Backed by Rekha Jhunjhunwala, Baazar Style Retail Limited is launching a Mainboard IPO with a book-built issue worth ₹834.68 crore (21,456,947 shares). Founded in June 2013, the company is a fashion retail brand based in West Bengal and Odisha, offering affordable clothing for boys, girls, women, and infants, as well as home furnishings and non-apparel items.
The Baazar Style Retail IPO commands a market share of 3.03% in West Bengal and 2.22% in Odisha, boasting the largest retail footprint among value retailers in Eastern India for FY 2024. With an average floor area of 9,046 square feet, Baazar Style Retail generated sales of ₹7,758 per square foot during the same fiscal year. As of March 31, 2024, the company operated 162 outlets across 9 states, including Assam, Jharkhand, Tripura, Uttar Pradesh, Andhra Pradesh, Odisha, and Bihar.
The IPO is set to open on August 30, 2024, and close on September 3, 2024, with a price band ranging from ₹370 to ₹389 per share. The listing is scheduled for September 6, 2024, on the BSE and NSE.
The bazaar style retail limited IPO will raise ₹834.68 crore, comprising a fresh issue of ₹148 crore and an Offer for Sale (OFS) of ₹686.68 crore. Of this, 35% is allocated to retail investors, 50% to institutional investors, and 15% to non-institutional investors.
Financial Snapshot
Total Assets: ₹1,165.97 crore
Total Revenue: ₹982.83 crore
PAT: ₹21.94 crore
Net Worth: ₹212.56 crore
EBITDA: ₹142.14 crore
Key Dates
IPO Opening Date: August 30, 2024
IPO Closing Date: September 3, 2024
Allotment Date: September 4, 2024
Refund Initiation: September 5, 2024
Listing Date: September 6, 2024
Investment Highlights
Largest Retail Footprint: In Eastern India among value retailers.
Affordability: Focus on offering stylish yet affordable clothing.
Growth Potential: Rapid expansion with a cluster-based strategy.
Strong Leadership: Supported by experienced promoters and management.
Investment Risks
Regional Concentration: Heavy reliance on Eastern India.
Market Volatility: Susceptible to changing consumer preferences.
Competition: Highly competitive retail and fashion industry.