Lifestyle-oriented sports and athleisure footwear company Campus Activewear made a strong debut on the bourses on Monday, listing at over 20 per cent premium over its issue price of ₹292.

Campus Activewear is listed at ₹355 on the BSE, a 21.58 per cent premium over its issue price of ₹292. Post listing, it climbed to a high of ₹417.70. It recorded an intraday low of ₹336.80. It closed at ₹378.60, up ₹86.60 or 29.66 per cent over the IPO price.

On the NSE, it is listed at ₹360, up ₹68.00 or 23.29 per cent over the issue price. It closed at ₹372.65, up ₹80.65 or 27.62 per cent. 

Santosh Meena, Head of Research, Swastika Investmart Ltd said, “The company’s good listing during such a volatile market highlights the inherent strength of the company’s business and fundamentals. “

“Campus Activewear Ltd is India’s largest sports and athleisure footwear brand that enjoys competitive advantages like integrated manufacturing facilities, strong brand recognition, and a robust distribution network. The company has a huge runway of growth and the long-term prospects are good,” added Meena.

Campus Activewear is primarily engaged in the manufacture, distribution and sale of sports and athleisure footwear products. 

The company had fixed the IPO price as ₹292, at the upper-end of the price band of ₹278-292.

The IPO was subscribed 51.75 times, as the offer received bids for 174.02 crore shares as against 3.36 crore shares on offer.

The IPO comprised an offer for sale of up to 4.79 crore 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 equity shares have been reserved for employees

Ahead of the IPO, Campus Activewear had finalised allocation of 1.43 crore shares to anchor investors at an allocation price of Rs 292 a share, aggregating to ₹418.29 crore.

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