Public Market

IPO

Sport shoe brand Campus Activewear to launch Rs.2,200-Cr IPO

Economic Times  

Sports shoe brand Campus Activewear will hit the market by early next year with its INR 2,200 crore (USD 300 million) IPO. Campus, backed by private equity firm TPG, will sell about 15-20% stake in the proposed listing. Existing investors will dilute about 12-15% stake while 2-3% stake is to be sold out for primary capital. Kotak Mahindra, JM Financial, Bank of America Merrill Lynch and CLSA have been hired to run the IPO process. Besides private equity fund TPG Growth, the family office of the promoters of Havells Group - QRG Enterprises Ltd - also holds a minority stake in Campus. Both hold about 25% stake in Campus, acquired in 2017 at a valuation of INR 6,000 crore.