Campus Activewear shares will be listed on the stock exchange on Monday. The company has set the IPO price at ₹292, at the high end of the price range of ₹278-292.
The IPO drew 51.75 times as the offering received bids for 174.02 billion shares compared to 3.36 billion shares on offer.
The IPO included an offer to sell up to 4.79 million shares by existing shareholders – Hari Krishan Agarwal, Nikhil Aggarwal, TPG Growth III SF, QRG Enterprises, Rajiv Goel and Rajesh Kumar Gupta. Up to 2,00,000 common shares are reserved for employees.
Gray Market Premium
Aayush Agrawal, Senior Analyst, Swastika Investmart Ltd said: “The current gray market premium is around £65, ie around 22 per cent above the upper band price and we expect similar listing gains for the issue. However, the current volatile market conditions could have an adverse effect on the listing. Nevertheless, we recommend investors to stay with the company for the long term.
anchor investors
Prior to the IPO, Campus Activewear had completed the allotment of 1.43 crore shares to anchor investors at an allotment price of Rs 292 per share totaling ₹418.29 crore.
Investors included Abu Dhabi Investment Authority, Fidelity Funds, Nomura, Societe Generale, BNP Paribas Arbitrage and Goldman Sachs (Singapore) Pte Ltd.
Business
Campus Activewear is principally engaged in the manufacture, distribution and sale of sports and athleisure footwear products. Campus Activewear is a lifestyle-oriented athletic and casual footwear company that offers a diverse product portfolio for the whole family. The company offers a wide range of styles, color palettes, price points and an attractive product value proposition.
Published on
May 09, 2022
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