Campus Activewear sets price band for IPO at Rs 278-292 a share

Campus Activewear Ltd has set its price band at Rs 278-292 a share for its initial public offering. The issue is expected to open for subscription on April 26 and close on April 28. Allotment of shares will be on May 4 and the company plans to list on exchanges on May 9.

The IPO comprises a pure offer-for-sale of up to 47.95 million shares by its existing shareholders and promoters. On the upper price band, it aims to raise around Rs 1,400 crore.

The OFS consists of up to 8 million shares by Hari Krishna Agarwal, up to 4.5 million shares by Nikhil Aggarwal, up to 29.1 million shares by TPG Growth III SF Pte Ltd and up to 6.05 million shares by QRG Enterprises Ltd.

Promoters now hold 78.21 percent stake in the company, while TPG Growth and QRG Enterprises own 17.19 percent and 3.86 percent.

The lifestyle-oriented sports and athleisure footwear company introduced the brand 'Campus' in 2005 and offers a diverse product portfolio for the entire family.

BofA Securities India Limited, JM Financial, CLSA India and Kotak Mahindra Capital Company are the lead managers to the issue.

This will be the first IPO under new HNI rules. In December 2021, the Securities and Exchange Board of India (Sebi) tightened certain IPO rules. These include new guidelines for determining the quota for high net-worth individuals and a longer lock-in period for anchor investors.