Baazar Style Retail IPO subscribed 41% on Day 1 so far

30 Aug 2024 , 03:28 PM

Baazar Style Retail’s initial public offering (IPO) is available for subscription on Friday, August 30, and will run until Tuesday, September 3. The business plans to raise ₹834.68 crore through a book-built issue, which includes a fresh issue of 38 lakh shares for ₹148 crore and an offer for sale (OFS) of 1.8 crore shares for 686.68 crore.

The issue’s book-running lead managers are Axis Capital, Intensive Fiscal Services Private Limited, and JM Financial Limited. The registrar for the issue is Link Intime India Private Ltd.

The pricing band for Baazar Style Retail IPO is ₹370 to ₹389 per share. The minimum lot size for an application is 38 shares, and the minimum investment for individual investors is ₹14,782. Retail investors can place bids for up to 13 lots totalling ₹1,92,166.

As of 3:22 pm, the employee reserved portion of the IPO has been oversubscribed 5.34 times followed by the Retail portion which has been subscribed 67%. The NII portion has been subscribed 32% while 11,476 bids have been received for the QIB portion.

Its income from operations increased from Rs 551 crore in FY22 to Rs 973 crore in FY24, representing a CAGR of 32.86%, while the entire lifestyle and home value retail industry is expected to develop at a CAGR of 19.3% from FY22 to FY24.

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