Upcoming IPO in India: Campus Shoes’ IPO (initial public offering) could hit primary markets next month. According to market sources, the athletic and casual footwear company plans to go public in May 2022. Campus Shoes submitted the DRHP (Draft Red Herring Prospectus) last year. In its DRHP, the footwear company had proposed an Offer for Sale (OFS) of 5.10 billion shares from promoters and existing shareholders as part of this public offering.
Campus Shoes promoters offering shares in this OFS include Hari Krishna Agarwal and Nikhil Aggarwal. Shares offered in OFS include investors such as TPG Growth III SF Pte Ltd and QRG Enterprises Ltda.
Currently, Campus Shoes’ promoters own a 78.21 percent stake in the company, with TPG Growth and QRG Enterprises owning 17.19 percent and 3.86 percent, respectively. The remaining 0.74 percent of the shares are held by individual shareholders and current employees of the company.
The Delhi-based athletic and casual footwear company is considering expanding its distribution network and deepening its presence in western and southern India. In addition, Campus Shoes, which is backed by the equity fund TPG Growth and QRG Enterprises, plans to expand its offering in the high-margin women’s and children’s portfolio.
Announcement of distribution network expansion plan; Raman Chawla, CFO of Campus Activewear said, “Campus will continue to expand the D2C channel to drive premiumization and growth in other consumer segments such as women and children. We expect these initiatives to significantly increase our network coverage across India,” Chawla informed Chawla that the company plans to hire additional employees to complement the expansion of its distribution network.
Speaking about e-commerce, he said that 20 percent of his business now comes from new-age digital distribution channels. “It’s gone up €20 crore to €400 crore in the last three years,” added Chawla.
As part of its strategy, the company is focused on the domestic market and believes it has room to grow. Citing a Technopak report, Chawla said the market for athletic and athleisure footwear is there €9,000 crore shifting towards branded players.
Campus Activewear claims a 17 percent market share in the branded athletic and casual footwear industry in India by FY21 value.
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