Baazar Style Retail closes at ₹400 on Listing Day

6 Sep 2024 , 03:46 PM

The Rekha Jhunjhunwala-backed Baazar Style Retail IPO debuted flat on the BSE and NSE on Friday. Baazar Style Retail’s share price is currently ₹389 per share on the BSE, with a flat listing on the NSE and BSE in India. The newly-listed stock saw robust purchasing after listing, reaching an intraday high of ₹431.15 on the NSE and ₹430.95 on the BSE.

While ascending to this intraday high, Baazar Style Retail’s share price increased by more than 8%, outperforming the listing price, The shares closed ₹400 2.8% above listing price.

According to stock market specialists, Baazar Style Retail’s share price saw considerable buying because the company’s financials were strong. They stated to mint that the company achieved a 35.8% CAGR from 2017 to 24.

According to the Red Herring Prospectus of Baazar Style Retail IPO, Rekha Jhunjhunwala has issued 2,723,120 equity shares in its mainboard IPO. The offered shares totalled ₹1,05,92,93,680, or roughly ₹106 crore. According to the RHP for the Baazar Style Retail IPO, which is published on SEBI’s website, Rekha Jhunjhunwala’s name is on the list of investor selling shareholders. She has offered her shares via the OFS mechanism.

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