Baazar Style Retail IPO Allotment Expected Today; Check Status Here
The Rekha Jhunjhunwala-backed firm, which operates Style Baazar, had set a price band of Rs 370–389 per share for the three-day issue which was oversubscribed more than 40 times on Tuesday.
The initial public offering of Rekha Jhunjhunwala-backed Baazar Style Retail Limited was subscribed 40.66 times at the end of day 3, led by demand from non-institutional buyers.
Institutional buyers: 81.83 times.
Non-institutional investors: 59.43 times.
Retail investors: 9.12 times.
Employee reserved: 35.36 times.
The allotment for Baazar Style Retail IPO is expected to be finalised on Wednesday, September 4. Investors who bid for the issue can check the Baazar Style Retail IPO allotment status on the BSE and the IPO registrar websites.
Link Intime India Private Ltd is the registrar for the issue.
How to check Baazar Style Retail IPO allotment status on Link Intime India
Visit the IPO allotment page on Link Intime India here.
Choose "Baazar Style Retail Limited" from the list of companies in the dropdown. (The name will be displayed once the share allocation is finalised)
Select either PAN, Application Number, DP/Client ID or Account Number/IFSC to verify your allotment status.
Enter the required information as per your selection above.
Click the "Submit" button to check your allotment status.
How to check Baazar Style Retail IPO allotment status on BSE
Select the issue type as 'Equity.'
Choose "Baazar Style Retail Limited" from the dropdown menu.
Enter your application number or PAN (Permanent Account Number).
Complete the 'Captcha' for verification.
Click on the "Search" button to view your allotment status.
Download or print the allotment status for your records.
Baazar Style Retail IPO Listing Date
Baazar Style Retail IPO will list on BSE and NSE with a tentative listing date set as Friday, September 6.
Baazar Style Retail Issue Details
Issue opens: Aug. 30.
Issue closes: Sept. 3.
Issue price: Rs 370–389 per share.
Total issue size: Rs 834.7 crore.
Fresh issue: Rs 148 crore.
Offer for sale: Rs 686.7 crore.
Bid lot: 38 shares.
Basis of Allotment: Sept. 4
Initiation of Refunds: Sept. 5
Credit of Shares to Demat: Sept. 5
Listing Date: Sept. 6
Listing at: BSE and NSE.
About Baazar Style Retail IPO
Rekha Jhunjhunwala-backed Baazar Style Retail Ltd.'s initial public offering opened for bidding on Friday and concluded its subscription on Tuesday. The company is looking to mop up funds worth Rs 834.7 crore. The IPO was subscribed 4.64 times on the second day, and 0.72 times or 72% on the first day. The IPO was subscribed 40.66 times on the final day.
The IPO comprises a fresh issue of 38 lakh shares, amounting to Rs 148 crore, and an offer for sale of 1.77 crore shares, aggregating to Rs 686.7 crore.
The company, which operates Style Baazar, raised Rs 250 crore from anchor investors a day ahead of its public offering, by allotting 64.3 lakh shares at Rs 384 apiece to 28 investors.
A price band of Rs 370–389 per share had been set for the three-day issue. The market value at the upper end of the price band is Rs 2,903 crore.
The minimum lot size was 38 shares. Retail investors had to invest a minimum of Rs 14,782. Small non-institutional investors and big non-institutional investors had minimum lot sizes of 14 lots and 68 lots, requiring investments of Rs 2.07 lakh and Rs 1.01 lakh, respectively.
About Baazar Style Retail Limited
Operating under the brand name Style Bazaar, the company is one of the leading players in the value retail market in West Bengal and Odisha. The company has market share of 3.03% and 2.22% in organised value retail markets in West Bengal and Odisha, respectively, it said in its prospectus.
The company, in which Rekha Jhunjhunwala owns a stake, started its journey in 2013 to cater to the needs of aspirational Indians in Tier II and Tier III cities. It has become the fastest-growing fashion retailer both in terms of store count and operations, Managing Director Shreyans Surana said. "We try to open stores in a state by creating a decent presence in the state," Surana said. "We try to understand the catchment and their festival requirements. Then, we plan the assortment."
Its other core and focus markets include Assam, Bihar, Jharkhand, Andhra Pradesh, Tripura, Uttar Pradesh and Chhattisgarh. As of March 31, 2024, it operated 162 stores spread across over 1.47 million square feet located in 146 cities.
The company intends to use the net proceeds for prepayment or repayment of all or part of certain outstanding borrowings, and general corporate purposes.
