Campus Activewear is all set to start its journey on the Dalal Street on May 9. The largest sports and athleisure footwear brand in India will get listed on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) at 10 am on Monday. The Rs 1,400-crore public issue received a stellar response from the investors even during a volatile market. Campus Activewear IPO was booked 51.75 times when it had opened for subscription. Investors put in bids for 174.02 crore equity shares against Campus Activewear’s offer size of 3.36 crore equity shares.
Campus Activewear initial public offering (IPO) opened for subscription frm April 26-28. The price band for Campus Activewear IPO was fixed at Rs 278-292 per share. At the upper end of the price band, the company aimed to raise around Rs 1,400 crore through its public offer. The IPO is entirely an offer for sale by investors and promoters, hence the company will not receive any money from the offer for sale issue. Anchor investors garnered Rs 418.3 crore ahead of the opening of Campus Activewear IPO.
Campus Activewear IPO GMP
Campus Activewear share dropped to Rs 60 in the gray market during the weekend. Earlier, the Campus Activewear share traded at Rs 95 on May, according to the data shared by IPO Watch. The sell-off in the secondary market pushed the gray market premium of Campus Activewear down over the last couple of days.
Campus Activewear IPO Subscription Status
Campus Activewear fetched overwhelming response from the qualified institutional investors. The portion set aside for them was booked 152.04 times. The non-institutional investors bid Campus Activewear shares 22.25 times during the offer. Retail investors’ quota was subscribed 7.68 times while the employees portion was booked 2.11 times.
Campus Activewear IPO: How Much Listing Gains to Expect?
“We can see a decent premium listing gain around 15-18 per cent in Campus debut despite high volatility in market sentiments as the brand enjoys a virtual monopoly in the sports and athleisure footwear segment backed by bright prospects ahead with rising market share. The offer was also well respected by all kinds of investors category which gives a support for better listing prospects,” said Prashanth Tapse, research analyst & VP research – Mehta Equities.
Considering decent response from the investors and strong premium in the unofficial market, experts predict a strong listing gains for Campus Activewear IPO. “Footwear brand Campus Activewear, received a good response from investors during its subscription period. The company is a monopoly in branded sports and athleisure footwear in India. During the pandemic too it maintained its operations at the gross levels and now is poised for a good expansion. The issue can be considered for both listing gains and long term holdings. As per offer documents, it has shown Bata India and Relaxo as its listed peers which are at a PE of 366.72 and 101.65 and campus activewear at P/E of 78.49,” said Manoj Dalmia, founder and director, Proficient Equities Private Limited.
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