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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Offer for sale by selling shareholders
The entire issue was an offer for sale to allow partial exit for existing private equity and other selling shareholders; the company did not receive any proceeds from the offer, beyond achieving the benefits of a stock exchange listing.
No lots distribution added yet.
(₹ in Crore)
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Campus Activewear Limited, founded in 2005, is India's largest sports and athleisure footwear brand by both value and volume, holding an estimated 17 percent share of the branded sports and athleisure footwear market. The company designs, manufactures and distributes a wide range of footwear, including running shoes, walking shoes, casual shoes, floaters, slippers, flip flops and sandals, sold across multiple price points and styles. The brand reaches customers through a large pan-India network combining company-owned and franchised exclusive brand outlets, general trade, large-format retail and a fast-growing e-commerce channel, with roughly three-quarters of its revenue historically coming from tier II and tier III cities. The company also carries one of the largest SKU counts among peers in the entry-level footwear segment and has scaled its online sales sharply over recent years. The company is led by promoters Hari Krishan Agarwal and Nikhil Aggarwal. Its initial public offer was structured entirely as an offer for sale, allowing private equity investors including TPG and QRG to partially exit their holdings, with the company itself receiving no proceeds from the issue.
Anchor investors were allocated roughly 1.43 crore shares ahead of the offer, equivalent to about 30 percent of the issue, as part of the standard anchor book process for the offer for sale.
Source: RHP • Analysis provided for informational purposes
Last Updated: 19 July 2026, 6:56 PM
Strong brand recognition and distribution reach
The company has built a well-known brand with a pan-India sales and distribution network across a large number of retail touchpoints.
Market leadership in sports and athleisure footwear
It holds an estimated 17 percent share of India's sports and athleisure footwear market by both value and volume, the largest of any player.
Fast-growing scaled competitor
The company has grown faster than most scaled peers in its segment over recent years.
Wide entry-level product range
It carries one of the largest numbers of SKUs among peers in the entry-level footwear segment, supporting broad customer appeal.
Favorable industry growth outlook
The Indian footwear industry, and the sports and athleisure segment in particular, was projected to grow at a strong compound annual rate in the years following the issue.
Concentration in tier II and III cities
A large majority of revenue has historically come from tier II and III cities, where affordability constraints can limit the ability to raise average selling prices.
Margin pressure versus peers
Gross margins have trailed some larger listed peers, suggesting in-house manufacturing has not yet delivered a clear cost advantage.
Raw material sourcing dependence
The company outsources a significant portion of its raw materials, creating dependence on external suppliers.
Campus Activewear Limited
Company contact details are not available.
MUFG Intime India Private Limited
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Softening return ratios
Certain return and profitability metrics had shown a declining trend even as the company reduced its debt.
Full offer-for-sale structure
As the issue was entirely an offer for sale by existing shareholders including private equity investors, the company itself received no capital from the offer.