Baazar Style Retail Ltd. was incorporated on June 3, 2013. The company is a value fashion retailer operating in the organized retail market in West Bengal and Odisha. The company offers two main categories: apparel (for men, women, boys, girls, and infants) and general merchandise (non-apparel items and home furnishings).
| Bidding Dates |
|---|
| 30 Aug 2024 - 03 Sep 2024 |
| Subscription |
|---|
| 40.66x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,060 | 1 | 13 | 38 | 21.5 M | ₹370 - ₹389 | 46.49 % | ₹7939.1 M - ₹8346.8 M | RHP DOC |
Baazar Style Retail IPO SUBSCRIPTION STATUS
03 Sep '24Baazar Style Retail IPO overall subscription rate was 40.66 times the total available shares
Baazar Style Retail IPO retail subscription rate was 9.12 times in the retail segment
Baazar Style Retail IPO non-institutional investor subscription rate was 59.43 times in the non-institutional investor category
Baazar Style Retail IPO Qualified Institutional Bidder subscription rate was 81.83 times the available shares for Qualified Institutional Bidder
Baazar Style Retail IPO Employees subscription rate was 35.36 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 35% | 15% | 50% | - |
03 Sep 2024 (Day 3) | 9.12x | 59.43x | 81.83x | 35.36x |
02 Sep 2024 (Day 2) | 3.75x | 11.62x | 0.84x | 20.48x |
30 Aug 2024 (Day 1) | 0.82x | 0.47x | 0.7x | 6.01x |
Baazar Style Retail FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| FY24 | 219.4 | 9,728.8 | 1,116.2 | 270.0 | 14.6% |
| FY23 | 51.0 | 7,879.0 | 329.1 | -102.0 | 12.9% |
| FY22 | -80.1 | 5,511.2 | 155.9 | -110.3 | 12.4% |
Baazar Style Retail IPO SUBSCRIPTION STATUS DETAILS
Baazar Style Retail had 21.5 M shares on offer
Baazar Style Retail IPO offer price was in the range ₹370 - ₹389
Baazar Style Retail IPO minimum Investment was ₹14060
Baazar Style Retail IPO issue size was ₹ 7939.1 M - ₹ 8346.8 M
Baazar Style Retail had a minimum lot size of 38 Shares per application
Baazar Style Retail NUMBER OF SHARES ON OFFER
Baazar Style Retail IPO IMPORTANT DATES
| Issue Open Date | 30 Aug 2024 |
| Issue close Date | 03 Sep 2024 |
| Allotment Date | 04 Sep 2024 |
| Refund Date | 05 Sep 2024 |
| Demat Account Credit Date | 05 Sep 2024 |
| Listing Date | 06 Sep 2024 |
| Listing on Exchange(s) | NSE and BSE |
| Baazar Style Retail Allotment Status | Exchange |
Baazar Style Retail IPO subscription opened on 30 Aug 2024, and closed on 03 Sep 2024
IPO allotment for Baazar Style Retail was finalized on Wednesday, 04 Sep 2024
IPO listing for Baazar Style Retail was on NSE and BSE on Friday, 06 Sep 2024
Baazar Style Retail IPO LISTING GAINS
| Issue Price (adjusted) | 389.0 |
| Listing Open Price | 389.0 |
| Listing Close Price | 400.0 |
| Listing Gain% | 0.0% |
| Current Gain% | -17.6% |
Baazar Style Retail Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Baazar Style Retail Ltd. | 320.6 | 2392.5 | 52.1 | 0.2 | 1.3 | 10.4 | 2.5 | 1852.6 | 37 | 46.9 | 219.6 | 6.2 | 219.6 |
| Avenue Supermarts Ltd. | 3900 | 254375.9 | 83.2 | 6.4 | 3.6 | 12.1 | 10.1 | 68894.8 | 15.8 | 2970.5 | 9.7 | 46.9 | 13 |
| Trent Ltd. | 2997 | 159809.7 | 88.3 | 6.2 | 7.6 | 24.6 | 14.7 | 20189 | 16.3 | 1719.6 | 11.2 | 33.9 | 14.2 |
| Vishal Mega Mart Ltd. | 108.7 | 50927.8 | 57.1 | 1.9 | 3.8 | 11.3 | 7.3 | 12992.6 | 20.6 | 839.2 | 32.8 | 1.9 | 29.7 |
| V2 Retail Ltd. | 219.4 | 8001.6 | 49.6 | 0.4 | 2.6 | 18 | 6.7 | 3077.4 | 62.7 | 162.1 | 125 | 4.4 | 124.2 |
| Aditya Birla Fashion and Retail Ltd. | 63.3 | 7729.7 | -9.9 | 0.1 | 0.9 | -13.3 | -4.4 | 8486.5 | 12.4 | -775.9 | -106.5 | -6.4 | -67.2 |
Baazar Style Retail INFORMATION ON IPO ISSUE
About Baazar Style Retail
Baazar Style Retail Ltd. was incorporated on June 3, 2013. The company is a value fashion retailer operating in the organized retail market in West Bengal and Odisha. The company offers two main categories: apparel (for men, women, boys, girls, and infants) and general merchandise (non-apparel items and home furnishings).
Object of the Issue
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company
- General corporate purposes
Baazar Style Retail - PROMOTERS
| Name |
|---|
| Pradeep Kumar Agarwal |
| Rohit Kedia |
| Shreyans Surana |
| Bhagwan Prasad |
| Sabita Agarwal |
| Rajendra Kumar Gupta |
| Sri Narsingh Infrastructure Private Limited |
| Rajendra Kumar Gupta (HUF) |
Baazar Style Retail Book Running Lead Manager
Axis Capital Limited
baazarstyle.ipo@axiscap.in
Intensive Fiscal Services Private Limited
stylebaazar.ipo@intensivefiscal.com
JM Financial Limited
baazarstyle.ipo@jmfl.com
Baazar Style Retail Registrar to the Offer
Link Intime India Private Limited
baazarstyle.ipo@linkintime.co.in
Baazar Style Retail Strengths
Rapid store expansion
The company is the fastest-growing value retailer from 2017 to 2023, with a 42% CAGR in store count. It operates 153 stores across nine states as of CY23.
High operational efficiency
The company follows a thorough vendor selection process, emphasizing order fulfillment capacity, delivery time, and product quality. Its control over the supply chain allows efficient service of customer demands.
Targeted promotion activities
The company's understanding of local markets has enhanced its marketing strategy execution. It maintains a large customer database and engages with customers regularly through SMS, voice calls, and social media.
Baazar Style Retail Risks
High competition
The fashion and retail industry is highly competitive. If the company does not effectively address competition, its cash flows, financial condition, and results of operations may suffer.
Geographically concentrated
The company’s stores are mainly located in eastern India, with most sales coming from West Bengal, Odisha, Assam, and Bihar, referred to as its 'Core Markets'. Any adverse developments affecting operations in these states could negatively impact the company’s revenue and results.
Dependent on third-party suppliers
The company relies on various third-party suppliers for its products. Any issues such as supply failures, delays, or defective products could harm its reputation, business, financial condition and results of operations.
IPO FAQs
This IPO consists of an offer for sale of up to Rs 686.7 crore, of 17,652,320 shares. It also consists of a fresh issue of Rs 148.0 crore.
The promoters of the company are Pradeep Kumar Agarwal, Rohit Kedia, Shreyans Surana, Bhagwan Prasad, Sabita Agarwal, Rajendra Kumar Gupta, Sri Narsingh Infrastructure Private Limited and Rajendra Kumar Gupta (HUF).
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 370.0 - 389.0.
The IPO application opens on Aug 30, 2024 and closes on Sep 03, 2024.
The minimum lot size for the IPO is 38. The maximum lot size for the IPO is 494.
For all category investors, the minimum application amount for this IPO is Rs. 14,060.0, the maximum value for this IPO is Rs 192,166.0.
This IPO will be allotted on Sep 04, 2024.
The refund will be credited to your account on Sep 05, 2024.
The allotted shares will be credited to your demat on Sep 05, 2024.
Baazar Style Retail Ltd.’s shares listed on the stock exchanges on Sep 06, 2024.