Campus Activewear makes a powerful debut, lists at over 23% premium over problem worth
Campus Activewear share worth: Shares of athleisure footwear firm Campus Activewear debuted on a powerful be aware and acquired listed at a premium of over 23 per cent from their problem worth within the inventory exchanges immediately.
The scrip acquired listed at Rs 360.00 apiece on the National Stock Exchange (NSE), thereby registering a achieve of 23.29 per cent from its supply worth of Rs 292.00, whereas on the BSE, it opened at Rs 355.00, up 21.58 per cent from the problem worth.
The inventory additional inched greater from its opening ranges and touched a excessive of Rs 373.70 on the BSE and Rs 372.60 on the NSE in the course of the first hour of commerce.
At 11:05 am, the scrip was buying and selling at Rs 373.05 on the BSE, up 27.76 per cent from the problem worth whereas on NSE it was at Rs 372.50, up 27.57 per cent. The market capitalisation stood at Rs 11,337.67 crore, information from the BSE confirmed.
Over 3.16 crore shares of Campus Activewear have been traded up to now on NSE whereas round 17.20 lakh shares have exchanged fingers on the BSE, information from the respective inventory trade confirmed.
Campus Activewear is a Delhi-based footwear agency that launched the model ‘Campus’ in 2005. It affords a various product portfolio for your entire household.
The IPO was met with a sturdy demand throughout its supply interval from April 26-28, 2021. It acquired subscribed 51.75 instances on the ultimate day.
Reacting to the itemizing, Santosh Meena, Head of Research at Swastika Investmart mentioned, “The company’s good listing during such a volatile market highlights the inherent strength of the company’s business and fundamentals. Campus Activewear Limited is India’s largest sports and athleisure footwear brand that enjoys competitive advantages like integrated manufacturing facilities, strong brand recognition, and a robust distribution network. The company has a huge runway of growth and the long-term prospects are good. Those who applied for listing gains can maintain a stop loss of Rs 300. We recommend this stock for the long term to both existing and new investors.”
