Campus Activewear Private Ltd. will hit the market by early subsequent 12 months with its INR 22,000 million ($300 million) IPO. Campus, backed by personal fairness agency TPG, will promote about 15-20% stake within the proposed itemizing, mentioned a number of individuals conscious of the event. About 4 bankers – Kotak Mahindra, JM Monetary, Financial institution of America Merrill Lynch and CLSA have been employed to run the IPO course of.

DRHP can be filed by October this month. Present traders will dilute about 12% - 15% stake whereas 2-3% stake to be offered out for major capital, mentioned one of many sources above talked about. In addition to personal fairness fund TPG Growth, the household workplace of the promoters of Havells Group– QRG Enterprises Restricted additionally holds a minority stake in Campus.

Each maintain collectively about 25% stake in Campus, acquired in 2017 at a valuation of INR 60,000 million. “We're contemplating itemizing the corporate within the medium to long run and it is truthfully too early to touch upon any specifics on valuation, dimension and construction,” Nikhil Agarwal, CEO, Campus Activewear had advised ET final month. Spokespersons with TPG, QRG declined to remark.