Newly listed Campus Activewear, Rainbow Childrens Medicare shares slip up to 3% as 30-day anchor lock-in period ends today

Newly listed Campus Activewear and Rainbow Children’s Medicare shares declined up to 3 per cent intraday on the BSE as both companies’ 30-day anchor lock-in period concludes on Monday. The former got listed on May 9 and the latter on the following day i.e. on May 10, 2022. 

Individually, Campus shares slipped nearly 2.5 per cent to hit a day’s low level of Rs 331.4 per share, while Rainbow shares slipped over 3 per cent to touch a day’s low level of 456.35 per share on the BSE, as compared to a 0.14 per cent fall in the S&P BSE Sensex at around 01:00 PM. 

Campus Activewear had made a decent debut on exchanges it got listed at a premium of around 23 per cent to Rs 360 and Rs 355 on the NSE and BSE, respectively. The initial public offering (IPO) was launched between April 26-28, to raise Rs 1,400.14 crore with a price band of Rs 278-292 per share. 

On the contrary, Rainbow Children's Medicare made a tepid debut on exchanges as it got listed at a discount of 9 per cent to Rs 506 and Rs 510 on BSE & NSE over its issue price of Rs 542 apiece. The IPO was launched between April 27-29 to raise Rs 1,580.85 at a price range of Rs 516-542 apiece. 

Since listing, Campus shares have corrected by over 11 per cent, while Rainbow shares gained over 6.5 per cent on the BSE as against over 1.5 per cent gain in BSE Sensex during the same period. 

Who is an anchor investor?   

As per the Ministry of Corporate Affairs, a Qualified Institutional Buyer (QIB) is an anchor investor who makes an application of a value of at least Rs 10 crore in a public issue. There shall be a lock-in of 30 days on the shares allotted to the Anchor Investor from the date of allotment in the public issue. 

Allocation to Anchor Investors shall be on a discretionary basis and subject to the conditions laid down by the ministry and the Securities Exchange Board of India (SEBI).