Baazar Style Retail Limited IPO

Mainboard

Speciality Retail

Listed On: Sep 6, 2024 at ₹ 389.0(NSE)

₹ 14782 /38 Shares

Check Allotment

30 Aug, 2024

Open Date

03 Sep, 2024

Close Date

04 Sep, 2024

Allotment Date

06 Sep, 2024

Listing Date

Price Summary

Last Closing

322.10 (-17.2%)

52 Week High

392.00

52 Week Low

181.00

Last Update

20-Oct-2025 3:30 PM

Baazar Style Retail IPO Issue Details

Issue Price ₹370-389 per equity share
Face Value ₹5 Per Equity Share
Total Issue Size 2,14,56,947 shares(aggregating up to ₹834.68 crore)
Fresh Share 38,04,627 shares(aggregating up to ₹148 crore)
Offer For Sale 1,76,52,320 shares(aggregating up to ₹686.68 crore)
Listing at BSE, NSE
List Price 389.0(NSE)
Listing Date 2024-09-06
Lead Manager Axis Capital Ltd
Intensive Fiscal Services Pvt Ltd
JM Financial Ltd
Registrar Link Intime India Pvt Ltd

Market Lot Size

Investors can bid for a minimum of 38 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

Application	Lots	Shares	Amount
Retail (min)	1	38	₹14,782
Retail(max)	13	494	₹1,92,166

Baazar Style Retail IPO Reservation

Baazar Style Retail IPO offers total 2,14,59,488 shares. Out of which 42,86,248 (19.97%) allocated to QIB, 32,14,686 (14.98%) allocated to NII,75,00,934 (34.95%) allocated to RII, 28,248 (0.13%) allocated to employees and 64,29,372 (29.96%) allocated to Anchor investors.

Investor Category	Shares Offered	Maximum Allottees
Anchor Investor Shares Offered	64,29,372 (29.96%)
QIB Shares Offered	42,86,248 (19.97%)
NII (HNI) Shares Offered	32,14,686 (14.98%)
bNII < ₹10L	21,43,124 (9.99%)
sNII < ₹10L	10,71,562 (4.99%)
Retail Shares Offered	75,00,934 (34.95%)
Employee Shares Offered	28,248 (0.13%)
Total Shares Offered	2,14,59,488 (100%)

Baazar Style Retail IPO Documents

DRHP

RHP

ANCHOR

Baazar Style Retail IPO Details

Baazar Style Retail IPO is a book-built issue of ₹834.68 crores, The total issue size is ₹834.68 crores. The IPO of Baazar Style Retail is priced at ₹370-389 per equity share, which has a face value of ₹5 Per Equity Share each, IPO bidding starts from Aug 30, 2024 and ends on Sep 3, 2024. The allotment for Baazar Style Retail IPO will be finalized on Sep 4, 2024. Baazar Style Retail IPO will be listed on BSE, NSE, with a tentative listing date fixed as Sep 6, 2024. The company shall list its equity shares on the BSE, NSE. Link Intime India Pvt Ltd is the registrar of the issue.

Retail investors can bid for a minimum of 38 shares, extendable to 14,782. The book-running lead manager for the IPO is/are Axis Capital Ltd, Intensive Fiscal Services Pvt Ltd, JM Financial Ltd.

The total issue ₹834.68 crore, comprising a fresh issue of 38,04,627 shares ₹148 crore and having Offer for Sale (OFS) of 1,76,52,320 shares to mop up ₹686.68 crore.

The Baazar Style Retail IPO sets its price band at 370-389 for each share. A single application for Baazar Style Retail Limited IPO must contain at least 38 shares. Sentiment investors need to invest a minimum of 38 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,782

As on	QIB	NII bNII sNII	Retail	Total
Shares Offered / Reserved	4,286,248	3,214,686 2,143,124 1,071,562	7,500,934	15,030,116
Day 1 30-08-24 05:00 PM	0.70 x	0.47 0.39 x 0.64 x	0.82 x	0.72 x
Day 2 02-09-24 05:00 PM	0.84 x	11.61 12.09 x 10.64 x	3.74 x	4.63 x
Day 3 03-09-24 05:00 PM	81.83 x	59.40 69.27 x 39.67 x	9.04 x	40.62 x

Total No of Applications

16,28,423

Subscription on the basis of Applications

Retail:7.47x BHNI:13.98x SHNI:38.61x

Baazar Style Retail Valuations

EPS Pre IPO ₹3.10/-

EPS Post IPO ₹2.94/-

P/E Pre IPO 125.54

P/E Post IPO 132.28

ROE 10.74%

ROCE 18.39%

Debt/Equity 0.76

RoNW 10.32%

PAT Margin 2.23

Price to Book Value 12.78

Baazar Style Retail Company Financials

In Crs.

In Cr.

	31-Mar-24	31-Mar-23	31-Mar-23
Assets	1,165.97	N/A	N/A
Revenue	982.83	N/A	N/A
Profit After Tax	21.94	N/A	N/A
Net Worth	212.56	N/A	N/A
Reserves & Surplus	180.2	N/A	N/A
Total Borrowing	178.23	N/A	N/A

About Baazar Style Retail Company

Bazaar Style Retail Limited is a fashion retailer incorporated in June 2013, which operates in West Bengal and Odisha. The company sells men's, women's, boys', girls', and infant clothing and general merchandise including non-apparels and home furnishing products. The company's emphasis is on offering a family shopping experience and focuses on selling quality products, as well as the aim of giving every Indian fashionable merchandise at an affordable price. As of March 31, 2024, the stores were on average 9,046 square feet and staffed with well-trained employees for improved customer experience. The company is currently working in Odisha, Bihar, Assam, Jharkhand, Andhra Pradesh, Uttar Pradesh, Tripura, and Chhattisgarh. As of March 31, 2024, the company has grown to operate 162 stores in 9 states. As of March 31, 2024, The company had an in-house marketing team of 13 personnel. The company has a very strong designing and merchandising team of 57 personnel with 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.

Baazar Style Retail - Promoter(s)

Pradeep Kumar Agarwal

Rohit Kedia

Shreyans Surana

Bhagwan Prasad

Rajendra Kumar Gupta

Sabita Agarwal

Rajendra Kumar Gupta (HUF)

Sri Narsingh Infrastructure Private Limited

Pre Issue Share Holding : 55.03%

Post Issue Share Holding : 45.60%

Baazar Style Retail IPO - Issue Objectives

Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company.

General corporate purposes.

Baazar Style Retail IPO - Anchor Investors

Baazar Style Retail mobilises Rs 250 crore via anchor book.

Global marquee investors participated in the anchor book included HSBC Global Investment Funds, Natixis International Funds, Optimix Wholesale Global Emerging Markets Share Trust, Allianz Global Investors Fund, and Societe Generale.

HDFC Mutual Fund, Ashoka India Equity Investment Trust Plc, Whiteoak Capital, Volrado Venture Partners Fund, Bandhan Mutual Fund, Motilal Oswal Mutual Fund, Bajaj Allianz Life Insurance Company, SBI General Insurance Company, Helios Flexi Cap Fund, Trust Mutual Fund, Julius Baer India Equity Fund, Reliance General Insurance Company, and Verition Multi-Strategy Master Fund were other investors in the anchor book.

Baazar Style Retail IPO - Peers Comparison

Company Name	EPS (Basic)	EPS (Diluted)	NAV (per share) (Rs)	P/E (x)	RoNW (%)	P/BV Ratio	Financial statements
Baazar Style Retail Limited	3.14	3.14	30.43	125.54	10.32	N/A	Consolidated
V-mart Retail Ltd.	-48.93	-48.93	N/A	N/A	-12.98	N/A	Consolidated
V2 Retail Ltd.	8.04	8.04	79.42	138.88	10.12	N/A	Consolidated

Notes:

P/E Ratio for the listed industry peers has been computed based on the closing market price (August 22, 2024) of equity shares on BSE, divided by the EPS.
RoNW is calculated as net profit after taxation attributable to the company's equity shareholders divided by Net worth for that year. Net worth means the aggregate value of the paid-up share capital and all reserves created out of the profits and securities premium account and debit or credit balance of profit and loss account, after deducting the aggregate value of the accumulated losses, deferred expenditure and miscellaneous expenditure not written off, as per the audited balance sheet, but does not include reserves created out of revaluation of assets, write-back of depreciation and amalgamation.
Net Asset Value per equity share represents net worth as at the end of the financial year, divided by the number of equity shares outstanding at the end of the year.

Strength

Bazaar Style Retail Limited exhibited robust growth with a 42% CAGR in store count and 27.8% in revenue from operations (2017-2023). With 153 stores across nine states, they lead in West Bengal and Odisha.

Bazaar Style Retail Limited's cluster-based expansion and high street store focus, along with a diverse product range, have fueled rapid growth. Their commitment to quality and affordability caters to the aspiring middle class.

Bazaar Style Retail Limited meticulously evaluates new store locations, considering factors like population density, footfall potential, local economy, and competitive landscape. This ensures strategic placement and optimized performance of each store.

Weakness

Baazar Style Retail Limited faces intense competition in the fashion industry, risking market share loss amidst rapid shifts in consumer preferences and technology, with numerous competitors potentially outperforming.

Baazar Style Retail Limited faces the threat of brand dilution and reputational damage if third parties misuse its trademarks, potentially resulting in customer confusion and loss of business opportunities.

Baazar Style Retail Limited's concentration in eastern India exposes it to operational risks, as adverse developments in this region could significantly impact revenue and overall business performance, particularly in the apparel category.

Contact Details

Baazar Style Retail

P S Srijan Tech Park, DN-52, 12th Floor, Street Number 11, DN Block, Sector V, Salt Lake, North 24 Parganas, Kolkata, - 700091

+91 3361256125

secretarial@stylebaazar.com

https://stylebaazar.in/

Registrar Contact Details

Link Intime India Private Ltd

+91-22-4918 6270

baazarstyle.ipo@jmfl.com

https://linkintime.co.in/initial_offer/public-issues.html

Baazar Style Retail IPO - FAQs

Ans. Baazar Style Retail Limited IPO is a Mainboard IPO. The issue is priced at ₹370-389 per equity share. The minimum order quantity is 38 Shares. The IPO opens on Aug 30, 2024, and closes on Sep 3, 2024. Link Intime India Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Ans. The Baazar Style Retail Limited IPO opens on Aug 30, 2024 and closes on Sep 3, 2024.

Ans. You can track the real-time subscription numbers using the links below:

Ans. The size of Baazar Style Retail Limited IPO is Total ₹834.68 Cr : #Fresh Issue : 3,804,627 shares(aggregating up to ₹148.00 Cr) + #OFS : 17,652,320 shares of ₹5(aggregating up to ₹686.68 Cr).

Ans. The Baazar Style Retail Limited IPO price band is set between ₹370-389 per equity share.

Ans. To apply for Baazar Style Retail Limited IPO, follow the steps given below:

- Open the IPO Ji App or Website
- Find Baazar Style Retail Limited IPO in the List of IPOs
- Press Apply Button
- Select Your Demat Account
- Select Your Shares Quantity and Submit
- Track Your IPO Status

Ans. The share allotment date of Baazar Style Retail Limited IPO is Sep 4, 2024.

Ans. The Baazar Style Retail Limited IPO will be listed on Sep 6, 2024.

Ans. Follow the steps to check the Baazar Style Retail Limited IPO allotment status online.