Athletic footwear company Campus Activewear’s three-day initial public offering (IPO) was subscribed 51.75x on the last day of subscription, mainly helped by strong interest from institutional buyers.
As per market observers, the shares of Campus Activewear have a premium (GMP) of 85 in the gray market today. The shares of the company are expected to be listed on the major stock exchanges BSE and NSE on May 9, 2022.
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, according to exchange data. 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) subscribed 7.68 times.
The finalization of the share allotment basis for Campus Activewear IPO is expected this week on Wednesday, May 4, 2022 and if the allotment is made, the shares will be credited to the demat account of the bidders on May 6. The registrar for this is IPO Link Intime India Pvt Ltd, so 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). The price range for the initial share sale was 278-292 per share. Campus Activewear Got a Little Too Much 418 crore from anchor investors before its public issue. 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 entire family. As of FY 2021, the brand has around 17% market share by value in the branded sports and athleisure footwear industry in India.