Campus Shoes IPO: Campus Shoes to launch $300 mn IPO next year, hires bankers

MUMBAI: Campus Activewear, the main sports activities shoe model, will hit the market by early subsequent 12 months with its Rs 2,200 crore ($300 million) IPO. Campus, backed by personal fairness agency TPG, will promote about 15-20% stake within the proposed itemizing, mentioned a number of individuals conscious of the event.

About 4 bankers – Kotak Mahindra, JM Monetary, Financial institution of America Merrill Lynch and CLSA have been employed to run the IPO course of. DRHP can be filed by October this month.

Present traders will dilute about 12-15% stake whereas 2-3% stake to be offered out for major capital, mentioned one of many sources above talked about.

In addition to personal fairness fund TPG Growth, the household workplace of the promoters of Havells Group– QRG Enterprises Restricted additionally holds a minority stake in Campus. Each maintain collectively about 25% stake in Campus, acquired in 2017 at a valuation of Rs6000 crore.

Final month, ET first reported on Campus Activewear’s plans to drift a Rs2000-crore IPO.

“We’re contemplating itemizing the corporate within the medium to long run and it is truthfully too early to touch upon any specifics on valuation, dimension and construction,” Nikhil Agarwal, CEO, Campus Activewear had advised ET final month. Spokespersons with TPG, QRG declined to remark.

In 1983, HK Agarwal based the ‘Motion’ model, a family title within the informal and sports activities footwear section in India. Later in 1997, the Campus model was launched.

The corporate reported a income of Rs 718.2 crore in FY21 in comparison with Rs 732 crore a 12 months in the past. EBITDA of the corporate stood at Rs 117 crore, in comparison with Rs 136.3 crore a 12 months in the past.

Campus Group’s income grew at a CAGR of 15% over FY15-FY21. The revenues stay liable to seasonality with nearly all of gross sales generated over August-December; the winter season in north India, in line with India Scores.

Campus strengthened its model presence throughout FY21 by rising unique model retailers in addition to increasing its presence within the on-line section. The model already advantages from a wholesome presence in north India and is now targeted on increasing in different areas as nicely. Throughout FY21, CAPL expanded its distribution community to 350 distributors.

Main footwear manufacturers in India are Bata India, Relaxo Footwears Restricted, Liberty Footwear, Khadim India, Nike, Adidas AG and Puma.

Shares of the footwear corporations witnessed an incredible progress within the final 1 12 months. Shares of Bata appreciated 25 %, Liberty gained 23 %, whereas Relaxo surged 87 % and Khadim India appreciated 165 % in comparison with a 43 % spike in benchmark Sensex over the last 1 12 months.

General footwear market in India is Rs60,000 crore, of which sports activities and leisure sneakers are about Rs10,000 crore. Campus holds about 15-20% market share in India, whereas Reebok is the chief with 45% market share.

Khadim India, the Kolkata-based footwear maker backed by Fairwinds personal fairness (previously Reliance PE), was the newest footwear firm to get listed. Listed in 2017, Khadim India raised about Rs543 crore.

India is the second largest producer of footwear globally, accounting for 13 per cent of the worldwide footwear manufacturing, subsequent to China, which dominates the worldwide footwear trade accounting for near 67 per cent of the market, in line with the Council for Footwear, Leather-based & Equipment.

Nonetheless, the typical per capita footwear consumption in India continues to be low at 1.66 pair each year compared to the worldwide common consumption of three pair each year and developed nations common of 6-7 pair each year.


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