White & Case Advises on IPO of Campus Activewear Limited

Press Release
1 min read

Global law firm White & Case LLP has advised JM Financial Limited, BofA Securities India Limited, CLSA India Private Limited and Kotak Mahindra Capital Company Limited on the 144A IPO of Campus Activewear Limited, backed by private equity company TPG Growth III SF Pte. Ltd. and QRG Enterprises Limited. 

"White & Case teams in Singapore and New York advised on this significant IPO in the India market, which received a strong response from investors and is the first IPO in India in 2022," said White & Case partner Rahul Guptan, who led the Firm’s deal team. "The IPO, which was subscribed 52 times, has received positive publicity and support from investors interested in the India markets and the fast growing sports and athleisure segment. Our role advising on it demonstrates White & Case’s strong reputation in the India financial markets and the Firm’s well established presence in Asia-Pacific." 

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

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 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).

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