Motilal Oswal Mutual Fund has acquired a 1.57 percent equity stake in Campus Activewear, the leading sports and athleisure footwear brand in India, via open market transactions on May 9, the debut day.
Motilal Oswal MF has bought 48 lakh equity shares through three transactions as per the NSE bulk deals data.
The fund house purchased 16 lakh shares each at an average price of Rs 360 per share, and another 16 lakh shares at an average price of Rs 364.97 per share.
After the public issue, promoters hold a 74.10 percent equity stake in Campus and the rest is held by the public.
Campus Activewear closed at Rs 378.90 on its listing day, higher by 30 percent over its issue price of Rs 292, with a volume of 5.87 crore equity shares on the NSE, despite weak market conditions. The benchmark indices fell 0.67 percent on Monday.
"The company’s good listing during such a volatile market highlights the inherent strength of its business and fundamentals," Santosh Meena, Head of Research at Swastika Investmart said.
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, he said, adding that the company has a huge runway of growth and the long-term prospects are good.
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