26 March 2022, Mumbai:
Market regulator SEBI has approved athleisure and sports footwear brand Campus Activewear’s new IPO.
The TPG Capital-backed business may now launch its IPO which it will 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.
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ALSO READ Footwear brand Campus plans IPO
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.
Currently, Campus Activewear’s promoters hold a stake of 78.21 per cent in the business. Investor TPG Growth holds a 17.19 per cent stake and QRG Enterprises holds a 3.86 per cent stake.
RELATED NEWS Campus Activewear, plans to raise funds through the proposed initial public offering (IPO)
The IPO will be managed by financial institutions JM Financial Ltd and ICICI Securities In 2021, Campus Activewear’s share in the branded sports and athleisure footwear market increased to 17 per cent from the 15 per cent it held in FY2020. 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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CREDITS: Fashion Network.
