Baazar Style Retail IPO GMP: The initial public offering (IPO) of Baazar Style Retail will take place on Friday, August 30, and run through Tuesday, September 3. The company hopes to raise ₹834.68 crore through this book-built issue, which combines an offer for sale (OFS) of 1.8 crore shares for ₹686.68 crore and a fresh issue of 38 lakh shares for ₹148 crore.
Axis Capital, Intensive Fiscal Services Private Limited, and JM Financial Limited are the issue’s book-running lead managers. The company Link Intime India Private Ltd. is the issuing registrar.
Baazar Style Retail IPO details
An offer for sale (OFS) of 1.8 crore shares for ₹686.68 crore and a fresh issue of 38 lakh shares for ₹148 crore comprise the Baazar Style Retail IPO. Through the offering, the company hopes to raise ₹834.68 crore.
The subscription period of Baazar Style Retail IPO for the issue will begin on Friday, August 30, and run through Tuesday, September 3. Share allocation is anticipated to be completed on Wednesday, September 4, and the shares could go public on the BSE and NSE on Friday, September 6.
Baazar Style Retail IPO Price Band
The set price range for the Baazar Style Retail IPO is ₹370 to ₹389 per share. Retail investors must invest a minimum of ₹14,782 and the minimum lot size for an application is 38 shares. Bids from individual investors may total up to ₹1,92,166 and be made for up to 13 lots.
The company’s objective is to utilize the net proceeds obtained from the offering to settle some outstanding debts, either fully or partially. The corporation intends to use a portion of the net proceeds for general purposes.
Business Overview of Baazar Style Retail
Value fashion retailer in organized value retail markets in West Bengal and Odisha, the firm claims to have the greatest retail footprint in eastern India among listed value retailers in FY24, citing the Technopak Report in its Red Herring Prospectus (RHP).
At the end of FY24, the firm operated 162 stores in 146 cities, covering an area of roughly 1.47 million square feet; most of these stores are under the Style Bazaar brand.
Baazar Style Retail Performance
The Baazar Style Retail reported consolidated revenue from operations of ₹9,728.82 million for FY24. The consolidated profit for the most recent financial year (FY24) was ₹219.42 million. The standalone revenue from operations for FY22 was ₹5,511.18 million, which increased to ₹7,879.03 million in FY23.
Baazar Style Retail IPO GMP Today
Market sources state that the last grey market premium (GMP) of the Baazar Style Retail IPO was ₹130. Taking into account the IPO’s upper price band of ₹389, the estimated listing price of Baazar Style Retail is ₹519, which represents a premium of 33.42 percent over the issue price. An IPO’s GMP is a measure of investors’ positive sentiment toward the issue.
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