Campus Activewear IPO: The initial public offering of athleisure brand Campus Activewear Limited saw a good response of bidders as the issue recently closed this week. The Campus Activewear IPO received bids of 1,74,02,02,110 shares against 3,36,25,000 shares on sale. This was an oversubscription of 51.75 times, according to official NSE data. The issue was a complete offer for sale (OFS) of 4.79 crore shares by promoters and shareholders of the company. Campus Activewear shares have been sold for Rs 278-292 per piece.
The good response to Campus Activewear IPO was backed by Qualified Institutional Buyers (QIB), who subscribed 152.04 times the potion reserved for them. Non institutional buyers bid for 22.25 times the shares reserved for them, while retail buyers oversubscribed their portion by 7.68 times, as per data.
Campus Activewear IPO GMP Today
According to Market Analysts, the Campus Activewear shares are giving a premium of Rs 105 in the gray market today. Campus Activewear IPO GMP is currently Rs 105, Rs 10 higher than yesterday. Analysts have said that Campus Activewear IPO gray market premium has been on the rise despite negative sentiments in the secondary market, which is praiseworthy.
As Campus Activewear IPO GMP today is Rs 105, it means the gray market is expecting Campus Activewear IPO listing around Rs 397 ( Rs 292 + Rs 105), around 35 per cent higher from Campus Activewear IPO price band of Rs 278 to Rs 292 per equity share.
Campus Activewear IPO: What Analysts Say About Listing Gains
Analysts are saying that Campus Activewear IPO listing gains to return a premium of about 30 to 40 per cent. Brokerage houses are advising investors to hold the shares of Campus Activewear for long term horizon.
“The issue was subscribed 52 times approx mostly fueled by institutional investors. As per the data the GMP is approx Rs 95. We can expect the share to list around at a premium of 30-40 per cent or the price is about Rs 370-384. Campus Activewear brand has about 17 per cent of the market share in the branded sports and athleisure footwear industry in India by value,” said Manoj Dalmia, founder and director of Proficient Equities Limited.
“Investors can hold for a long term horizon going by the brand name. If one wants to book profits they can book safely on the listing by booking 75 per cent of the quantity and holding the rest to avoid missing any rally,” he added.
Campus Activewear IPO: Company Details
Campus Activewear (Campus) is one of the fastest growing sports and athleisure footwear brands in India, which covers 85 per cent of its total addressable market. Campus has a 17 per cent market share in branded sports and athleisure footwear in India and is the largest player in terms of volume (13.6 million pairs)
The company registered a healthy revenue CAGR of 20 per cent in FY18-20 with average EBITDA margins of 18 per cent. Capital efficient business model translates into average RoCE of 21 per cent. The Campus Activewear IPO is expected to list on NSE and BSE on May 9.
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