What are the key details of the Campus Activewear IPO opening on 26th April?
Answer
Answer
Apart from Rainbow Medical, the other important IPO opening the next week is that of Campus Activewear, a manufacturer of athletic and leisure footwear catering to the mid-segment and young crowds in India. Here is what you need to know about the IPO of Campus Activewear.
· The IPO of Campus Activewear opens on 26th April and closes on 28th April. Key dates to know are basis of allotment finalization (04-May), refunds initiated (05-May), shares credit to demat accounts (06-May) and listing on stock exchanges (09-May). The price band of the IPO has been set at Rs.278 to Rs.292. The market lot for the IPO will be of 51 shares and retail investors can invest up to 13 lots of 663 shares worth Rs.193,596 crore.
· The entire IPO will be an offer for sale (OFS). It entails the offer for sale of 4.795 crore equity shares worth Rs.1,400.14 crore at the upper price band of Rs.292. Promoters Hari Krishan Agarwal and Nikhil Aggarwal will offer 1.25 crore shares in total. PE investors, TPG Growth III, will offer 2.91 crore shares and QRG Enterprises 60.5 lakh shares.
· There will be an employee reservation up to 2 lakh shares and they will be entitled to a discount of Rs.27 per share on the final offer price. The balance will be the public offer which will be allocated as 50% for QIBs, 15% for NII/HNIs and 35% for retail.
· Campus Activewear is the largest sports and athletic leisure footwear brand in India with a network of 18,200 retailers all-India. It has 17% share of the branded sports and athleisure footwear market in India, and growing consistently.
· For the 9 months to Dec-21, Campus Activewear profits grew 5-fold to Rs.84.80 crore. Revenues were up 93% at Rs.842 crore, while EBITDA margins expanded by 718 bps to 19.63%. The company has recovered from the COVID-19 bottlenecks.
· The book running lead manages (BRLMs) will be JM Financial, BOFA Securities, CLSA India and Kotak Mahindra Capital. Link Intime India will act as the registrars to the IPO.