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The initial public offering (IPO) of the lifestyle-oriented sports and athleisure footwear company Campus Activewear opens for subscription today.and will remain open for bidding till April 28..
The IPO is entirely an offer for sale (OFS) from the promoters and existing shareholders of the company. They will offload 4,79,50,000 shares with a face value of ₹5 each, in the OFS. The company aims to raise ₹1,400.14 crore from this public issue.
The price band for the IPO has been fixed at ₹278 to ₹292 per equity share. The lot size is 51 shares. Investors can bid for a minimum of 51 equity shares and in multiples of 51 equity shares thereafter.
About 50 per cent of the offer is reserved for qualified institutional buyers, 15 per cent for non-institutional bidders and 35 per cent for retail investors.
Up to two lakh equity shares have been reserved for employees. A discount of 27 per cent is being offered to eligible employees bidding in the employee reservation portion.
The company will not receive any proceeds from the Offer for Sale.
Promoters Hari Krishna Aggarwal and Nikhil Aggarwal are together looking to offload up to 80 lakh and 45 lakh equity shares, respectively through this OFS. Marquee Investors TPG Growth III SF Pte Ltd and QRG Enterprises Limited will also be selling part of their holdings through this OFS.
Allotment of IPO shares will be finalised on May 4. The initiation of refunds will begin from May 5 while shares will be credited into demat accounts on May 6. The IPO listing will take place likely by May 9.
Prior to the IPO, under the portion for Anchor Investors (AIs) in the Public Issue of Campus Activewear Limited, 1,43,25,000 equity shares have been subscribed today at ₹292 per equity share.
The book running lead managers for the offer are JM Financial Limited, BofA Securities India Limited, CLSA India Private Limited and Kotak Mahindra Capital Company Limited.
The company’s products are under ‘Campus’ brand, which enjoys about 15 per cent market share in the branded sports and athleisure footwear industry in India by value for fiscal 2020.
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