Baazar Style Retail IPO Price: ₹370 to ₹389 per share
IPO Dates: 30 August 2024 – 3 September 2024
Company Overview
Incorporated in June 2013, Bazaar Style Retail Limited, known as Style Bazaar, is a prominent fashion retailer based in Eastern India. The company operates extensively across West Bengal and Odisha and has expanded its presence to several other states, including Odisha, Bihar, Assam, Jharkhand, Andhra Pradesh, Uttar Pradesh, Tripura, and Chhattisgarh.
Product Offering
Bazaar Style Retail Limited offers a diverse range of products tailored to meet the needs of a wide audience. The company’s product line includes apparel for men, women, boys, girls, and infants and general merchandise such as non-apparel and home furnishing products. The company emphasizes a family-friendly shopping experience, aiming to deliver stylish and affordable merchandise to every Indian household.
Market Presence and Expansion
As of March 31, 2024, Bazaar Style Retail Limited has established a robust retail presence with 162 stores across nine states. The stores, averaging 9,046 square feet in size, are strategically located to cater to the middle-class demographic, particularly youth and young families. The company uses a cluster-based expansion model, which enhances supply chain efficiency, optimizes inventory management, and maximizes brand visibility.
Design and Merchandising Team
The company has a dedicated design and merchandising team of 57 professionals. These experts possess in-depth knowledge of regional preferences and are adept at sensing market trends, ensuring that the products align with customer expectations. The team’s experience in the retail and textile industries allows them to provide customers with the latest fashion trends consistently.
Marketing and Customer Experience
Bazaar Style Retail Limited also maintains an in-house marketing team consisting of 13 personnel. This team is responsible for promoting the brand and ensuring strong customer engagement. The stores are staffed by trained employees who enhance the shopping experience, further solidifying the company’s reputation as a leading value fashion retailer in Eastern India.
Leadership in Eastern India
With the largest retail footprint in Eastern India compared to listed value retailers in Fiscal 2023, Bazaar Style Retail Limited has established itself as a top value fashion retailer in the region. From 2017 to 2023, the company was recognized as the fastest-growing value retailer, expanding to 153 stores across 140 cities by December 31, 2023. This growth is a testament to the company’s strong customer loyalty and brand recognition, driven by a wide range of products and a focus on quality and affordability.
Bidding Starts In
Baazar Style Retail IPO Specifics:
| IPO Date | August 30, 2024 to September 3, 2024 |
| Listing Date | Friday, September 6, 2024 |
| Face Value | ₹5 per share |
| Price Band | ₹370 to ₹389 per share |
| Lot Size | 38 Shares |
| Total Issue Size | 21,456,947 shares (aggregating up to ₹834.68 Cr) |
| Fresh Issue | 3,804,627 shares (aggregating up to ₹148.00 Cr) |
| Offer For Sale | 17,652,320 shares (aggregating up to ₹686.68 Cr) |
| Employee Discount | ₹35 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 70,810,966 |
| Share holding post issue | 74,615,593 |
Baazar Style Retail IPO Timetable (Important Dates)
| IPO Open Date | Friday, August 30, 2024 |
| IPO Close Date | Tuesday, September 3, 2024 |
| Basis of Allotment | Wednesday, September 4, 2024 |
| Initiation of Refunds | Thursday, September 5, 2024 |
| Credit of Shares to Demat | Thursday, September 5, 2024 |
| Listing Date | Friday, September 6, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 3, 2024 |
Baazar Style Retail IPO Lot Size
Bidders have the opportunity to bid for a minimum of 38 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 38 | ₹14,782 |
| Retail (Max) | 13 | 494 | ₹1,92,166 |
| S-HNI (Min) | 14 | 532 | ₹2,06,948 |
| S-HNI (Max) | 67 | 2,546 | ₹9,90,394 |
| B-HNI (Min) | 68 | 2,584 | ₹10,05,176 |
Baazar Style Retail IPO Reservation
| QIB Shares Offered | Not more than 50% of the Net offer |
| Retail Shares Offered | Not less than 35% of the Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Offer |
Baazar Style Retail Limited IPO Financial Information
| Period Ended | 31 Mar 2024 |
|---|---|
| Assets | 1165.97 |
| Revenue | 982.83 |
| Profit After Tax | 21.94 |
| Net Worth | 212.56 |
| Reserves & Surplus | 180.2 |
| Total Borrowing | 178.23 |
Key Performance Indicator – Baazar Style Retail IPO
| KPI | Values |
|---|---|
| Market Cap | ₹ 2902.55 Cr. |
| ROE | 10.74% |
| ROCE | 18.39% |
| EPS | ₹3.1 |
| P/E (x) | 125.54 |
| Debt/ Equity | 0.76 |
| RoNW | 10.32% |
| P/BV | 12.78 |
Objects of the Issue:
The company plans to use the Net Proceeds for the following purposes:
- To prepay or repay, either in full or in part, certain outstanding loans taken by the Company.
- For general corporate purposes.
Prospectus Links:
Prospectus: Official documents that provide detailed information about the IPO and the company.
