Baazar Style Retail IPO Ends Today – Did You Participate?

Baazar Style Retail, a prominent fashion retail player in India, is set to make its market debut as its Initial Public Offering (IPO) concludes today. The IPO opened for subscription on August 30, 2024, and is expected to be listed on the stock exchanges, NSE and BSE, on September 6, 2024.

Baazar Style Retail IPO public issue consists of 21,459,488 equity shares, of which 75,00,934 shares are for retail investors, 42,86,248 shares for qualified institutional buyers (QIBs), and 32,14,686 shares for non-institutional investors (NIIs). Additionally, the IPO includes a reservation of up to 28,248 shares for employees, offered at a discount of ₹35 per share compared to the issue price.

The IPO has set a price band of ₹370 to ₹389 per share. Retail investors are required to invest a minimum of ₹14,782 for a lot size of 38 shares.

As of 11:33 AM on September 3, 2024, the final day of subscription, the Baazar Style Retail IPO was subscribed to 7.18x. QIBs subscribed 0.86x, NIIs subscribed 19.94x, and retail investors subscribed 5.26x.

The allotment process for the Baazar Style Retail IPO is anticipated to be completed on Wednesday, September 4, 2024. As the IPO concludes today, attention now shifts to the final allotment results and the company’s upcoming plans as it enters this new phase of its growth journey.

In its RHP, the company stated that the proceeds would be used for the prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company and for general corporate purposes.

About Baazar Style Retail Limited

Bazaar Style Retail Limited is a fashion retailer active in West Bengal and Odisha. The company provides a wide range of apparel for men, women, boys, girls, and infants. They also offer general merchandise, such as non-apparel items and home furnishings.

As of March 31, 2024, the company has 162 stores with an average store size of 9,046 square feet. Bazaar Style Retail operates across Odisha, Bihar, Assam, Jharkhand, Andhra Pradesh, Uttar Pradesh, Tripura, and Chhattisgarh.

In FY 2024, the company’s revenue from operations was ₹9,728.82 million, and the gross profit was ₹3,260.25 million.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.