Campus Activewear gets Sebi's nod for IPO
Athleisure and sports footwear brand Campus Activewear has been given the go-ahead by market regulator Sebi for its planned initial public offering.
The TPG Capital-backed business can now prepare to launch its IPO which it plans to run an offer for sale of 5.1 crore equity shares by its promoters and existing shareholders, according to the business’ Draft Red Herring Prospectus, the Press Trust of India reported.
Businesses and individuals offering shares in the offer for sale include Campus Activewear’s promoters Hari Krishna Agarwal and Nikhil Aggarwal as well as investors including TPG Growth III SF Pte Ltd and QRG Enterprises Ltd.
At present, Campus Activewear’s promoters hold a stake of 78.21% in the business. Investor TPG Growth holds a 17.19% stake and QRG Enterprises holds a 3.86% stake. Campus Activewear has appointed financial institutions JM Financial Ltd and ICICI Securities as the book running lead manager for the IPO.
The brand held a 15% market share in India’s branded sports and athleisure footwear market in the 2020 financial year, ET Bureau reported. In the 2021 financial year, this market share increased to 17%
Earlier this month, the brand opened its 100th store in India in Bandra, Mumbai and it also retails from its e-commerce store. The brand launched in 1997 and has 20 manufacturing units in India.
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