Campus Activewear IPO: Athleisure company Campus Activewear has recently closed its initial public offering and the issue has received a great response from bidders. The Campus Activewear IPO was subscribed 51.75 as of the last day of subscription, as per data, which was backed mostly by qualified institutional buyers. The Campus Activewear IPO GMP, though falling a bit, is also giving good returns against the issue. The initial share sale was a complete offer for sale (OFS) of 4.79 crore shares by promoters and shareholders of the company. Campus Activewear shares have been sold for Rs 278-292 per piece.
Campus Activewear IPO Subscription
According to data from the National Stock Exchange, Campus Activewear IPO received bids of 1,74,02,02,110 shares against 3,36,25,000 shares on sale. The issue was oversubscribed 51.75 times, and received good response from buyers. The bumper response was backed by Qualified Institutional Buyers (QIB), who subscribed 152.04 times the potion reserved for them. Non institutional buyers bid for 22.25 times the shares reserved for them, while retail buyers oversubscribed their portion by 7.68 times, as per data.
Campus Activewear IPO GMP
The grey market is also giving a good response in regard to Campus Activewear IPO as grey market premium (GMP) of the public issue has been over the issue price continuously. According to IPO watch, Campus Activewear shares are giving a premium of Rs 95 in the grey market today. As per data, Campus Activewear IPO GMP today is Rs 95, which is Rs 10 higher than that of yesterday. Market observers noted that Campus Activewear IPO grey market premium has been on the rise despite negative sentiments in the secondary market, which is praiseworthy. Market observers also believe that grey market response may further improve as today is the last day of bidding.
As Campus Activewear IPO GMP today is Rs 95, it means the grey market is expecting Campus Activewear IPO listing around Rs 387 ( Rs 292 + Rs 95), around 32 per cent higher from Campus Activewear IPO price band of Rs 278 to Rs 292 per equity share.
However, stock market experts suggested investors that GMP is an unofficial data, which is non-regulated. So, those who follow GMP are generally advised to go through the financials of the company as well because balance sheet of the company will give better picture about the company’s fundamentals.
Campus Activewear IPO Listing Date and Allotment Date
The share allotment of Campus Activewear IPO is likely to be done on May 4, which is next Wednesday, according to IPO Watch. The refunds for those who miss the bid will be credited to their accounts on May 5, while credit to demat accounts will be done on May 6.
Campus Activewear IPO listing date is likely on May 9. The issue will list on both BSE and NSE.
Company Details
As per Religare Broking, Campus Activewear Ltd. (Campus) is one of the largest sports and athleisure footwear brand in India in terms of value and volume in FY21. Campus manufactures and distributes a variety of footwear like running shoes, walking shoes, casual shoes, floaters, slippers, flip flops and sandals, at affordable prices. Campus Activewear sells its products through online platforms and offline stores. It had an approximately 15 per cent market share in the branded sports and athleisure footwear industry in India by value for FY20, which increased to 17 per cent in FY21. It is also the fastest-growing scaled sports and athleisure footwear brand in India over FY19 to FY21.
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