Campus Activewear Ltd., a sports footwear brand, continued to witness healthy bidding for its shares on the second day of its initial public offering.
The offer was fully subscribed on day one, led by demand from retail investors. Non-institutional investors joined the bidding on day two.
The IPO—a pure offer for sale—seeks to raise Rs 1,400.1 crore at the upper end of the price band of Rs 278-292 apiece. The issue values Campus Activewear at Rs 8,886.3 crore.
The IPO comprises sale of 4.79 crore shares by private equity firm TPG and other promoters. The proceeds from the sale won't come to the company but its stakeholders.
The three-day offer is the sixth in the year so far.
Subscription Details: Day 2
The IPO subscribed 3.21 times as of 5 p.m. on April 27.
Institutional investors: 0.13 times.
Non-institutional investors: 5.67 times.
Retail investors: 3.94 times.
Employees: 1.42 times.
Top Research Reports On Campus Activewear IPO
Key Player In Fastest Growing Sports Shoes Category: ICICI Direct
Strong Business Model, But Valuation Is Stretched: Reliance Securities
Investment Rationale, Strategy, Financials, Key Risks: Anand Rathi
Investment Rationale, Future Growth Strategies, Valuations, Risks: KRChoksey
Well-Placed To Capture Highly Underpenetrated Footwear Segment In India: Motilal Oswal
Watch BloombergQuint's IPO Adda With Campus Activewear's Management:
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