September 6, 2024
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Baazar Style Retail IPO GMP grey market premium, review, Subscription, allotment, listing estimate @ Chanakyanipothi.com,
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What is the latest news relating to Baazar Style Retail IPO?
On the second day of subscription, the IPO is subscribed 4.68 times.
What is the latest GMP of Baazar Style Retail IPO?
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What is the subscription status of Baazar Style Retail IPO?
Baazar Style IPO Subscriptions (Closed)Price Rs. 389 Lot 38 shares, Rs. 584.67 Crore | |||||
| QIB | B HNI X | S HNI X | NII X | RII X | Total X |
| 81.83 | 69.27 | 39.68 | 59.41 | 9.07 | 40.63 |
| Applications: 1629583 / (8.26x) Amount wise Bids recd. Rs.23755.14 Crore | |||||
Who are the promoter of Baazar Style Retail IPO?
OUR PROMOTERS ARE PRADEEP KUMAR AGARWAL, ROHIT KEDIA, SHREYANS SURANA, BHAGWAN PRASAD, RAJENDRA KUMAR GUPTA, RAJENDRA KUMAR GUPTA (HUF) AND SRI NARSINGH INFRASTRUCTURE PRIVATE LIMITED
What are the Objects of Baazar Style Retail IPO?
The Offer comprises the Fresh Issue and the Offer for Sale.
The Company proposes to utilize the Net Proceeds towards funding the following objects
1.Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company; and
2.General corporate purposes
What is the business of Baazar Style Retail?
As a leading value fashion retailer, Style Baazar hold a prominent position in the organized retail market across West Bengal and Odisha. From 2017 to 2023, the company emerged as the fastest-growing value retailer, surpassing competitors like V2 Retail Limited and V-Mart Retail Limited in both store count and revenue. In Fiscal 2023, it boasted the largest retail footprint in Eastern India among listed value retailers.
By December 31, 2023, the company operated 153 stores spanning over 1.39 million square feet across 140 cities. Most of these stores are branded as ‘Style Bazaar.’ Its brand has gained significant recognition and customer loyalty over the years through its diverse product range. It categorizes its offerings into apparel and general merchandise. In the apparel segment, it provides garments for men, women, boys, girls, and infants. Its general merchandise includes non-apparel items and home furnishings.
Style Baazar targets the aspiring middle class, specifically households with an annual income under USD 5,000. This demographic consists of fashion-conscious, value-seeking youth and young families, who represent a significant portion of India’s purchasing power. It emphasizes delivering a family-friendly shopping experience, combining quality products with affordability. By catering to the entire family with its diverse product portfolio, it positions ourselves as a one-stop shop for stylish and reasonably priced merchandise.
Its product portfolio has contributed to a robust Average Transaction Value. For the nine months ending December 31, 2023, it stood at Rs.1,044.70, up from Rs.1,063.79 for the same period in 2022. Its Average Transaction Value of Rs. 1,040.88 in Fiscal 2023 was the highest compared to other listed value retailers in India.
Its private label brands, where it has a greater control over quality and product assortment, have contributed 36.78%, 31.64%, 31.43%, 24.72% and 16.29% of its total revenue from operations for the nine months period ended December 31, 2023, December 31, 2022, Fiscals 2023, 2022 and 2021, respectively.
As of December 31, 2023, its stores had an average size of 9,114 square feet with trained staff to enhance customer experience. Its Sales Per Square Feet for the Fiscal 2023 was Rs. 7,445
For more information, click www.stylebaazar.in
Baazar Style Retail IPO GMP grey market premium, review, Subscription, allotment, listing
Baazar Style Retail IPO Details | |
| IPO opens on | 30 August 2024 |
| IPO closes on | 3 September 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 21456947 Shares / Rs 834.67 Crore |
| * Fresh Issue | 3804627 Shares / Rs 148 Crore |
| * Offer for Sale | 17,652,320 Shares / Rs 686.67 Crore |
| Face Value per share: | Rs. 5 |
| Price Band | Rs.370-389 |
| Retail Discount | Rs 0 per share |
| Employee discount | Rs. 35 per share |
| Retail Lot Size | 38 Shares |
| Listing will at | BSE, NSE |
| Shares offered in Baazar Style Retail IPO? | Shares | Rs. in Crore |
| QIB (50 %) | – | 416.84 |
| NII (15 %) | – | 125.20 |
| RII (35 %) | 7500934 | 292.13 |
| Employees/ Shareholders | 25706 | 1.00 |
| Total Shares | 21456947 | 834.67 |
| Retail portion will be oversubscribed by | 197393 Forms. | |
| How to apply in Baazar Style Retail IPO? | Amount Rs. | |
| Min Retail Application | 38 Shares | 14782 |
| Max Retail Application | 494 Shares | 192166 |
| Small HNI (Min) application | 532 Shares | 206948 |
| Small HNI (Max) application | 2546 Shares | 990394 |
| Big HNI Application | 2584 | 1005176 |
What is the timetable of Baazar Style Retail IPO? | |
| IPO opens on | 30 August 2024 |
| IPO Closes on | 3 September 2024 |
| IPO Allotment on | 4 September 2024 |
| Unblocking of ASBA | 5 Sepember 2024 |
| Credit of Shares | 5 September 2024 |
| Listing on | 6 September 2024 |
| Registered Office of 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, -700 091, West Bengal | |
| Who are the Lead Managers of Baazar Style Retail IPO? Axis Capital Limited Intensive Fiscal Services Private Limited JM Financial Limited | |
| Registrar to IPO | |
| Link Intime India Private Limited |
Baazar Style Retail IPO Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs. in Crore | Rs.in Crore | Rs. | % | |
| 2021-22 | 561.14 | -8 | -1.31 | -5.67 |
| 2022-23 | 794.39 | 5.10 | 0.76 | 2.67 |
| 2023-24 9M | 757.98 | 28.38 | 3.14 | 10.32 |
| Book Value of the Share on 31.03.2024 | Rs. | 30.43 | ||
| BV of the Share after the IPO | Rs. | 53.28 | ||
| Offer Price at Cap | Rs. | 386 | ||
Baazar Style Retail IPO | |
| Price /EPS | 122.93 |
| Price/Book Value | 12.68 |
| Price/BV after IPO | 7.24 |
How Baazar Style Retail IPO compares with the Peers?
Peer Comparison.
| As on date of DRHP | FV | Total | PE |
| Rs. | Income | Ratio of | |
| Rs. In Crore | |||
| Baazar Style Retail | 5 | – | 122.93 |
| V Mart Retail | 10 | – | N.A. |
| V-2 Retail | 10 | – | 138.88 |
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Baazar Style Retail IPO Review
This is the much-awaited IPO.
As a leading value fashion retailer, Style Baazar hold a prominent position in the organized retail market across West Bengal and Odisha. From 2017 to 2023, the company emerged as the fastest-growing value retailer, surpassing competitors like V2 Retail Limited and V-Mart Retail Limited in both store count and revenue. In Fiscal 2023, it boasted the largest retail footprint in Eastern India among listed value retailers.
By December 31, 2023, the company operated 153 stores spanning over 1.39 million square feet across 140 cities.
Size: The Net size of the IPO (after deducting Anchor portion) is not very large and looking to the fancy for Rakesh Jhunjhunwala brand, the IPO can receive hug oversubscription.
Financials: The company just like any other retail company is in fast expansion mode and hence in spite of rise in the topline, the bottom-line is showing weak uptrend. The shares are offered at very high PE multiple and yet looking to the growth potential of the business, the shares must be applied.
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