New Delhi: Athleisure footwear company Campus Activewear’s shares made a decent debut on the exchanges on Monday, as the shares jumped 23 per cent and got listed at Rs 355 against the issue price of Rs 292.
The stock clocked a premium of 21.57 per cent, against the issue price on the BSE. Later during intraday, the shares further zoomed 26 per cent to Rs 368. At 1.15 pm, the stocks of Campus Activewear were trading at Rs 388, up 32 per cent on the BSE.
On NSE, Campus Activewear made its debut at Rs 360, a rise of 23.28 per cent over its issue price.
Last month, the initial public offering (IPO) of Campus Activewear was subscribed 51.75 times, according to a report by the PTI.
The price range for the IPO of Campus Activewear’s was at Rs 278-292 per share.
During the IPO, the institutional investor portion was subscribed 152 times, wealthy investor portion was subscribed 22.25 times, while the retail investors' portion was subscribed 7.7 times.
Given the challenging and volatile market conditions, the response got by the IPO exceeded expectations.
The Rs 1,400-crore IPO of Campus Activewear was entirely through secondary share sale by existing shareholders, including private equity firm TPG.
The footwear brand 'Campus' was launched in 2005 and offers a diverse product portfolio for the entire family.
The firm manufactures and distributes a variety of footwear such running shoes, walking shoes, casual shoes, floaters, slippers, flip flops, and sandals in multiple colours, styles, and at affordable prices. Campus Activewear also sells its products through online platforms and offline stores.