The IPO of footwear maker Campus will open for subscription on 26 April. Ahead of D-Day, there has been a sharp jump in the gray market price (GMP) of the IPO. Till Sunday it was Rs 60, then on Monday it has increased to Rs 85.
This is generally good news for the people planning to invest in IPO. It is worth noting that the IPO will open on Tuesday and will be open for subscription till Thursday. Campus Activewear plans to raise Rs 1,400 crore through this IPO.
Important things about Campus IPO
- The gray market price of Campus Activewear IPO which was Rs 53 on Saturday has now increased to Rs 85.
- The price band of the IPO is Rs 278-292 per share and there are 51 shares in a lot.
- Bidder has to bid for at least 1 lot. Whereas maximum he can bid for 13 lots.
- The company wants to raise Rs 1,400.14 crore through IPO and has issued a total of 47,950,000 shares for this.
- An investor has to invest a minimum of Rs 14892 in the IPO. Whereas they can invest a maximum of Rs 1,93596.
The allotment of the IPO is expected on May 4, 2022. At the same time, it is expected to be listed on the stock market by 9 May 2022.
What does GMP mean?
According to market analysts, the gray market IPO price means that the IPO will be listed at a price higher than its specified price. For example, today the gray market price of the campus is Rs 80. So the market expects the campus shares to be listed at Rs 292+80 i.e. Rs 372. However, experts agree that investors should focus on the performance of the company more than the gray market. GMP is not an official figure. These are just based on speculations.
About the company
Campus manufactures Activewear Sports and Athleisure Footwear. It was established in 2005. The company claims that by FY 2021, the company has a 15% share in the Indian sports footwear market in terms of value. In 2021, the company received a total revenue of Rs 715 crore. At the same time, the company’s net profit during this period stood at Rs 26.86 crore. Whereas its profit in 2020 was Rs 62.37 crore.
