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Baazar Style Retail IPO

Baazar Style Retail IPO GMP grey market premium, review, Subscription, allotment, listing estimate @ Chanakyanipothi.com,

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  • Reviews
  • Subscription
  • Allotment

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
Shares

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
Ratio Analysis

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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