Athletic footwear company Campus Activewear’s three-day initial public offering (IPO) was subscribed 51.75x on the last day of membership on Thursday, aided mainly by strong interest from institutional buyers. According to NSE data, in the initial share sale, bids were received for 1,74,02,02,110 shares, while there were 3,36,25,000 shares on offer.
The share of Qualified Institutional Buyers (QIBs) was subscribed 152.04 times, while the category for non-institutional investors was 22.25 times and Retail Individual Investors (RIIs) was subscribed 7.68 times.
As per market observers, the shares of Campus Activewear have a premium (GMP) of 99 in gray market today. The shares of the company are expected to be listed on the major stock exchanges BSE and NSE on 9th May, 2022.
Finalization of Basis for Allotment of Shares of Campus Activewear IPO The next week is expected to be on Wednesday, May 4, 2022 and if allotted, the shares will be credited in the demat account of the bidders on May 6. The registrar link for this IPO is Intime India Pvt Ltd, hence the allotment application can be checked on its website Here or on BSE website Here,
IPO Totally 4,79,50,000 equity shares were offered for sale (OFS). Price cap for IPO was low 278-292 per share. On Monday, Campus Activewear Slightly Buoyed 418 crore from anchor investors. JM Financial, BofA Securities India, CLSA India and Kotak Mahindra Capital Company are the managers of the offer.
Campus Activewear introduced the ‘Campus’ brand in 2005 and offers a diverse product portfolio for the whole family. As of FY 2021, the brand has around 17% market share by value in the branded sports and athleisure footwear industry in India.