Campus Activewear IPO - 7 Things to Know
by 5paisa Research Team
15 Feb 2022
Campus Activewear Ltd IPO
Closed
RHP
IPO Details
- Open Date 26-Apr-22
- Close Date 28-Apr-22
- Lot Size 51
- IPO Size ₹ 1400 Cr
- IPO Price Range ₹ 278 - ₹ 292
- Min Investment ₹ 14,178
- Listing Exchange NSE, BSE
- Basis of Allotment 04-May-22
- Refunds 05-May-22
- Credit to Demat Account 06-May-22
- Listing Date 09-May-22
Campus Activewear Ltd IPO Subscription Status
| QIB | NII | Retail | Employee | TOTAL | |
|---|---|---|---|---|---|
| Day 1 | 0.09x | 1.32x | 1.88x | 0.68x | 1.24x |
| Day 2 | 0.13x | 5.67x | 3.94x | 1.42x | 3.21x |
| Day 3 | 152.04x | 22.25x | 7.68x | 2.11x | 51.75x |
IPO Synopsis
Campus Activewear has filed a DRHP with SEBI and the issue is entirely an offer for sale of equity shares of up to 5.1 crore equity shares. The equity shares are being offloaded by the promoters Hari Krishan Agarwal and Nikhil Agarwal and other shareholders like TPG Growth III SF Pte Ltd and QRG Enterprises
The book running lead managers are JM Financial Ltd, BofA Securities Ltd, CLSA India Pvt Ltd and Kotak Mahindra Capital Company Ltd. Current pre-IPO promoter holding stands at 78.21%.
Check Allotment Status
Click to check Campus Activewear IPO Allotment status from 4th May, 2022.
Objectives of the offer
The main objective is to gain from the listing of the company on the stock exchanges.
About Campus Activewear Ltd
In terms of value and volume, Campus Activewear has been hailed as the largest sports and athleisure footwear brand in India, in FY21. The company had 15% market share in the athleisure footwear industry in India in FY20, in terms of value and this increased to 17% in FY21. They cover more than 85% of the total market for sports and athleisure in FY21.
As of 30 September 2021, they have an in-house design team of 49 employees that are based out of India. They are very fast and efficient in launching their products and take between 120 to 180 days. In FY21, they launched 583 new designs. Their entire product portfolio consists of 1,274 active styles for men, 190 styles for women and 423 styles for women and children as on 30 September 2021. They sold 7.05 million pairs of shoes as on 30 September 2021.
Campus Activewear has over 400 distributors and an internal sales force of 153 employees. They are spread across 28 states and 652 cities all over the country. Campus has a strict quality control policy and there are 71 employees that perform quality inspection and testing procedures. They have 5 manufacturing facilities located in Uttarakhand, Himachal Pradesh etc.
Campus sells footwear across different price ranges, starting from entry level (below Rs.1,049), semi premium (Rs.1,050-Rs.1,499) to premium (above Rs.1,500).
Campus Activewear Ltd Financial Status
|
Particulars (In Rs cr) |
Q2 ended 30 September, 2021 |
FY21 |
FY20 |
FY19 |
|
Revenue |
408.3 |
711.3 |
732 |
594.9 |
|
PAT |
30.86 |
26.87 |
61.6 |
38.41 |
|
EPS (In Rs) |
1.02 |
0.88 |
2.05 |
1.28 |
|
Particulars (In Rs cr) |
Q2 ended 30 September, 2021 |
FY21 |
FY20 |
FY19 |
|
Total Assets |
837.2 |
684.7 |
719.22 |
505.55 |
|
Total Borrowings |
191.6 |
135.6 |
243.2 |
174.75 |
|
Equity Share Capital |
151.87 |
151.87 |
151.87 |
0.97 |
Key Financial Metrics
|
Particulars
|
Q2 ended 30 September, 2021 |
FY21 |
FY20 |
FY19 |
|
EBITDA (In Rs cr) |
71.9 |
119.8 |
138.32 |
101.8 |
|
EBITDA Margin (%) |
17.61% |
16.84% |
18.90% |
17.12% |
|
PAT Margin (%) |
7.37% |
3.78% |
8.52% |
6.49% |
|
ROE (%) |
9.16% |
8.99% |
25.64% |
21.32% |
|
ROCE (%) |
8.47% |
18.54% |
21.03% |
21.88% |
Peer Comparison (FY20)
|
Company |
Revenue (In Rs cr) |
Gross Margin (%) |
EBITDA Margin(%) |
PAT Margin (%) |
ROCE (%) |
|
Adidas |
1198 |
47 |
21 |
13 |
21 |
|
Asian Footwear |
103 |
33 |
8 |
3 |
22 |
|
Asics |
162 |
38 |
4 |
1 |
5 |
|
Bata |
3056 |
58 |
28 |
11 |
21 |
|
Campus |
732 |
48 |
19 |
8 |
30 |
|
Decathlon |
2208 |
34 |
6 |
-3 |
-1 |
|
Khadim |
772 |
36 |
4 |
-4 |
-1 |
|
Lancer |
99 |
35 |
10 |
3 |
20 |
|
Liberty Shoes |
652 |
48 |
9 |
1 |
9 |
|
Metro Shoes |
1285 |
56 |
27 |
12 |
20 |
|
Mizra International |
1260 |
44 |
14 |
4 |
13 |
|
Nike |
760 |
44 |
8 |
4 |
15 |
|
Puma |
1412 |
45 |
3 |
-1 |
16 |
|
Reebok |
429 |
44 |
17 |
16 |
25 |
|
Re laxo |
2410 |
57 |
17 |
9 |
24 |
|
Under Armour |
44 |
42 |
-19 |
-20 |
-18 |
|
Skechers |
659 |
40 |
17 |
9 |
26 |
The Key Points are-
IPO Key Points
-
Strengths
1. Campus Activewear is one of the largest growing names in the sports and athleisure market in India, growing from a 15% market share in FY20 to a 17% market share in FY21
2. They have always been fashion forward and have a fashion forward approach which enables them to stay updated and innovate newer products as per the latest fashion
3. They have a robust supply chain and a very difficult to replicate integrated manufacturing capabilities
4. They have an omni-channel network and also a pan-India presence which is helping them move higher up the chain
5. They have a very strong brand recognition and a very successful marketing approach
-
Risks
1. Any failure to keep up with the constantly changing trends and to effectively promote and further develop the brand, will materially affect the business and its operations
2. The industry that the company operates in is highly competitive and any failure in effective competition will adversely affect the financials and operations
3. Pricing pressures arising from intense competition will adversely affect the ability to increase prices of the products and in turn decrease the gross margins of the company
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-
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