Kolkata's Baazar Style plans to launch Rs 700 crore IPO

9 Dec 2022 , 09:11 AM

The Kolkata-based retail chain company backed by the late veteran investor Rakesh Jhunjhunwala, Style Retail Private Limited (BSRPL) plans to launch an IPO in 2023 of Rs 700 crore. The company has roped in Axis Bank, JM Financial and Intensive Fiscal Services as lead managers.

As per an Economic Times report, the proposed IPO will value the retail chain at Rs 2,500 crore. Of the Rs 700 crore, Rs 300 crore will be raised through fresh issue of shares and Rs 400 crore will be raised through secondary sale of shares by promoters and existing shareholders.

The company expects to file the DRHP by February 2023 and launch the IPO by June 2023.

Bazaar style was founded in 2013 and is engaged in multi-brand retailing of lifestyle products. Currently, the company has 125 stores across West Bengal, Odisha, Andhra Pradesh, Jharkhand, Bihar, Assam, Tripura and Uttar Pradesh. It offers a variety of products including clothing, footwear, luggage, accessories, fragrances, cosmetics, sunglasses and toys.

Intensive Group currently hold 13% stake in the company, Rakesh Jhunjhunwala owns around 7.5% stake, Haldiram promoters (Delhi and Nagpur groups) own 5% and HNI owns around 10-12% stake in Baazar. Style. The promoters own about 63% stake in Baazar Style.

For feedback and suggestions, write to us at [e-mail]