Bazaar Style Retail IPO raised ₹250 crore from anchor book

30 Aug 2024 , 10:26 AM

Bazaar Style Retail Limited, a Kolkata-based fashion retailer brand operating in West Bengal and Odisha has raised ₹250.1 crore from anchor investors on  August 29.

According to the exchange filing by the company, it has allocated 64,29,372 equity shares to anchor investors at a price of ₹389 per equity share.

Multiple global and Indian marquee investors took part in the anchor book including HSBC Global Investment Funds, Natixis International Funds, Optimix Wholesale Global Emerging Markets Share Trust, Allianz Global Investors Fund, and Societe Generale.

Other than this, HDFC Mutual Fund, Ashoka India Equity Investment Trust Plc, Whiteoak Capital, Volrado Venture Partners Fund, Bandhan Mutual Fund, Motilal Oswal Mutual Fund, Bajaj Allianz Life Insurance Company, SBI General Insurance Company, Helios Flexi Cap Fund, Trust Mutual Fund, Julius Baer India Equity Fund, Reliance General Insurance Company, and Verition Multi-Strategy Master Fund have also participated in the anchor book.

As per the exchange filing, company said, “Out of the total allocation of 64,29,372 equity shares to the anchor investors, 22,76,390 equity shares were allocated to 8 domestic mutual funds through a total of 13 schemes.”

The initial public offer of Bazaar Style Retail is opening for subscription from August 30 to September 3. Investors can apply at a price band of ₹370-389 per share in a lot size of 38 shares in a lot.

The company is aiming to raise ₹834.68 crore from the IPO which includes fresh issue of ₹148 crore and an offer-for-sale of 1.76 crore equity shares