Report
Clarence Chu
EUR 88.49 For Business Accounts Only

Campus Activewear IPO

Campus Activewear is looking to raise about US$184m in its India IPO, via a 100% secondary selldown.

Campus Activewear is a lifestyle-oriented sports and athleisure footwear firm based in India. Operating under the “CAMPUS” brand, the firm offers a diverse portfolio of styles, color palettes, and price points.

In comparison to peers, the firm has fared better during the pandemic, and had recorded stronger topline growth, even pre-pandemic. While a smaller player in the overall domestic footwear market, Campus is the largest domestic player in the niche sports and athleisure footwear market.

Were the firm to trade towards its peer average’s P/E, from the top end, there is an upside potential of 14.5% on the FY23E front, and 11.6% on the FY24E front.
Underlying
Campus Activewear Ltd

Provider
Aequitas Research
Aequitas Research

Aequitas Research is a leading ECM research firm with a focus on IPOs and placements/follow-on offerings across the Asia Pacific with deal size of over USD100m. 

Since 2015, we have covered 400+ IPOs and 450+ placements with a hit rate of 73% and 65%, respectively. We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic analysis.
 
Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis. We also provide a more quant driven analysis on placement/follow-on offerings.
 
Markets that we cover include:
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.

Analysts
Clarence Chu

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