Limited, whose initial public offering (IPO) of Rs 1,400 crore opens for subscription on April 26, has set a price range for the issue of Rs 278-292 per share. The offering is solely an offer to sell by promoters and existing shareholders of the Company. They will swap 4,79,50,000 shares with a par value of Rs 5 each in OFS.
Hari Krishna Agarwal and Nikhil Aggarwal, founders of the company, will sell approximately 12.5 million shares in OFS, while TPG Growth III SF Pte Ltd will sell up to 29.1 million shares and QRG Enterprises will sell up to 6.05 million shares.
The initial offering of India’s largest sports and casual footwear brand will close on April 28, while the IPO is expected to close on May 9. The Company will not receive any proceeds from the offering.
Headquartered in Delhi, Campus Activewear manufactures and sells a variety of footwear such as running shoes, hiking shoes, casual shoes, floaters, slippers, flip flops and sandals in multiple colors and styles at affordable prices.
Campus Activewear sells its products through online platforms and offline shops. It has an all-India trade distribution network with over 400 dealers in 28 states and 625 cities. The company also has 18,200 retailers across India.
50 percent of the issue is reserved for qualified institutional investors, another 15 percent for non-institutional bidders and the remaining 35 percent for private investors. 2 lakh shares have been reserved for eligible employees.
BofA Securities India, JM Financial, CLSA India and Kotak Mahindra Capital Company are the lead managers of the offering, while Link Intime India Private has been appointed as registrar for the offering.
This will be the first IPO under the new rules. In December 2021, the Securities and Exchange Board of India (Sebi) tightened certain IPO rules, including new guidelines for determining the HNI ratio and a longer lock-up period for anchor investors.
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