IPO Update: Campus Activewear IPO opens on April 26; Key Details

The Initial Public Offering (IPO) of Campus Activewear, a sports and athleisure footwear firm, will take place on Tuesday, April 26, 2022. The offer will be open for subscription until Thursday, April 28, 2022, with a price range of Rs.278-292 per share.

The Delhi-based footwear company’s public offering is primarily an offer for sale (OFS) of 4.79 crore (4,79,50,000) equity shares by promoters and current shareholders.

Promoters Hari Krishan Agarwal and Nikhil Aggarwal, as well as other investors TPG Growth III SF Pte Ltd, QRG Enterprises Ltd, Rajiv Goel, and Rajesh Kumar Gupta, are selling shares in the OFS.

Hari Krishna Agarwal may hold up to 8 million shares, Nikhil Aggarwal may hold up to 4.5 million shares, TPG Growth III SF Pte Ltd may hold up to 29.1 million shares, and QRG Enterprises Ltd may hold up to 6.05 million shares in the OFS.

Promoters now own 78.21% of the company, while TPG Growth and QRG Enterprises own 17.19% and 3.86 percent, respectively.

According to the information presented in the red herring prospectus, the bidding for anchor investors will begin on Monday, April 25, 2022, before the IPO (RHP).

According to the RHP, the share allotment is planned to take place on Wednesday, May 4, 2022, and the shares are expected to be listed on Monday, May 9, 2022.

According to RHP data, the promoters control nearly 23.8 crore (23,80,09,004) equity shares, representing a 78.21% stake in the footwear company, while TPG Growth and QRG Enterprises have 17.19% and 3.86% stakes, respectively.

Individual stockholders and present workers own the remaining 0.74 percent of the company.

Campus Activewear will join Bata India, Relaxo Footwears, Khadim India, Liberty Shoes, Metro Brands, and Mirza International as listed footwear peers.

According to Campus Activewear’s RHP, a significant increase in India’s working-age population from 36% in FY 2000 to 50% in FY 2019 is predicted to maintain the Indian economy’s growth momentum and lead to rising income levels in the long run.

“Given their exposure to media and technology, the younger part of the population is inherently predisposed to embracing new trends, which creates an opportunity for branded products and organised retail,” it said.