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SUMMARY
Baazar Style Retail is set to launch its IPO on 30 August and the subscription window will open until 3 September. The company aims to raise ₹834.68 crore through this public offering. The price band for the Baazar Style Retail IPO has been fixed between ₹370 – ₹389. The IPO is expected to list on the NSE, BSE platforms on 6 September.
Baazar Style Retail IPO About
Bazaar Style Retail founded in June 2013, is a fashion retailer based in West Bengal and Odisha. The company sells clothing for men, women, children and infants as well as home furnishings and other non clothing items. Their goal is to provide a family friendly shopping experience, offering stylish products at affordable prices. By March 31, 2024 they have grown to 162 stores across 9 states including Odisha, Bihar, Assam, Jharkhand, Andhra Pradesh, Uttar Pradesh, Tripura and Chhattisgarh.
Baazar Style Retail IPO Highlights
- Bazaar Style’s IPO is valued at ₹834.68 crores and the price band is set between ₹370 to ₹389.
- The IPO Includes 0.38 crore fresh shares raising ₹148.00 crores and 1.77 crore existing shares will be sold via OFS, raising ₹686.68 crores.
- Baazar Style Retail IPO will open on 30 August 2024 and close on 3 September 2024. Share allotment is expected on 4 September 2024 and Baazar Style Retail Shares are set to list on BSE and NSE on 6 September 2024.
- The promoters currently hold 55.03% of the company. After the IPO listing, their stake will be reduced.
- The company plans to use the net proceeds for Prepayment or repayment of borrowings and general corporate purposes. Link Intime India will be the registrar for Baazar Style IPO.
Baazar Style Retail IPO GMP
The last grey market price for Baazar Style Retail IPO was ₹141 on 28 August 2024. With an upper price band of ₹389, the estimated listing price is around ₹530 which suggests a gain of 36.25% per share.
Stay tuned with Trade Target for daily updates on Baazar Style Retail IPO GMP and expected listing price.
- Date: 30 – August – 2024
- Baazar Style Retail GMP: ₹126 (32.39%)
- Date: 29 – August – 2024
- Baazar Style Retail GMP: ₹130 (33.42%)
- Date: 28 – August – 2024
- Baazar Style Retail GMP: ₹125 (32.13%)
- Date: 27 – August – 2024
- Baazar Style Retail GMP: ₹141 (36.25%)
How can one apply for Baazar Style Retail IPO?
Retail investors can apply for minimum of 1 lot, which includes 38 shares costing ₹14,782. The maximum investment allowed for retail investors is 13 lots which totals 494 shares and costs ₹1,92,166.
For Small High Net Worth Individuals or S-HNIs,minimum application is for 14 lots (532 shares) costing ₹2,06,948, while maximum is 67 lots (2,546 shares) costing ₹9,90,394.
For Big High Net Worth Individuals or B-HNIs,minimum investment starts from 68 lots, amounting to 2,584 shares and costing ₹10,05,176.
Below is table summarizing the lot sizes and required amounts for each investor category:
Baazar Style Retail IPO Financial
Baazar Style Retail’s financial performance for year ending March 31, 2024 reflects strong growth in assets, revenue and profitability along with stronger net worth compared to previous years. While company has successfully turned around from a loss to a solid profit, rise in borrowings indicates a need for careful financial management to sustain this positive momentum and support future growth.
Baazar Style Retail IPO Quota allocation
- QIB Investors: 50% of the net issue
- Retail Investors: 35% of the net issue
- NII (HNI) Investors: 15% of the net issue
Listing Date of Baazar Style Retail IPO
- Subscription Period: 30 August to 03 September
- Basis of Allotment Finalization: 4 September 2024
- Initiation of Refunds: 5 September 2024
- Demat Credits: 5 September 2024
- Listing Date: 6 September 2024
- Listing on: NSE, BSE
