Campus Activewear IPO has accumulated bids for 5.92 crore equity shares, as against the offer size of 3.36 crore equity shares, subscribing 1.76 times on the 2nd day of IPO, on April 27. However, the offer size was cut to 3.36 crore equity shares, from 4.79 crore equity shares.
The section which is kept aside for the retail investors was subscribed 2.62 times. On the other hand, the non-institutional investors were booked 2.02 times. Significantly, the qualified institutional investors obtained 9% shares of the allotted quota. The company's employees bid for 81% shares of their reserved quota.
According to Sneha Poddar, Research Analyst at Motilal Oswal, "Campus with leading market share in India's branded sports and athleisure footwear, is well placed to capture the highly underpenetrated and fast-growing footwear segment in India." The company is the biggest sports and athleisure footwear brand, considering both value and volume in FY21 with a market share of 17%.