Bazaar Style Retail sets price band of Rs 370-389 a share for IPO

Finalisation of basis of allotment will be on September 4, initiation of refunds will be on September 5 and the shares of the company will be listed on exchanges on September 6.

Kolkata-based Bazaar Style Retail Ltd has set a price band of Rs 370-389 a share for its initial public offering that will open on August 30. The anchor bidding will start on August 29 and the issue will close on September 3.

The IPO comprises a fresh issue of Rs 148 crore and an offer for sale of up to 17.65 million shares by its existing shareholders and promoters. On the upper band price of the issue, the OFS valued at Rs 687 crore and the total issue comes at Rs 834.68 crore. The total mcap will be at Rs 2,900 crore.

The finalisation of the basis of allotment will be on September 4, initiation of refunds will be on September 5 and the shares of the company will be listed on exchanges on September 6.

Axis Capital, Intensive Fiscal Services, and JM Financial are serving as the book-running lead managers for the issue, while Link Intime India has been appointed as the registrar.

The company reported a total income of Rs 982 crore in FY24, up 23 percent year-on-year (YoY) from Rs 794 crore. Its profit also jumped over four-fold or 320 percent YoY to Rs 21 crore in FY24 from Rs 5 crore in FY23, according to its RHP. Its return on equity (RoE) also rose to 10 percent in FY24, as compared to 3 percent a year back.

Baazar Style Retail is one of the leading players in the value retail market, in West Bengal and Odisha, with a presence of 162 stores spread across over 1.47 million square feet as of March 31, 2024. The company offers quality and affordable products under the apparel and general merchandise segments, through a chain of ‘value retail’ stores. Within the apparel vertical, they offer garments for men, women, boys, girls and infants, whereas general merchandise offerings include both non-apparel and home furnishing products.