Aug 30, 2024
By: Sourabh Jain
Credit: Baazar Style Retail
Kolkata-based Baazar Style Retail’s initial public offering (IPO) is now open and will close on Tuesday, September 3.
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Rekha Jhunjhunwala-backed Baazar Style Retail has fixed a price band of ₹370-₹389 per share for its public issue.
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Baazar Style Retail is a Kolkata-based fashion retailer that sells apparel for men, women, boys and girls under the Style Bazaar brand. It also sells home furnishing products.
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Baazar Style Retail is looking to raise ₹834.68 crore from the current IPO. This includes a fresh issue of ₹148 crore and an offer for sale (OFS) component of ₹686.68 crore.
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Investors can bid for a minimum of 38 shares and in multiples of 38 shares thereafter.
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The company, founded in 2013 currently has 162 stores across 146 cities in the country.
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The company’s income was ₹982.82 crore in FY24 with a profit of ₹21.94 crore.
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The company operates in a highly competitive segment, which may affect its margins. The company is also prone to economic downturns and any disruption could adversely affect it.
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The funds raised from the fresh issue will be used for repayment of the company’s borrowings and general corporate purposes.
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