Athleisure footwear firm Campus Activewear has mounted a value band of ₹278-292 a share for its ₹1,400-crore preliminary public providing (IPO). The three-day preliminary share-sale will open for public subscription subsequent week from Tuesday, April 26 and the bidding for anchor traders will open on April 25.
As per market observers, Campus Activewear shares can be found at a premium (GMP) of ₹60 within the gray market at the moment. The fairness shares of the corporate are anticipated to listing on main inventory exchanges BSE and NSE on Could 09, 2022.
The IPO is totally a suggestion on the market (OFS) of 4,79,50,000 fairness shares by promoters and current shareholders. These providing shares within the OFS embody promoters, Hari Krishna Agarwal and Nikhil Aggarwal, and current shareholders, TPG Progress III SF Pte Ltd, QRG Enterprises Ltd, Rajiv Goel and Rajesh Kumar Gupta. On the higher finish of the worth band, the preliminary share sale is predicted to fetch ₹1,400 crore.
Campus Activewear launched the model ‘Campus’ in 2005 and affords a various product portfolio for your complete household. As of fiscal 12 months 2021, the model has about 17% of market share within the branded sports activities and athleisure footwear trade in India by worth. At current, promoters maintain 78.21% stake within the firm whereas TPG Progress and QRG Enterprises personal 17.19% and three.86% shareholding, respectively.
BofA Securities India, JM Monetary, CLSA India and Kotak Mahindra Capital Firm are the service provider bankers that advise the corporate on the general public concern. Half of the problem dimension has been reserved for certified institutional patrons (QIBs), 35% for retail traders and the remaining 15% for non-institutional traders. Additional, 2 lakh shares have been reserved for the corporate’s workers.
Supply: Live Mint