28 Apr , 2022 By : Kanchan Joshi
Campus Activewear IPO (Initial Public Offering) opened for subscription on 26th April 2022 and it will remain open for subscription till 28th April 2022. Means bidding for this public issue is going to end today. After two days of bidding, Campus Activewear IPO subscription status suggests that the public offer has been subscribed 3021 times whereas its retail portion has been subscribed 3.94 times. Grey market is also giving positive response in regard to Campus Activewear IPO as grey market premium (GMP) of the public issue has been rising continuously. According to market observers, Campus Activewear shares are available at a premium of Rs105 in grey market today.
Campus Activewear IPO GMP
Market observers said that Campus Activewear IPO GMP today is Rs105, which is Rs5 higher from its yesterday's grey market of Rs100. They said that Campus Activewear IPO grey market premium has been rising despite negative sentiments in secondary market, which is praiseworthy. Market observers also believe that grey market response may further improve as today is the last day of bidding.
What this GMP mean
As Campus Activewear IPO GMP today is Rs105, it means grey market is expecting Campus Activewear IPO listing around Rs397 ( Rs292 Rs105), around 35 per cent higher from Campus Activewear IPO price band of Rs278 to Rs292 per equity share. Market observers said that rising Campus Activewear IPO GMP may boost the sentiment of those investors who are in wait and watch situation.
However, stock market experts suggested investors that GMP is an unofficial data, which is non-regulated. So, those who follow GMP are advised to go through the financials of the company as well because balance sheet of the company will give better picture about the company's fundamentals.
Campus Activewear IPO: Apply or not?
Giving 'buy' tag for long term to Campus Activewear IPO, Santosh Meena, Head of Research at Swastika Investmart Ltd said, "Campus Activewear Limited is India's largest sports and athleisure footwear brand, it enjoys competitive advantages like integrated manufacturing facilities, strong brand recognition, robust distribution network. The company has good growth prospects, good relationships with its stockists & suppliers, a focus on in-house designing, and an enviable supply chain network. However, all the positives are priced in as the share is priced at a PE of 78.5 (annualized FY 22 earnings), and being an OFS we recommend this issue for long-term investors only."
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