Shares of Campus Activewear Ltd slumped over 8% in early trade on Friday after 8.1% equity of the company changed hands in a large block deal.
Reports earlier said that TPG Global would sell its complete 7.6% stake in the company through a block deal today.
According to reports, the American alternative asset management company was to sell 2,32,07,692 shares of the company, with a floor price of ₹345 per share.
TPG Growth, the growth equity platform of TPG Global, and QRG, the family office of the promoters of Havells Group, acquired a 20% stake in the firm in September 2017. Then, the company was valued at ₹1,500 crore.
The stock has fallen 46.67% from its 52-week high of ₹639.3 recorded on October 19, 2022. The stock price fell 2.1% and underperformed its sector by 2.1% in the past week.
The shares of the company are trading at high volume of 29.6 million with price loss of 7.93%.
As on today, the stock is up 17.1% from its IPO price.
According to a MintGenie poll, 5 analysts on an average recommend 'buy' rating for the stock.
Also Read: Knowing the difference: Bulk deals and block deals