Campus Activewear Ends 30% Higher On Debut

Shares of Campus Activewear Ltd. gained on debut after its initial public offering was subscribed 51.75 times.

The stock of the sportswear and footwear company listed at Rs 355 apiece on the BSE, a premium of 21.5% to its IPO price of Rs 292. It then gained as much as 43% to an intraday high of Rs 417.7 apiece, before closing about 29.6% up.

The IPO saw heavy demand from institutional investors—the portion set aside for the category was subscribed over 152 times.

The offer comprised a sale of 4.79 crore shares by private equity firm TPG and other promoters. The proceeds did not come to the company but its stakeholders.