Campus Activewear share is all set to list on BSE, NSE Today: Analysts predict a decent listing gain of 15-20 per cent for Campus Activewear stock, know details
Campus Activewear is all set to start its journey on the Dalal Street on May 9. The largest sports and athleisure footwear brand in India will get listed on both both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) at 10 am on Monday. The Rs 1,400-crore public issue received a stellar response from the investors even during a volatile market. Campus Activewear IPO was booked 51.75 times when it had opened for subscription. Investors put in bids for 174.02 crore equity shares against Campus Activewear’s offer size of 3.36 crore equity shares.
Campus Activewear initial public offering (IPO) opened for subscription frm April 26-28. The price band for Campus Activewear IPO was fixed at Rs 278-292 per share. At the upper end of the price band, the company aimed to raise around Rs 1,400 crore through its public offer. The IPO is entirely an offer for sale by investors and promoters, hence the company will not receive any money from the offer for sale issue. Anchor investors garnered Rs 418.3 crore ahead of the opening of Campus Activewear IPO.
Campus Activewear IPO GMP
Campus Activewear share dropped to Rs 60 in the grey market during the weekend. Earlier, the Campus Activewear share traded at Rs 95 on May, according to the data shared by IPO Watch. The sell-off in the secondary market pushed the grey market premium of Campus Activewear down over the last couple of days.
Campus Activewear IPO Valuation
“Campus Activewear valuations, the post-issue TTM P/E works out to 93.4x (at the upper end of the issue price band), which is high considering Company’s negative PAT CAGR of 17 per cent over FY19-21. However, Campus Activewear has strong brands and a wide range of products but we believe that these positives are captured in the valuations commanded by the company,” said Amarjeet S Maurya, AVP – mid caps, Angel One Ltd.
Campus Activewear IPO Subscription Status
Campus Activewear fetched overwhelming response from the qualified institutional investors. The portion set aside for them was booked 152.04 times. The non-institutional investors bid Campus Activewear shares 22.25 times during the offer. Retail investors’ quota was subscribed 7.68 times while the employees portion was booked 2.11 times.
Campus Activewear IPO: How Much Listing Gains to Expect?
Considering decent response from the investors and strong premium in the unofficial market, experts predict a strong listing gains for Campus Activewear IPO. “Footwear brand Campus Activewear, received a good response from investors during its subscription period. The company is a monopoly in branded sports and athleisure footwear in India. During the pandemic too it maintained its operations at the gross levels and now is poised for a good expansion. The issue can be considered for both listing gains and long term holdings. As per offer documents, it has shown Bata India and Relaxo as its listed peers which are at a PE of 366.72 and 101.65 and campus activewear at P/E of 78.49,” said Manoj Dalmia, founder and director, Proficient equities Private limited.
Campus Activewear shares can see a decent premium listing gain around 15-18 percent in Campus debut despite high volatility in market sentiments, said Prashanth Tapse, vice president (Research) at Mehta Equities.
