Campus Activewear shares tanked 9% after TPG sold its entire 7.62% stake.

Shares of Campus Activewear fell nearly 9 percent after TPG sold its 7.62 percent stake in the company via package deals. The principal private equity firm sold 23.2 million shares at Rs 347.24 per share totaling Rs 806 crore.

Among the buyers were Fidelity and Societe Generale. Shares of the shoe manufacturer closed at Rs 338 on the New York Stock Exchange with a turnover of Rs 1,229 crore shares.

Campus was listed in May 2022. In the IPO, the company sold shares worth Rs 292 each. The stock then reached Rs 640. At the latest close, the company was valued at Rs. 10,321 crore.

For the quarter ending December 2022, the company reported net profit of Rs. 48 crore on revenue of Rs. 466 crore.

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