Campus Activewear IPO: Athleisure company Campus Activewear recently closed its IPO and the issue has received a lot of response from bidders. The Campus Activewear IPO was subscribed for 51.75 on the last day of enrollment, according to data, which was largely backed by qualified institutional buyers. The Campus Activewear IPO GMP, while declining a bit, also delivers a good return on the matter. The first 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 each.
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 in the sale. The issue was oversubscribed 51.75 times and received positive response from buyers. The bumper response was supported by Qualified Institutional Buyers (QIB), who subscribed the drink reserved for them 152.04 times. Non-institutional buyers bid 22.25 times the shares reserved for them, while private buyers oversubscribe their share 7.68 times, data shows.
Campus Activewear IPO GMP
The gray market is also responding well to the Campus Activewear IPO as the public offering’s gray market premium (GMP) has been consistently above the issue price. According to IPO Watch, Campus Activewear shares are trading a premium of Rs 95 in the gray market today. According to data, Campus Activewear IPO GMP today is Rs 95, which is Rs 10 higher than yesterday. Market observers noted that Campus Activewear IPO gray market premium has risen despite negative secondary market sentiment, which is commendable. Market observers also believe that the gray market response could further improve as today is the last day of bidding.
Since Campus Activewear IPO GMP today is Rs 95, it means that the gray market expects a Campus Activewear IPO listing around Rs 387 (Rs 292 + Rs 95), about 32 percent higher than the Campus Activewear IPO price band of Rs 278 to Rs. 292 per share.
However, stock market experts suggested to investors that GMP is unofficial, unregulated. So those who follow GMP are generally advised to also go through the financial records of the company as the balance sheet of the company will give a better idea of the fundamentals of the company.
Campus Activewear IPO Listing Date and Assignment Date
The Campus Activewear IPO share allotment is likely to take place 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 credits to demates will be made on May 6.
Campus Activewear IPO listing date is likely to be May 9. The number will be listed on both BSE and NSE.
Company details
According to Religare Broking, Campus Activewear Ltd. (Campus) one of the largest sports and athleisure footwear brands in India in terms of value and volume in FY21. Campus manufactures and distributes a variety of footwear, such as running shoes, hiking shoes, casual shoes, floats, slippers, flip-flops, and sandals, at affordable prices. Campus Activewear sells its products through online platforms and offline stores. It had a market share of about 15 percent in India’s sports and athleisure footwear industry by value for FY20, rising to 17 percent in FY21. It is also the fastest growing sports and athleisure footwear brand in India from FY19 to FY21.
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