Campus Activewear slips over 5% in opening trade on the back of a large block deal in the counter. Around 2.5 crore shares or 8.1% equity worth Rs 861 crore changed hands at an average price of Rs 349 per share. At 9:20 AM, shares of Campus Activewear were down 5.08% or Rs 18.80 at Rs 351. According to a report by CNBC-TV18, quoting sources. TPG Global, which currently holds a 7.62% stake or 2,32,07,692 shares of the company is the likely seller in the block deal.
The floor price for the block deal was placed at Rs 345 per share and the total block deal was expected to be worth Rs 800 crore. Shares of Campus Activewear ended at Rs 369 on the BSE on Thursday. The floor price of the block deal was at a 6.5% discount to Thursday’s closing price.
The company’s net profit fell by nearly 12% to Rs 48.31 crore in the quarter ended December 31, 2022, against Rs 54.72 crore in the same quarter a year ago. Revenue from operations grew 7.4% on a YoY basis to Rs 465.62 crore during the same quarter.
Campus is India’s largest sports and athleisure footwear brand. It is the largest sports and athleisure brand in India terms of value and volume in Fiscal 2021. The company was introduced in 2005 as a lifestyle-oriented sports and athleisure brand that offers a diverse product portfolio for the entire family.