In Friday’s intraday trade on the National Stock Exchange (NSE), shares of Campus Activewear lost 7% to Rs 345.10, transferring over 9% of the equity on the exchange.
By 09:33 AM; According to data from the exchange, approximately 27.93 million shares, or 9.17 percent of Campus Activewear’s total equity, were traded on the NSE. On the NSE and BSE, a total of 29.2 million shares, or 9.6% of the footwear company’s equity, were exchanged. It was not immediately known who the buyers and sellers were.
As per media reports, confidential value firm TPG had wanted to sell 7.62 percent stake in Grounds Sports clothing for Rs 800 crore through a block bargain at Rs 345 for every offer.
TPG Growth III SF Private by December 31, 2022 According to data on shareholding patterns, Ltd owned 23.21 million shares of Campus Activewear.
The largest sports and athleisure footwear brand in India is Campus Activewear. The company makes and sells a wide range of footwear, including casual shoes, flip flops, sandals, slippers, running shoes, and floaters in a variety of colors and designs at reasonable prices. Campus Activewear offers its products for sale both online and in physical stores.
On May 9, 2022, the company made its public stock market debut. In an initial public offering (IPO), the company sold shares for Rs 292 each. On October 19, 2022, the stock reached a record high of Rs 640. On June 20, 2022, it had fallen to an all-time low of Rs 296.85.
Campus Activewear has underperformed the market over the past six months, falling 42%, while the Nifty 50 has fallen 1.4%.
“With a rising fitness quotient among customers across India, including metros, tier II cities, and the hinterland, the Indian sports and athletic footwear market is at an inflection point. In its February 14, 2023, outlook for the December quarter, the company’s management stated, “The company aims to drive sustainable growth in the coming years through its omnichannel experience, focus on premiumisation, product diversification across product segments and categories, and pan India distribution network.” while revealing the outcome.
