August 20, 2024
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Baazar Style Retail IPO, backed by Rekha Jhunjhunwala, is anticipated to launch this week
Baazar Style Retail, a value fashion retailer backed by Rekha Jhunjhunwala, is gearing up for its highly anticipated initial public offering (IPO) this week.
The Kolkata-based retailer filed its draft red herring prospectus (DRHP) in March, revealing a bold IPO plan. The offering includes a fresh equity issue valued at ₹185 crore and an offer for sale (OFS) of up to 1.68 crore shares from promoter group entities and other shareholders. Additionally, the IPO features a reserved portion for eligible employee subscriptions.
Among the key sellers in the OFS are Rekha Rakesh Jhunjhunwala, who will offload 27.23 lakh shares; Intensive Softshare Private Limited, with 22.40 lakh shares; and Intensive Finance Private Limited, which will divest 14.87 lakh shares, among others.
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