02 May , 2022 By : Kanchan Joshi
The three-day initial public offer (IPO) of athleisure footwear company Campus Activewear was subscribed 51.75 times on the last day of subscription, mainly helped by strong interest from institutional buyers.
As per market observers, Campus Activewear shares are commanding a premium (GMP) of Rs85 in the grey market today. The company's shares are expected to list on leading stock exchanges BSE and NSE on May 9, 2022.
According to the exchanges data, the initial share sale got bids for 1,74,02,02,110 shares against 3,36,25,000 shares on offer. The portion meant for Qualified Institutional Buyers (QIBs) received 152.04 times subscription, while the category for non-institutional investors got subscribed 22.25 times and Retail Individual Investors (RIIs) chunk 7.68 times.
The finalization of basis of share allotment of Campus Activewear IPO is expected to take place this week on Wednesday, May 4, 2022 and if allotted, then the credit of shares to demat account of bidders will be done on May 6. The registrar for this IPO is Link Intime India Private Ltd, therefore the allotment application can be checked on its website here or on the BSE website here.
The IPO was entirely an Offer for Sale (OFS) of up to 4,79,50,000 equity shares. Price range for the initial share sale was at Rs278-292 per share. Campus Activewear garnered a little over Rs418 crore from anchor investors ahead of its public issue. JM Financial, BofA Securities India, CLSA India and Kotak Mahindra Capital Company are the managers to the offer.
Campus Activewear introduced the brand 'Campus' in 2005 and offers a diverse product portfolio for the entire family. As of fiscal year 2021, the brand has about 17% of market share in the branded sports and athleisure footwear industry in India by value.
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