InvestorQ : How was the final subscription numbers of Campus Activewear IPO?
Riya Dwivedi made post

How was the final subscription numbers of Campus Activewear IPO?

shrinidhi Rajan answered.
11 months ago

On 28th April, the IPO of Campus Activewear closed with overall subscription of 51.75X. There was robust demand from QIB segment followed by NII segment and retail segment. The IPO closed for subscription on Thursday, 28th April 2022. At close out of the 336.25 lakh shares on offer Campus Activewear saw bids for 17,402.02 lakh shares. This translates into overall subscription of 51.75X of the issue size. The subscription was dominated by QIBs.

Let me refer to the QIB portion first. Prior to the issue opening, Campus Activewear placed 1,43,25,000 shares to 32 anchor investors at the upper end of the price band of Rs.292 per share. The total anchor allocation of Rs.418.29 crore amounted to 29.87% of the total issue size. Out of the total anchor portion, close to 39.18% was allocated to 15 mutual fund schemes spread across 8 asset management companies or AMCs.

Now for the QIB allocation in the IPO. The residual quota of 95.50 lakh shares got bids for 14,520.10 lakh shares at close resulting in 152.04X subscription. The anchor demand was robust across different classes of institutions and that was a reliable indication of the high level of conviction of the QIB investors. The overall division was QIB allocation 50%, HNI / NII allocation 15% and retail allocation of 35%.

Let me now turn to the HNI / NII portion. This segment got applications for a total of 1,593.90 lakh shares against the available HNI / NII quota of 71.63 lakh shares. This translated into an HNI portion subscription of 22.25X times. HNI / NII applications are normally bunched on the last day and the issue actually built HNI heft on 28-April. This portion is normally the funded applications and corporate applications.

Finally, let us take a look at the retail component. Out of the 167.13 lakh shares on offer for the retail portion, valid bids were received for 1,283.81 lakh shares. The retail bids included 1,037.02 lakh shares where bids were received at the cut-off price. That means, the retail portion was subscribed a relatively 7.68X. Overall, the IPO subscription for Campus Activewear was robust with most of the QIB interest and NII bids coming in on the last day.