Campus Activewear Ltd., which specializes in the manufacture and distribution of athletic footwear, has announced it will open an initial public offering of shares with a face value of £5 each, involving an offer to sell up to a total of 47,950,000 shares on April 26 .
The price range for the offering has been set at ₹278 to ₹292 per share. Bids can be made for a minimum of 51 shares and thereafter in multiples of 51 shares, the company said.
The Offering includes an offer to sell up to 8,000,000 shares of Hari Krishan Agarwal, up to 4,500,000 shares of Nikhil Aggarwal (collectively the Promoter Selling Shareholders), up to 29,100,000 shares of TPG Growth III SF Pte. Ltd., up to 6,050,000 shares in ORG Enterprises Ltd (collectively the Investor Selling Shareholders), up to 100,000 shares in Rajiv Goel and up to 200,000 shares in Rajesh Kumar Gupta (collectively the Other Selling Shareholders). The offer also includes a reservation for a subscription by eligible employees, the company said.
“The company plans to strengthen its brand and leadership position with an increased focus on women and children. It will steadily expand into new territories by deepening its presence in the western and southern regions of India,” said Nikhil Aggarwal, CEO of Campus Activewear.
“The company plans to further emphasize the omni-channel experience and will continue to focus on premiumization in all product segments. It seeks product diversification through expansion into related categories,” said Mr Aggarwal.
The company plans to deepen and expand all the different elements of its omnichannel experience, such as its retail distribution network, exclusive branded outlets, presence and increasing online sales, he added.
