Campus Activewear files draft papers with Sebi to garner funds via IPO

Sports and athleisure footwear company Campus Activewear has filed preliminary papers with capital markets regulator Sebi to mop up funds through an initial share-sale.

The initial public offering (IPO) is entirely an offer for sale (OFS) of 5.1 crore equity shares by promoters and existing shareholders, according to the draft red herring prospectus (DRHP).

Those offering shares in the OFS include promoters -- Hari Krishna Agarwal and Nikhil Aggarwal -- and investors such as TPG Growth III SF Pte Ltd and QRG Enterprises Ltd.

At present, promoters hold 78.21 per cent stake in the company, TPG Growth and QRG Enterprises own 17.19 per cent and 3.86 per cent shareholding, respectively.

Campus Activewear introduced the brand 'Campus' in 2005 and is a lifestyle-oriented sports and athleisure footwear company that offers a diverse product portfolio for the entire family.

The brand enjoys an about 15 per cent market share in the branded sports and athleisure footwear industry in India by value for fiscal 2020, which increased to approximately 17 per cent in fiscal 2021.

BofA Securities India Limited, JM Financial, CLSA India and Kotak Mahindra Capital Company have been appointed as merchant bankers to advise the company on the public issue.