Baazar Style Retail IPO Details: Baazar Style Retail’s IPO is set to open on August 30, 2024, and will close on September 3, 2024. This IPO follows a book-building process, with the company aiming to raise approximately ₹834.68 crores. This includes a fresh issue of ₹148 crores and an offer for sale of up to 17,652,320 equity shares, each with a face value of ₹5.
The IPO price band is set between ₹370 and ₹389 per share. The allocation is divided into 35% for retail investors, 50% for Qualified Institutional Buyers (QIBs), and 15% for High Net-Worth Individuals (HNIs). Baazar Style Retail’s shares are expected to list on the NSE and BSE on September 6, 2024, with the allotment date scheduled for September 4, 2024.
Financially, the company reported revenue of ₹982.83 crores in 2024, a significant increase from ₹794.39 crores in 2023. Additionally, the company turned a profit of ₹21.94 crores in 2024, recovering from a loss of ₹5.10 crores in 2023. Based on these financials, investors may find long-term potential in this IPO.
Promoters of Baazar Style Retail
The company is promoted by Pradeep Kumar Agarwal, Rohit Kedia, Shreyans Surana, Bhagwan Prasad, Rajendra Kumar Gupta, Rajendra Kumar Gupta (HUF), and Sri Narsingh Infrastructure Private Limited.
About Baazar Style Retail
Baazar Style Retail Limited, also known as Style Baazar, is a leading value fashion retailer with a strong presence in West Bengal and Odisha. It has the largest retail footprint in Eastern India and was the fastest-growing value retailer from 2017 to 2023. The company operates 153 stores across 140 cities, covering over 1.39 million square feet of retail space as of December 31, 2023. The ‘Style Bazaar’ brand has gained strong customer loyalty and recognition through its wide product range.
Baazar Style Retail offers a diverse selection of apparel and general merchandise catering to various age groups, including children and infants. The company primarily targets the middle class, especially the youth and young families who are fashion-conscious but budget-minded. With a focus on providing a family-friendly shopping experience, the company ensures high-quality products at affordable prices. Additionally, Baazar Style Retail is expanding into new markets by offering a variety of brands, apparel, and customized products. The company’s cluster-based expansion model enhances supply chain efficiency, brand visibility, marketing optimization, and human resource utilization.
Baazar Style Retail IPO Objectives:
The company proposes to utilize the Net Proceeds towards funding the following objects (collectively, referred to as the “Objects”):
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company and
- General corporate purposes.
Baazar Style Retail IPO Review (Apply or Not)
- Update soon
Baazar Style Retail IPO Date & Price Band Details:
| IPO Open Date: | August 30, 2024 |
| IPO Close Date: | September 3, 2024 |
| Face Value: | ₹5 Per Equity Share |
| IPO Price Band: | ₹370 to ₹389 Per Share |
| Issue Size: | Approx ₹834.68 Crores, 21,456,947 Equity Shares |
| Fresh Issue: | Approx ₹148 Crores, 3,804,627 Equity Shares |
| Offer for Sale: | Approx ₹686.68 Crores, 17,652,320 Equity Shares |
| Employee Discount: | ₹35 Per Share |
| Issue Type: | Book Built Issue |
| IPO Listing: | BSE & NSE |
| Retail Quota: | Not more than 35% |
| QIB Quota: | Not more than 50% |
| NII Quota: | Not more than 15% |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
| Anchor Investors List: | Click Here |
Baazar Style Retail IPO Lot Size:
The minimum market lot for the Baazar Style Retail IPO is set at 38 shares, requiring an application amount of ₹14,782. Retail investors have the option to apply for up to 13 lots, which totals 494 shares, with an investment amount of ₹192,166.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 38 | ₹14,782 |
| Retail Maximum | 13 | 494 | ₹192,166 |
| S-HNI Minimum | 14 | 532 | ₹206,948 |
| B-HNI Minimum | 68 | 2,584 | ₹1,005,176 |
Baazar Style Retail IPO Timeline:
The Baazar Style Retail IPO opens on August 30 and closes on September 3. The allotment of shares will be finalized on September 4, with the IPO listing scheduled for September 6.
| IPO Open Date: | August 30, 2024 |
| IPO Close Date: | September 3, 2024 |
| Basis of Allotment: | September 4, 2024 |
| Refunds: | September 5, 2024 |
| Credit to Demat Account: | September 5, 2024 |
| IPO Listing Date: | September 6, 2024 |
Baazar Style Retail IPO GMP Today:
The latest Grey Market Premium (GMP) for the Baazar Style Retail IPO is ₹141. Given the upper price band of ₹389, the estimated listing price is projected to be around ₹530 per share (cap price + today’s GMP). This suggests an expected gain of approximately 36.25% per share.
Baazar Style Retail Company Financial Report
The company reported revenue of ₹982.83 crores in 2024 against ₹794.39 crore in 2023. The company reported profit of ₹21.94 crores in 2024 against loss of ₹5.10 crores in 2023.
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax | Assets |
| 2022 | ₹561.14 | ₹571.19 | ₹8.01 | ₹7,54.20 |
| 2023 | ₹794.39 | ₹788.98 | ₹5.10 | ₹8,67.11 |
| 2024 | ₹982.83 | ₹953.61 | ₹21.94 | ₹11,65.97 |
Baazar Style Retail IPO Valuation – FY2024
Check Baazar Style Retail IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 10.74% |
| ROCE: | 18.39% |
| EBITDA Margin: | 14.61% |
| PAT Margin: | 2.23% |
| Debt to equity ratio: | 0.76 |
| Earning Per Share (EPS): | ₹3.14 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 10.32% |
| Net Asset Value (NAV): | ₹30.43 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| V-Mart Retail Limited | -48.93 | NA | -12.98 | NA | – Cr. |
| V2 Retail Limited | 8.04 | 138.88 | 10.12 | 79.42 | – Cr. |
Baazar Style Retail IPO Registrar
Link Intime India Private Ltd
Phone: +91 810 811 4949
Email: baazarstyle.ipo@linkintime.co.in
Website: https://linkintime.co.in/
IPO Lead Managers aka Merchant Bankers
- Axis Capital Limited
- Intensive Fiscal Services Private Limited
- JM Financial Limited
Company Address
Baazar Style Retail Limited (Style Baazar)
P S Srijan Tech Park, DN-52, 12th Floor,
Street Number 11, DN Block, Sector V, Salt Lake,
North 24 Parganas, Kolkata, – 700 091, West Bengal
Phone: (+91 33) 6125 6125
Email: secretarial@stylebaazar.com
Website: www.stylebaazar.in
Baazar Style Retail IPO FAQs
1. What are the Baazar Style Retail IPO dates?
- The IPO opens on August 30, 2024, and closes on September 3, 2024.
2. What is the price band for the Baazar Style Retail IPO?
- The price band for the IPO is set between ₹370 and ₹389 per share.
3. How many shares can a retail investor apply for?
- Retail investors can apply for a minimum of 38 shares (1 lot), up to a maximum of 494 shares (13 lots).
4. What is the minimum investment required for the Baazar Style Retail IPO?
- The minimum investment required is ₹14,782 for 38 shares.
5. What is the maximum investment allowed for retail investors?
- Retail investors can invest up to ₹192,166, which allows them to apply for 13 lots (494 shares).
6. When will the allotment of Baazar Style Retail IPO shares be finalized?
- The share allotment will be finalized on September 4, 2024.
7. On which stock exchanges will Baazar Style Retail be listed?
- Baazar Style Retail will be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
8. When is the Baazar Style Retail IPO listing date?
- The IPO is scheduled to be listed on September 6, 2024.
9. What is the Grey Market Premium (GMP) for Baazar Style Retail IPO?
- As of August 27, 2024, the latest GMP is ₹141.
10. What is the estimated listing price of Baazar Style Retail shares?
- Based on the current GMP, the estimated listing price is around ₹530 per share.
11. What is the expected percentage gain from the Baazar Style Retail IPO?
- The expected gain is approximately 36.25% per share based on the current GMP and the upper price band.
12. Who are the promoters of Baazar Style Retail?
- The promoters include Pradeep Kumar Agarwal, Rohit Kedia, Shreyans Surana, Bhagwan Prasad, Rajendra Kumar Gupta, Rajendra Kumar Gupta (HUF), and Sri Narsingh Infrastructure Private Limited.
13. What is the purpose of the Baazar Style Retail IPO?
- The IPO aims to raise funds for various purposes, including repayment of debt, funding capital expenditure, and general corporate purposes.
14. Can I apply for the Baazar Style Retail IPO online?
- Yes, you can apply for the IPO online through your bank’s ASBA (Application Supported by Blocked Amount) service or via a trading platform.
15. Is the Baazar Style Retail IPO a good investment?
The company’s financials and growth prospects indicate potential for long-term investors. However, as with any investment, it is advisable to review the prospectus and consider your own risk tolerance before applying.
