Baazar Style shares debuted flat at ₹389, despite a ₹33 grey market premium. The IPO was subscribed 40.63 times and raised ₹250 crores from anchor investors for loan repayment and corporate purposes.
Baazar Style Retail’s IPO, supported by Rekha Jhunjhunwala, was 40.63 times oversubscribed by the end of bidding. Qualified Institutional Buyers subscribed 81.83 times, non-institutional investors 59.41 times, and retail investors 9.07 times.
Bazaar Style Retail, a key player in value fashion, operates 162 stores in 146 cities, with a strong presence in West Bengal and Odisha, and the largest retail footprint in Eastern India. Its strategic locations and expansion model boost supply chain efficiency and brand visibility, contributing to the highest EBITDA margin among listed value retailers in FY 2024. The company’s modern, air-conditioned stores ensure quality and affordability.
Baazar Style Retail Limited IPO aimed to raise capital for purposes like expansion, technology upgrades, debt reduction, or general corporate needs. This IPO involved raising funds through both a fresh issue of shares and an offer for sale.