Campus Activewear IPO Campus Activewear Limited has debuted at Rs. 360 i.e. 23 percent above its issue price of Rs 292.
The stock listed at Rs 355, registering a premium of 21.57 per cent, against the issue price on the BSE. It further zoomed 26 per cent to Rs 368.
At the NSE, it made its debut at Rs 360, a jump of 23.28 per cent over its issue price.
Santosh Meena, Head of Research, Swastika Investmart Ltd. said, The company’s good listing during such a volatile market highlights the inherent strength of the company’s business and fundamentals.
Campus Activewear Limited is India's largest sports and athleisure footwear brand that enjoys competitive advantages like integrated manufacturing facilities, strong brand recognition and a robust distribution network.
The company has a huge runway of growth and the long-term prospects are good. Those who applied for listing gains can maintain a stop loss of Rs. 300. We recommend this stock for the long term to both existing and new investors
The Rs 1,400-crore initial public offering (IPO) of the footwear company Campus Activewear opened for subscription on Tuesday. It will remain open till April 28, 2022.
Delhi-headquartered Campus Activewear targets to raise Rs 1,400 crore from the primary markets through the IPO. The company has fixed price band of its public offer at Rs 278 to Rs 292 per equity share.
The IPO is likely to get a good response as in the grey market it was trading at a premium of Rs 72. This means the company's share is expected to list at Rs 364.
Campus Activewear is primarily engaged in the manufacture, distribution and sales of sports and athleisure footwear. It is one of the largest sports and athleisure footwear brands in India in terms of both value and volume.
The company's IPO is open for subscription from April 26 to April 28 and the IPO is likely to be allotted on May 4. The tentative date for Campus Activewear share listing at the stock exchanges is 9 May.
Campus Activewear introduced the brand 'Campus' in 2005 and offers a diverse product portfolio for the entire family.
Meanwhile, the 30-share BSE Sensex was trading 649.77 points or 1.18 percent lower at 54,185.81, while the NSE Nifty also tumbled 185.25 points or 1.13 percent to 16,226.00.
