Shares of Campus Activewear will be listed on the exchanges on Monday. The company has fixed the IPO price as ₹292, at the upper-end of the price band ₹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 upto 4.79 crore shares by existing shareholders - Hari Krishan Agarwal, Nikhil Aggarwal, TPG Growth III SF, QRG Enterprises, Rajiv Goel and Rajesh Kumar Gupta. Upto 2,00,000 equity shares are reserved for employees..

Grey market premium

Aayush Agrawal, Senior Analyst, Swastika Investmart Ltd, said: “The current grey market premium is about ₹65 i.e. about 22 per cent above its upper band price, and we expect similar listing gains for the issue. However, current volatile market conditions might be detrimental for its listing. Nevertheless, we recommend investors to stay with the company for the long term.

Anchor investors

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.

Among the investors incluced Abu Dhabi Investment Authority, Fidelity Funds, Nomura, Societe Generale, BNP Paribas Arbitrage and Goldman Sachs (Singapore) Pte Ltd.

Business

Campus Activewear is primarily engaged in the manufacturing, distribution and sales of sports and athleisure footwear products. Campus Activewear is a lifestyle-oriented sports and athleisure footwear company that offers a diverse product portfolio for the entire family. The company offers multiple choices across styles, color palettes, price points and an attractive product value proposition.

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