Bazaar Style Retail IPO, a fashion retailer based in Kolkata, is set to launch its mainboard initial public offering (IPO) on Wednesday, August 30, 2024. The company specializes in apparel for men, women, boys, girls, and infants, along with non-apparel and home furnishing products, aiming to provide a family-friendly shopping experience with stylish yet affordable merchandise.
Operating primarily in Odisha and West Bengal, Bazaar Style Retail has expanded its presence to nine states across India.
IPO Details: Prominent investors, including Rekha Rakesh Jhunjhunwala, plan to sell 27.23 lakh equity shares through the offer for sale (OFS). Intensive Softshare Private Ltd will offload 22.40 lakh shares, and Intensive Finance Pvt Ltd will divest 14.87 lakh shares. Other shareholders, such as Chandurkar Investments, Subroto Trading & Finance Company Ltd, and various individual investors, including Rajnish Gupta, Madhu Surana, and Sabita Agarwal, will also be selling their shares.
Earlier in August, Bazaar Style Retail raised ₹37 crore from Volrado Ventures Partners Fund II in a pre-IPO round. This infusion of funds led to a reduction in the IPO size, bringing it down to ₹148 crore from the initially planned ₹185 crore.
Frequently Asked Questions (FAQs) related to the Baazar Style Retail IPO
When does the Baazar Style Retail IPO open for subscription?
The IPO opens for subscription on Wednesday, August 30, 2024.
What type of products does Baazar Style Retail offer?
Baazar Style Retail offers apparel for men, women, boys, girls, and infants, as well as general merchandise including non-apparel and home furnishing products.
Where is Baazar Style Retail headquartered?
The company is headquartered in Kolkata, India.
In which states does Baazar Style Retail primarily operate?
Baazar Style Retail primarily operates in Odisha and West Bengal but has stores in nine states across India.
What is the size of the Baazar Style Retail IPO?
After a pre-IPO round, the IPO size has been reduced to ₹148 crore from the initially planned ₹185 crore.
Who are the major shareholders selling their stakes in the IPO?
Major shareholders selling their stakes include Rekha Rakesh Jhunjhunwala, Intensive Softshare Private Ltd, and Intensive Finance Pvt Ltd, among others.
How many shares will Rekha Rakesh Jhunjhunwala sell in the IPO?
Rekha Rakesh Jhunjhunwala plans to sell 27.23 lakh equity shares.
Which investment firm participated in Baazar Style Retail’s pre-IPO round?
Volrado Ventures Partners Fund II invested ₹37 crore in the company during the pre-IPO round.
What is the focus of Baazar Style Retail’s business model?
The company focuses on providing a family-oriented shopping experience with a wide range of stylish and affordable merchandise.
Why was the IPO size reduced from ₹185 crore to ₹148 crore?
The IPO size was reduced following the ₹37 crore investment from Volrado Ventures Partners Fund II during the pre-IPO round.