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Baazar Style Retail IPO is a book built issue of Rs 834.68 crores. The issue is a combination of fresh issue of 0.38 crore shares aggregating to Rs 148.00 crores and offer for sale of 1.77 crore shares aggregating to Rs 686.68 crores.
Baazar Style Retail IPO bidding started from August 30, 2024 and ended on September 3, 2024. The allotment for Baazar Style Retail IPO was finalized on Wednesday, September 4, 2024. The shares got listed on BSE, NSE on September 6, 2024.
Baazar Style Retail IPO price band is set at ₹370 to ₹389 per share. The minimum lot size for an application is 38 Shares. The minimum amount of investment required by retail investors is ₹14,782. The minimum lot size investment for sNII is 14 lots (532 shares), amounting to ₹206,948, and for bNII, it is 68 lots (2,584 shares), amounting to ₹1,005,176.
The issue includes a reservation of up to 28,248 shares for employees offered at a discount of Rs 35 to the issue price.
Axis Capital Limited, Intensive Fiscal Services Private Limited and Jm Financial Limited are the book running lead managers of the Baazar Style Retail IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Baazar Style Retail IPO RHP for detailed information.
| IPO Date | August 30, 2024 to September 3, 2024 |
| Listing Date | September 6, 2024 |
| Face Value | ₹5 per share |
| Price Band | ₹370 to ₹389 per share |
| Lot Size | 38 Shares |
| Total Issue Size | 21,456,947 shares (aggregating up to ₹834.68 Cr) |
| Fresh Issue | 3,804,627 shares (aggregating up to ₹148.00 Cr) |
| Offer for Sale | 17,652,320 shares of ₹5 (aggregating up to ₹686.68 Cr) |
| Employee Discount | Rs 35 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 70,810,966 |
| Share holding post issue | 74,615,593 |
Baazar Style Retail IPO offers 2,14,59,488 shares. 42,86,248 (19.97%) to QIB, 32,14,686 (14.98%) to NII, 75,00,934 (34.95%) to RII, 28,248 (0.13%) to employees and 64,29,372 (29.96%) to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 64,29,372 (29.96%) | NA |
| QIB Shares Offered | 42,86,248 (19.97%) | NA |
| NII (HNI) Shares Offered | 32,14,686 (14.98%) | |
| bNII > ₹10L | 21,43,124 (9.99%) | 4,028 |
| sNII < ₹10L | 10,71,562 (4.99%) | 2,014 |
| Retail Shares Offered | 75,00,934 (34.95%) | 1,97,393 |
| Employee Shares Offered | 28,248 (0.13%) | NA |
| Total Shares Offered | 2,14,59,488 (100%) |
Baazar Style Retail IPO raises Rs 250.10 crore from anchor investors. Baazar Style Retail IPO Anchor bid date is August 29, 2024. Baazar Style Retail IPO Anchor Investors list
| Bid Date | August 29, 2024 |
| Shares Offered | 6,429,372 |
| Anchor Portion Size (In Cr.) | 250.10 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 3, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 2, 2024 |
Baazar Style Retail IPO opens on August 30, 2024, and closes on September 3, 2024.
| IPO Open Date | Friday, August 30, 2024 |
| IPO Close Date | Tuesday, September 3, 2024 |
| Basis of Allotment | Wednesday, September 4, 2024 |
| Initiation of Refunds | Thursday, September 5, 2024 |
| Credit of Shares to Demat | Thursday, September 5, 2024 |
| Listing Date | Friday, September 6, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 3, 2024 |
Investors can bid for a minimum of 38 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 38 | ₹14,782 |
| Retail (Max) | 13 | 494 | ₹192,166 |
| S-HNI (Min) | 14 | 532 | ₹206,948 |
| S-HNI (Max) | 67 | 2,546 | ₹990,394 |
| B-HNI (Min) | 68 | 2,584 | ₹1,005,176 |
| Lot Size Calculator | |||
The Promoters of the company are Pradeep Kumar Agarwal, Rohit Kedia, Shreyans Surana, Bhagwan Prasad, Rajendra Kumar Gupta, Sabita Agarwal, Rajendra Kumar Gupta (HUF) and Sri Narsingh Infrastructure Private Limited.
| Share Holding Pre Issue | 55.03% |
| Share Holding Post Issue | 45.6% |
Incorporated in June 2013, Bazaar Style Retail Limited is a fashion retailer operating in West Bengal and Odisha. The company offers apparel for men, women, boys, girls, and infants and general merchandise such as non-apparels and home furnishing products.
The company focuses on providing a family-oriented shopping experience, offering quality products and striving to offer every Indian stylish merchandise at an affordable price.
As of March 31, 2024, the stores averaged 9,046 square feet and were staffed by trained employees to enhance customer experience.
The company operates in Odisha, Bihar, Assam, Jharkhand, Andhra Pradesh, Uttar Pradesh, Tripura, and Chhattisgarh.
As of March 31, 2024, the company has expanded across 9 states and operates 162 stores.
As of March 31, 2024, The company had an in-house marketing team consisting of 13 personnel.
The company has a strong designing and merchandising team of 57 personnel who have experience understanding and sensing the regional preferences of its target customers. They work to provide the customers with the latest market trends through their experience in the retail and textile industries.
| Period Ended | 31 Mar 2024 | |||||||||
| Assets | 1,165.97 | |||||||||
| Revenue | 982.83 | |||||||||
| Profit After Tax | 21.94 | |||||||||
| Net Worth | 212.56 | |||||||||
| Reserves and Surplus | 180.2 | |||||||||
| Total Borrowing | 178.23 | |||||||||
| Amount in ₹ Crore | ||||||||||
The market capitalization of Baazar Style Retail IPO is Rs 2902.55 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 10.74% |
| ROCE | 18.39% |
| Debt/Equity | 0.76 |
| RoNW | 10.32% |
| P/BV | 12.78 |
| PAT Margin (%) | 2.23 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 3.1 | 2.94 |
| P/E (x) | 125.54 | 132.28 |
The company proposes to utilize the Net Proceeds towards funding the following objects (collectively, referred to as the “Objects”):
[Dilip Davda] The company is emerging fashion retailer in north eastern region with 162 stores. After suffering a setback for FY22 following the Pandemic, it marked growth in its top and bottom lines with improved margins as it is following efficient cost control modes for its operations. Based on FY24 earnings, the issue appears exorbitantly priced. There is no harm in skipping this pricey bet. Read detail review...
The Baazar Style Retail IPO is subscribed 40.63 times on September 3, 2024 6:19:08 PM. The public issue subscribed 9.07 times in the retail category, 81.83 times in the QIB category, and 59.41 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 81.83 |
| NII | 59.41 |
| bNII (bids above ₹10L) | 69.27 |
| sNII (bids below ₹10L) | 39.68 |
| Retail | 9.07 |
| Employee | 35.08 |
| Total | 40.63 |
Total Application : 1,629,583 (8.26 times)
| Listing Date | September 6, 2024 |
| BSE Script Code | 544243 |
| NSE Symbol | STYLEBAAZA |
| ISIN | INE01FR01028 |
| Final Issue Price | ₹389 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹389.00 |
| ₹389.00 |
| ₹378.15 |
| ₹430.95 |
| ₹399.65 |
| NSE |
|---|
| ₹389.00 |
| ₹389.00 |
| ₹378.40 |
| ₹431.15 |
| ₹400.00 |
Baazar Style Retail Limited
P S Srijan Tech Park, DN-52, 12th Floor,
Street Number 11, DN Block, Sector V, Salt Lake
North 24 Parganas, Kolkata, - 700091
Phone: +91 3361256125
Email: secretarial@stylebaazar.com
Website: https://stylebaazar.in/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: baazarstyle.ipo@jmfl.com
Website: https://linkintime.co.in/initial_offer/public-issues.html
Baazar Style Retail IPO is a main-board IPO of 21,456,947 equity shares of the face value of ₹5 aggregating up to ₹834.68 Crores. The issue is priced at ₹370 to ₹389 per share. The minimum order quantity is 38 Shares.
The IPO opens on August 30, 2024, and closes on September 3, 2024.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Baazar Style Retail IPO using UPI as a payment gateway. Zerodha customers can apply in Baazar Style Retail IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Baazar Style Retail IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Baazar Style Retail IPO opens on August 30, 2024 and closes on September 3, 2024.
Baazar Style Retail IPO lot size is 38 Shares, and the minimum amount required is ₹14,782.
You can apply in Baazar Style Retail IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Baazar Style Retail IPO will be done on Wednesday, September 4, 2024, and the allotted shares will be credited to your demat account by Thursday, September 5, 2024. Check the Baazar Style Retail IPO allotment status.
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