Baazar Style Retail Limited IPO And Its GMP IPO Details
| Detail | Description |
|---|---|
| IPO Date | August 30, 2024 to September 3, 2024 |
| Listing Date | - |
| Face Value | ₹ 5 per share |
| Price Band | ₹ 370 to ₹ 389 per share |
| Lot Size | 38 Shares |
| Total Issue Size | 2,14,56,947 shares (aggregating up to ₹ 834.68 Cr) |
| Fresh Issue | 38,04,627 shares (aggregating up to ₹ 148.00 Cr) |
| Offer for Sale | 1,76,52,320 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 |
| Shareholding pre issue | 7,08,10,966 |
| Share holding post issue | 7,46,15,593 |
About Baazar Style Retail Limited IPO And Its GMP
Baazar Style Retail Limited is a value fashion retailer with a leadership position in terms of scale in the states of West Bengal and Odisha respectively in the organized value retail market. The Company was the fastest-growing value retailer between 2017 to 2023, in terms of both store count and revenue from operations, when compared to V2 Retail Limited and V-Mart Retail Limited (“Listed Value Retailers”).
They have the largest retail footprint in Eastern India when compared to the Listed Value Retailers in Fiscal 2023. As of December 31, 2023, they operated 153 stores spread across over 1.39 million square feet located in 140 cities. A majority of their stores are operated under the brand name ‘Style Bazaar’. The company has developed their brand ‘Style Bazaar’ over the years, through a wide range of products, which it believes has resulted in strong customer loyalty and recognition.
Book Running Lead Managers:
- •Kotak Mahindra Capital Company Limited
- •BofA Securities India Limited
- •Axis Capital Limited
- •Goldman Sachs (India) Securities Private Limited
- •SBI Capital Markets Limited
- •JM Financial Limited
- •IIFL Securities Ltd
Registrar: •Kfin Technologies Limited
Baazar Style Retail IPO Reservation
| Investor Category | Shares Offered | Maximum Allottee |
|---|---|---|
| Anchor Investor Shares Offere | 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 Anchor Investors Details
| 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 4, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 3, 2024 |
Company & Financials
Incorporated in June 2013, Bazaar Style Retail Limited is a fashion retailer in West Bengal and Odisha. The company offers apparel for men, women, boys, girls, and infants and general merchandise such as non-apparel and home furnishing. 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 of 13 personnel.
Objectives of Baazar Style Retail IPO
The company proposes to utilize the Net Proceeds towards funding the following objectives:
- 1. Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company.
- 2. General corporate purposes.
Baazar Style Retail IPO Review
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.
Baazar Style Retail Limited IPO And Its GMP Financial Information
Latest Revenue
982.83
₹ Crore
Profit After Tax
21.94
₹ Crore
Net Worth
212.56
₹ Crore
Total Borrowing
178.23
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2024 | 1,165.97 | 982.83 | 21.94 | 212.56 | 178.23 | ||||
| Amount in ₹ Crore | |||||||||
IPO Estimated Listing Return
Based on the IPO Price of ₹389 (highest price band), the latest uploaded Grey Market Premium (GMP) of ₹45 and a lot size of 38 shares.
Baazar Style Retail Limited IPO And Its GMP GMP TREND (DAILY UPDATES)
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 2024-09-05 | ₹389 | ₹45.0 (12%) | 2024-09-05 |
Baazar Style Retail Limited IPO And Its GMP Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 10.74% |
| ROCE | 18.39% |
| Debt/Equity | 0.76 |
| RoNW | 10.32% |
| P/BV | 12.78 |
| PAT Margin (%) | 2.23 |
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Competitive Strengths
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Baazar Style Retail Limited IPO And Its GMP IPO Timeline
| 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 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid 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 |