Campus Activewear subscribed 3.2x on day-2 in HNI, retail interest

Wealthy investor portion subscribed 5.6 times, retail by 3.9 times, and the portion reserved for employees by 1.4 times. The institutional portion was subscribed 13%

Campus Activewear’s initial public offering (IPO) was subscribed 3.2 times on Wednesday, the second day of the issue. The wealthy investor portion was subscribed 5.6 times, the retail portion by 3.9 times, and the portion reserved for employees by 1.4 times. The institutional portion was subscribed 13 per cent.

On Monday, the company allotted shares worth Rs 418.3 crore to 32 anchor investors at ~292 per share, the upper end of the price band. Abu Dhabi Investment Authority, Fidelity, Nomura, Invesco and Goldman Sachs were some investors who got allotment in the anchor category. Among domestic funds, HDFC MF, ICICI Prudential MF and Franklin India MF got an allotment.

The Rs 1,400-crore IPO is entirely a secondary share sale by existing shareholders, including private equity firm TPG. At the top-end of the price band, Campus Activewear will have a market cap of Rs 8,886 crore.