Last day to subscribe to Campus Activewear IPO; GMP at ₹105

• Footwear brand Campus Activewear is looking to raise ₹1,400 crore by selling 4.79 crore shares by promoters and shareholders of the company.
• The IPO has been subscribed 2.06 times in the first two days of the subscription process.
• Shares of the company are commanding a premium of ₹105 in the grey market.

Today, April 28, is the last day to subscribe to Footwear brand Campus Activewear that is looking to raise ₹1,400 crore through the initial public offering (IPO).

So far in the first two days of the subscription process, the IPO received great response from investors as it was oversubscribed by 2.06 times as of 12:59 p.m., on Wednesday.

The IPO is a complete offer for sale (OFS) of 4.79 crore shares by promoters and shareholders of the company.

Currently, shares of the company are commanding a premium of ₹105 in the grey market.

Started in 2005, Campus Activewear claims to be India's largest sports and athleisure footwear brand. It manufactures a variety of footwear at affordable prices. Campus Activewear sells its products through both online and offline platforms.

Campus Activewear is among the top five brands with highest sales. Campus had an approximately 15% share of the branded sports and athleisure footwear retail market in India by value in FY20, which increased to approximately 17% share in FY21.

Analysts suggest investing with a long term view in the IPO considering good future prospects.

While recommending this issue for long-term investors only, Santosh Meena, head of research at Swastika Investmart said that, “Campus Activewear Limited is India's largest sports and athleisure footwear brand, it enjoys competitive advantages like integrated manufacturing facilities, strong brand recognition, robust distribution network. The company has good growth prospects, good relationships with its stockists & suppliers, a focus on in-house designing, and an enviable supply chain network.”

Campus has about 17% market share in branded sports and athleisure footwear in India and is one of the largest players in terms of volume (13.6 million pairs).

“We assign Subscribe rating given its niche positioning in a fast growing segment, which would enable it to deliver sustainable profitable growth,” said a report by ICICIdirect.


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