Campus Activewear Limited’s $180 Million Initial Public Offering

White & Case advised the book running lead managers on the IPO.

Campus Activewear Limited, backed by private equity company TPG Growth III SF Pte. Ltd. and QRG Enterprises Limited, announced its IPO.

The IPO raised approximately US$180 million and achieved a market capitalization of US$1.16 billion.

The book running lead managers in the IPO comprised JM Financial Limited, BofA Securities India Limited, CLSA India Private Limited and Kotak Mahindra Capital Company Limited.

Campus Activewear Limited is India’s largest sports and athleisure footwear brand, with a 17 percent market share in India by value. It has been one of the fastest-growing scaled sports and athleisure footwear brands in India over the last few years.

The White & Case team which advised on the transaction was led by partners Rahul Guptan (Picture) and Kaya Proudian (both Singapore), with support from partner Steven Gee (New York) and associates Rachna Talati and Stephanie Zhao (both Singapore) and Caitlin Dunham (New York).

Involved fees earner: Rahul Guptan – Clifford Chance; Caitlin Dunham – White & Case; Steven Gee – White & Case; Kaya Proudian – White & Case; Rachna Talati – White & Case; Stephanie Zhao – White & Case;

Law Firms: Clifford Chance; White & Case;

Clients: BofA Securities India Limited (DSP Merrill Lynch Limited); CLSA India Private Limited; JM Financial; Kotak Mahindra Capital Co. Ltd.;