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Baazar Style Retail IPO is a book build issue of ₹834.68 crores. The issue is a combination of fresh issue of 0.38 crore shares aggregating to ₹148.06 crores and offer for sale of 1.77 crore shares aggregating to ₹686.62 crores.
Baazar Style Retail IPO bidding started from Aug 30, 2024 and ended on Sep 3, 2024. The allotment for Baazar Style Retail IPO was finalized on Sep 4, 2024. The shares got listed on BSE, NSE on Sep 6, 2024.
Baazar Style Retail IPO price band is set at ₹389.00 per share . The lot size for an application is 38. The minimum amount of investment required by an retail is ₹14,060 (38 shares). The lot size investment for sNII is 14 lots (532 shares), amounting to ₹2,06,948, and for bNII, it is 68 lots (2,584 shares), amounting to ₹10,05,176.
The issue includes a reservation of up to 28,248 shares for employees offered at a discount of ₹35.00 to the issue price.
Axis Capital Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of 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 |
| Issue Price Band | ₹370 to ₹389 per share |
| Issue Price Final | ₹389 per share |
| Lot Size | 38 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 2,14,58,707 shares (aggregating up to ₹834.68 Cr) |
| Fresh Issue | 38,06,387 shares (aggregating up to ₹148.06 Cr) |
| Offer for Sale | 1,76,52,320 shares of ₹5 (aggregating up to ₹686.62 Cr) |
| Employee Discount | ₹35.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 7,08,10,966 shares |
| Share Holding Post Issue | 7,46,15,593 shares |
Baazar Style Retail IPO offers total 2,14,59,488 shares. Out of which 1,07,15,620 (49.93%) allocated to QIB, 42,86,248 (19.97%) allocated to QIB, 32,14,686 (14.98%) allocated to NII, 75,00,934 (34.95%) allocated to RII and 64,29,372 (29.96%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 1,07,15,620 (49.93%) | NA |
| − Anchor Investor Shares Offered | 64,29,372 (29.96%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 42,86,248 (19.97%) | NA |
| NII (HNI) Shares Offered | 32,14,686 (14.98%) | NA |
| − 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 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Baazar Style Retail IPO raises ₹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 | 64,29,372 |
| 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 | Fri, Aug 30, 2024 |
| IPO Close Date | Tue, Sep 3, 2024 |
| Tentative Allotment | Wed, Sep 4, 2024 |
| Initiation of Refunds | Thu, Sep 5, 2024 |
| Credit of Shares to Demat | Thu, Sep 5, 2024 |
| Tentative Listing Date | Fri, Sep 6, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Sep 3, 2024 |
Investors can bid for a minimum of 38 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 38 | ₹14,782 |
| Retail (Max) | 13 | 494 | ₹1,92,166 |
| S-HNI (Min) | 14 | 532 | ₹2,06,948 |
| S-HNI (Max) | 67 | 2,546 | ₹9,90,394 |
| B-HNI (Min) | 68 | 2,584 | ₹10,05,176 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 |
| Total Income | 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 ₹2902.55 Cr.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| ROE | 10.74% |
| ROCE | 18.39% |
| Debt/Equity | 0.76 |
| RoNW | 10.32% |
| PAT Margin | 2.23% |
| Price to Book Value | 12.78 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 3.10 | 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...
| Listing Date | September 6, 2024 |
| BSE Script Code | 544243 |
| NSE Symbol | STYLEBAAZA |
| ISIN | INE01FR01028 |
| Final Issue Price | ₹389 per share |
| BSE Listing Group | B |
Baazar Style Retail Ltd.
P S Srijan Tech Park, DN-52, 12th Floor,
Street Number 11, DN Block, Sector V, Salt Lake
North 24 Parganas, Kolkata, - 700091
Kolkata, West Bengal
Phone: +91 3361256125
Email: secretarial@stylebaazar.com
Website: https://stylebaazar.in/
MUFG Intime India Pvt.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 2,14,58,707 equity shares of the face value of ₹5 aggregating up to ₹834.68 Crores. The issue is priced at ₹389 per share. The minimum order quantity is 38.
The IPO opens on August 30, 2024, and closes on September 3, 2024.
MUFG Intime India Pvt.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, and the minimum amount required for application is ₹14,782.
You can apply in Baazar Style Retail IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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.
The Baazar Style Retail IPO listing date is on Friday, September 6, 2024.
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