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Sports shoe brand Campus to sell 16% in IPO; will raise $250-M

Economic Times  

Campus Activewear, a Mumbai-based sports shoe brand, plans to raise INR 1800 crore (USD 250 million), through the proposed initial public offering (IPO). The company, whose backers include US based PE fund TPG, plans to submit its draft red herring prospectus (DRHP) today. Kotak Mahindra, JM Financial, Bank of America and CLSA are the lead managers for the IPO. Campus plans to sell about 16% stake, through a secondary route. Existing investor TPG will sell about 10%, another investor QRG will sell 2% and promoters will sell about another 4%. Campus is considering seeking a valuation of about INR 11,000 crore (USD 1.5 Billion. Besides private equity fund TPG Growth, the family office of the promoters of Havells Group– QRG Enterprises Limited also holds a minority stake in Campus. Both hold together about 25% stake in Campus, acquired in 2017 at a valuation of INR 6000 crore.