Baazar Style Retail Limited IPO Opens On August 30. Check IPO Details Issue Date Price

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Baazar Style Retail Limited IPO Opens On August 30. Check IPO Details Issue Date Price

August 30, 2024
Baazar Style Retail Limited IPO Opens On August 30. Check IPO Details Issue Date Price

Baazar Style Retail Limited is coming out with an initial public offer to raise Rs. 834.68 crores from the market.

Below are the details of the Baazar Style Retail Limited IPO:

  • Issue opens – August 30 (Friday)
  • Issue closes – September 03 (Friday)
  • Issue size – Rs. 834.68 crores
  • Price band – Rs. 370 to 389 per equity share
  • Bid lot – 38 shares and in multiples thereof.

And here are some details of the company and further details on the IPO.

Company Details:

  • The Company was originally incorporated in June 2013 as 'Dwarkadas Mohanlal Pvt. Ltd' in Calcutta, West Bengal. The name was changed to 'Baazar Style Retail Pvt. Ltd' in November 2013. Subsequently on conversion to public limited company the name was changed to 'Baazar Style Retail Limited', in December 2021. The company is a value fashion retailer, offering affordable products under the apparels and general merchandise segments.
  • The company is a one-stop shop catering to the requirements of the entire family by providing a quality product portfolio at an affordable price. Within the apparels vertical, it offers garments for men, women, boys, girls and infants, and the general merchandise offerings include both non-apparels and home furnishing products.
  • Baazar Style Retail has a market share of 3.03% and 2.22%, in organized value retail market in the states of West Bengal and Odisha, respectively. The company was the fastest growing value retailer between 2017 - 2024, in terms of both store count and revenue from operations as compared to listed value retailers.
  • The company has the largest retail footprint in Eastern India, as compared to the listed value retailers. The company operates 162 stores spread across over 1.47 million square feet located in 146 cities.
  • The company's Average Transaction Value was Rs. 1,038.69 in FY2024, which was the 2nd highest when compared to that of the Listed Value Retailers in India.
  • The company's revenues from operations grew at a CAGR of 32.86% while the overall lifestyle and home value retail market grew at CAGR of ~19.3% during the same period.
  • The company has a healthy mix of both private label and third-party brands that are offered in the stores including fashion apparel of brands such as Killer and Sparky in select stores. The company currently owns 10 private label brands contributing Rs. 368.99 Cr in FY2024 representing 37.93% of its revenue from operations.
  • The company's revenues from operations have grown at a CAGR of 32.86% to Rs. 972.88 cr in FY2024 vs. Rs. 551.12 Cr in FY2022, while the EBITDA have grown to 14.61% from 12.40% during the same period. Due to a lean working capital cycle, the company has managed to improve its operating efficiency. In FY2024 the working capital days stood at 8.89 days vs. 17.96 days in FY2022.

Issue Size : Rs. 834.68 Cr

Employee Reservation : Equity shares aggregating up to Rs. 1 cr

Employee Discount : Rs. 35 per share

Issue break-up :

QIB – 50% of the net offer – Rs. 416.84 Cr.
NIB – 15 % of the net offer – Rs. 125.05 Cr.
RET – 35% of the net offer – Rs. 291.79 Cr.

Listing : BSE & NSE

Registrar : Link Intime India Private Limited

UPI : All Retail & NII Bidders (bids up to Rs. 5,00,000) Applications through brokers are compulsorily in UPI Mode

Note:

Application made using third party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs. 5,00,000) shall expire at 5:00 PM on the closing day of the IPO i.e., Tuesday, September 03rd, 2024.

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