The initial public offering (IPO) of Sports and athleisure footwear company Campus Activewear will open on April 26 and close on April 28. The IPO will be purely an offer for sale of up to 4.79 crore shares by its existing shareholders and promoters.
The OFS comprises up to 80 lakh shares by Hari Krishna Agarwal, up to 45 lakh shares by Nikhil Aggarwal, 2.9 crore shares by TPG Growth III SF Pte Ltd, and 60.5 lakh shares by QRG Enterprises Ltd.
The company filed a draft red herring prospectus (DRHP) last year. The allotment of shares will be made on May 4, and the firm plans to list on exchanges on May 9.
Currently, the promoters hold a 78.21 percent stake in the company. TPG Growth and QRG Enterprises own 17.19 percent and 3.86 percent shareholding, respectively.
Campus Activewear introduced the brand 'Campus' in 2005 and is a lifestyle-oriented sport and athleisure footwear company that offers a diverse product portfolio. The company has a network of over 15,000 multi-brand retail stores, company-owned exclusive outlets and e-commerce portals.
While the pandemic impacted FY21, its revenues from operations were ₹711.28 crore in the previous financial year. The company has been growing at a CAGR of 25 percent in the last 10 years. The brand enjoys about 17 percent market share in the branded sports and athleisure footwear industry
BofA Securities India Limited, JM Financial, CLSA India and Kotak Mahindra Capital Company are the lead managers of the issue. This will be the first IPO under new HNI rules.
In December 2021, SEBI tightened certain IPO rules. These include new guidelines for determining quota for high net-worth individuals and a longer lock-in period for anchor investors.
In a recent report, brokerage house Nomura said that it expects IPO in India to regain momentum in the second half of the 2022-23 financial year (FY23).
“The capital markets on the secondary side which is on the block and QIPs (qualified institutional placement) have started to pick up,” the brokerage said.
Nomura expects a constructive environment, especially in the second half of the year for IPOs.
The brokerage added that India’s capital market fundraising will remain robust in the next 6 to 12 months as investors were waiting for Life Insurance Corporation to list. Most of the firms will seek domestic listings instead of going overseas.