Bookbuilding IPO | ₹835 Cr | Listed at BSE, NSE | Fri, Aug 30, 2024 - Tue, Sep 3, 2024
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 per share. The lot size for an application is 38. The minimum amount of investment required by an retail is ₹14,782 (38 shares) (based on upper price). 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 Open
Fri, Aug 30, 2024
IPO Close
Tue, Sep 3, 2024
Issue Price
₹389 per share
Market Cap (Pre-IPO)
₹2,902.55 Cr
| IPO Date | 30 Aug to 3 Sep, 2024 |
| Listed on | Fri, Sep 6, 2024 |
| Face Value | ₹5 per share |
| Price Band | ₹370 to ₹389 |
| Issue Price | ₹389 per share |
| Lot Size | 38 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹35.00 |
| Total Issue Size | 2,14,58,707 shares (agg. up to ₹835 Cr) |
| Fresh Issue | 38,06,387 shares (agg. up to ₹148 Cr) |
| Offer for Sale | 1,76,52,320 shares of ₹5 (agg. up to ₹687 Cr) |
| Share Holding Pre Issue | 7,08,10,966 shares |
| Share Holding Post Issue | 7,46,15,593 shares |
| BSE Script Code / NSE Symbol | 544243 / STYLEBAAZA |
| ISIN | INE01FR01028 |
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 (Ex- Anchor), 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 | Max 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%) |
Investors can bid for a minimum of 38 shares and in multiples thereof.
| 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 |
Baazar Style Retail IPO raises ₹250.10 crore from anchor investors. Baazar Style Retail IPO Anchor bid date is August 29, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Thu, Aug 29, 2024 |
| Shares Offered | 64,29,372 |
| Anchor Portion (₹ Cr.) | 250.10 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, Oct 3, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, Dec 2, 2024 |
| 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 |
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 | 180.20 |
| Total Borrowing | 178.23 |
| Amount in ₹ Crore | |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company; and | 146.00 |
| 2 | General corporate purposes | 28.99 |
| KPI | Mar 31, 2024 |
|---|---|
| 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 (₹) | 3.10 | 2.94 |
| P/E (x) | 125.54 | 132.28 |
| Promoter Holding | 55.03% | 45.56% |
| Market Cap | ₹2,902.55 Cr. |
The Baazar Style Retail IPO is subscribed 40.63 times on September 3, 2024 6:19:08 PM (Day 3). 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) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 81.83 | 42,86,248 | 35,07,22,938 |
| NII | 59.41 | 32,14,686 | 19,09,69,532 |
| bNII (bids above ₹10L) | 69.27 | 21,43,124 | 14,84,47,494 |
| sNII (bids below ₹10L) | 39.68 | 10,71,562 | 4,25,22,038 |
| Retail | 9.07 | 75,00,934 | 6,80,50,476 |
| Employee | 35.08 | 28,248 | 9,90,812 |
| Total | 40.63 | 1,50,30,116 | 61,07,33,758 |
Total Application : 16,29,583
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs and commissions (including underwriting commission, brokerage and selling commission, as applicable) | 27.09 |
| 2 | Commission/processing fee for SCSBs, Banker(s) to the Offer and fee payable to the Sponsor Bank for Bids made by RIIs and Eligible Employees. Brokerage, underwriting commission and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs(1)(2)(3)(4)(5) | 2.58 |
| 3 | Fees payable to Registrar to the Offer | |
| 4 | Fees payable to other advisors to the Offer (including statutory auditors^, industry expert^ and independent chartered accountant^) | 1.65 |
| 5 | Others: | |
| 6 | (i) Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses; | 4.73 |
| 7 | (ii) Printing and distribution of stationery | 1.39 |
| 8 | (iii) Fees payable to legal counsel; | 4.88 |
| 9 | (iv) Advertising and marketing expenses; and | 4.89 |
| 10 | (v) Miscellaneous. | 2.28 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹389.00 | ₹389.00 |
| Open | ₹389.00 | ₹389.00 |
| Low | ₹378.15 | ₹378.40 |
| High | ₹430.95 | ₹431.15 |
| Last Trade | ₹399.65 | ₹400.00 |
Lead Manager Reports
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 ₹835 Crores. The issue is priced at ₹389 per share. The minimum order quantity is 38.
The IPO opens on Fri, Aug 30, 2024, and closes on Tue, Sep 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 Fri, Aug 30, 2024 and closes on Tue, Sep 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 Thu, Sep 5, 2024. Check the Baazar Style Retail IPO allotment status.
The Baazar Style Retail IPO listing date is on Fri, Sep 6, 2024.
