Baazar Style Retail IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Sep 03, 2024Let’s have a detailed review of the company and analytics of the Baazar Style Retail IPO release date, IPO offer price, subscription, Baazar Style Retail Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 5 |
| Price Band | Rs 370 to Rs 389 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 38 Shares |
| Listing Date | September 6, 2024 |
| Offer for Sale | Rs 686.68 Cr. |
| Fresh Issue | Rs 148.00 Cr. |
| IPO Size | Rs 834.68 Cr. |
| Tick Size | 1 |
Baazar Style Retail IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – Baazar Style Retail Share Price |
Baazar Style Retail IPO – Summary
They are a value fashion retailer with a market share of 3.03% and 2.22%, respectively in organized value retail markets in the states of West Bengal and Odisha, respectively as per The Technopak Report on page 217.
Their Company was the fastest growing value retailer between 2017 to 2024, in terms of both store count and revenue from operations, when compared to V2 Retail Limited and V-Mart Retail Limited (“Listed Value Retailers”) as per The Technopak Report on pages 218 and 221, respectively.
The Promoter of this company is PRADEEP KUMAR AGARWAL, ROHIT KEDIA, SHREYANS SURANA, BHAGWAN PRASAD, SABITA AGARWAL, RAJENDRA KUMAR GUPTA, RAJENDRA KUMAR GUPTA (HUF) AND SRI NARSINGH INFRASTRUCTURE PRIVATE LIMITED. The lead manager of the issue is Axis Capital Limited, Intensive Fiscal Services Private Limited and JM Financial Limited, and the Registrar of this issue is Link Intime India Private Limited.
Baazar Style Retail IPO Date
The opening and closing dates of Baazar Style Retail IPO are August 30, 2024, and September 3, 2024, respectively.
Baazar Style Retail IPO Subscription
| Day / Date | QIB | NII | RII | Emp | Total Subscription |
| 1st Day – 30th Aug | 0.70x | 0.47x | 0.85x | 6.26x | 0.73x |
| 2nd Day – 2nd Sep | 0.84x | 11.66x | 3.81x | 20.94x | 4.68x |
| 3rd Day – 3rd Sep | 81.83x | 59.41x | 9.07x | 35.08x | 40.63x |
| Shares Offered or Net Issue | 4,286,248 | 3,214,686 | 7,500,934 | 28,248 | 21,459,488 |
The shares subscribed by the public will be updated here.
Baazar Style Retail IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Baazar Style Retail Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | September 4, 2024 |
| Refunds Initiation | September 5, 2024 |
| Credit of Shares to Demat Account | September 5, 2024 |
| Share Listing Date | September 6, 2024 |
Baazar Style Retail IPO Price Band
The face value of each share is Rs.5, but the price band of the IPO is Rs 370 to Rs 389
Baazar Style Retail IPO Equity Size
This Initial Public Issue of 21,456,947 Equity Shares of Rs.5 each for cash at a price of Rs 370 to Rs 389 per equity share aggregating to Rs.834.68 Cr.
Baazar Style Retail IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 3,804,627 Equity Shares of Rs.5/ each.
Issue Size: 21,456,947 Equity Shares of Rs.5 each, aggregating to Rs.834.68 Cr.
Open Free Demat Account Now!
Baazar Style Retail IPO – Live Performance
The listing date of this IPO is September 6, 2024. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Baazar Style Retail Share Price |
Baazar Style Retail IPO Grey Market Premium
The Baazar Style Retail Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X.
Baazar Style Retail IPO – Company Overview
They have the largest retail footprint in Eastern India when compared to the Listed Value Retailers in Fiscal 2024 as per The Technopak Report on page 223. As on March 31, 2024, they operated 162 stores spread across over 1.47 million square feet located in 146 cities.
A majority of their stores are operated under the brand name ‘Style Bazaar’. They have developed their brand ‘Style Bazaar’ over the years, through a wide range of products, which they believe has resulted in strong customer loyalty and recognition.
Their offerings are bifurcated under the apparel and general merchandise verticals. Within the apparels vertical, they offer garments for men, women, boys, girls and infants, whereas their general merchandise offerings include both non-apparel and home furnishing products.
Their target customer segment is the aspiring middle class comprising of households with an average annual income of less than 5,000 USD, comprising of fashion-conscious, value and quality-seeking youth and young families, which forms the bulk of purchasing power of the Indian population as per The Technopak Report on page 208.
Baazar Style Retail IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Million) | |||
| 31-Mar-24 | Mar-23 | 31-Mar-22 | |
| Total Assets | 11,659.66 | 8,671.09 | 7,541.96 |
| *Total Revenue | 9,828.26 | 7,943.89 | 5,611.39 |
| Total Expense | 9,536.07 | 7,889.82 | 5,711.88 |
| Profit After Tax | 219.42 | 51.02 | (80.07) |
Earnings per Equity Share (in Million)
| 31-Mar-24 | Mar-23 | 31-Mar-22 | |
| Basic & Diluted | 3.14 | 0.76 | (1.31) |
Further, their PAT for the period ended on March 31, 2024, March 31, 2023, and March 31, 2022, were Rs. 219.42 Million, Rs. 51.02 Million and Rs. (80.07) Million respectively.
Baazar Style Retail IPO – Promoters
The Promoter of this company is:
- PRADEEP KUMAR AGARWAL,
- ROHIT KEDIA,
- SHREYANS SURANA,
- BHAGWAN PRASAD,
- SABITA AGARWAL,
- RAJENDRA KUMAR GUPTA,
- RAJENDRA KUMAR GUPTA (HUF)
- SRI NARSINGH INFRASTRUCTURE PRIVATE LIMITED
List of Related Parties (Key Managerial Personnel)
- Pradeep Kumar Agarwal, Chairman and Whole-time Director
- Rohit Kedia, Whole-time Director
- Shreyans Surana, Managing Director
- Bhagwan Prasad, Whole-time Director
Baazar Style Retail IPO – Promoters Holding
- Pre-Issue Share Holding – 55.03%
- Post-Issue Share Holding – %
Baazar Style Retail IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 21,456,947 Equity Shares aggregating up to Rs.834.68 Cr. |
| of which: | |
| Issue Reserved for the Market Makers | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Net Issue to the Public | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Of which: | |
| Retail Investors Portion | Not less than [●] Equity Shares |
| Other than Retail Individual Investors | Not more than [●] Equity Shares |
| Equity Shares outstanding prior to the Issue | 70,810,966 Equity Shares |
| Equity Shares outstanding after the Issue | X Equity Shares |
Baazar Style Retail IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by their Company; and
- General corporate purposes.
Baazar Style Retail IPO – Business Strategy
- Expand profit margins and increase revenue contribution from their private labels.
- Strengthen their market position by increasing penetration in existing clusters, and expand their footprint in the Focus Markets
- Continue to invest in their technology adoption initiatives, data analytical capabilities and implementation of an omni-channel retailing business model
- Continue to invest in strengthening their supply chain management and human capital to further reduce their operating costs
Baazar Style Retail IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- One of the fastest growing value retailers in eastern India with a market share of 3.03% and 2.22% in the states of West Bengal and Odisha, respectively in organized value retail market;
- Accelerated store expansion through a cluster-based approach;
- Strong understanding of customer preferences to offer a comprehensive, targeted and affordable product mix along with their private label brands leading to customer loyalty;
- High operational efficiency and lean cost structure due to a strong focus on business processes and automation;
- Targeted marketing and promotion activities enabling increasing brand salience and garnering customer loyalty;
- Experienced promoters and a strong management team with a proven track record, backed by investors; and
- Strong financial track record of growth.
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-24 | 3.14 | 10.32 | 30.43 |
| 31-Mar-23 | 0.76 | 2.67 | – |
| Mar-22 | (1.31) | (5.67) | – |
Baazar Style Retail IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Millions) | |
| Baazar Style Retail Limited | 5 | [●] | 3.14 | 10.32 | 9,828.26 |
| Listed Peers | |||||
| V-Mart Retail Limited | 10 | NA | (48.93) | (12.98) | – |
| V2 Retail Limited | 10 | 138.88 | 8.04 | 10.12 | – |
Baazar Style Retail IPO Lead Managers
| Lead Managers |
|
Axis Capital Limited
Intensive Fiscal Services Private Limited
JM Financial Limited
|
Baazar Style Retail IPO Registrar to offer
| Registrar to the Offer |
| Link Intime India Private Limited C-101, 1st Floor, 247 Park, Lal Bahadur Shastri Marg, Vikhroli (West) Mumbai 400 083 Maharashtra, India Tel: +91 810 811 4949 E-mail: baazarstyle.ipo@linkintime.co.in Investor grievance E-mail: baazarstyle.ipo@linkintime.co.in Website: www.linkintime.co.in Contact person: Shanti Gopalkrishnan SEBI Registration No: INR000004058 |
Baazar Style Retail IPO – Other Details
- Statutory Auditor – Singhi & Co, Chartered Accountants
- Legal Counsel to the Company – NA
- Bankers to the Company – NA
Baazar Style Retail IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
Subscribe to Baazar Style Retail IPO
Baazar Style Retail Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Baazar Style IPO Review FAQs
Check out various FAQs related to Baazar Style IPO:
What is the Issue Size of Baazar Style IPO?
The Company is making an initial public offer of 21,456,947 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Baazar Style Retail IPO?
The price band for this particular IPO ranges between Rs 370 to Rs 389. As far as the face value of the share is concerned, it is Rs. 5 per share.
What is the Baazar Style IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on August 30, 2024, while the closing date is set at September 3, 2024.
What is the Baazar Style Retail IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on September 4, 2024, refund initiation is on September 5, 2024, credit of shares is on September 5, 2024, and share listing date is on September 6, 2024.
What is the Baazar Style IPO Listing Date?
Shares of this company shall be listed in the exchanges on September 6, 2024. The date, when the listing would be done, is stagnant on September 6, 2024.
Who is the Registrar of Baazar Style Retail IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Link Intime India Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Baazar Style IPO?
Here are the promoters of this IPO – PRADEEP KUMAR AGARWAL, ROHIT KEDIA, SHREYANS SURANA, BHAGWAN PRASAD, SABITA AGARWAL, RAJENDRA KUMAR GUPTA, RAJENDRA KUMAR GUPTA (HUF) AND SRI NARSINGH INFRASTRUCTURE PRIVATE LIMITED. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Baazar Style IPO?
They have obtained the GMP of this IPO and it is Rs NA. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is Baazar Style Retail IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Baazar Style Retail Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2024 in Million is 219.42, 2023 is 51.02, and 2022 is (80.07).
Calculate your return on investment!
Asset Class
ROI (Rs.)
Profit (Rs.)
Profit (%)
IPO
Equity
Savings
Real Estate
Gold
Bonds
Fixed Deposit
Mutual Fund
Featured Topics