Baazar Style Retail, supported by Rekha Jhunjhunwala, made its debut on the BSE and NSE today with a flat listing. The stock opened at ₹389 on both exchanges, matching its IPO issue price. This initial listing brought the company’s market capitalization to ₹3,107 crore.
On the NSE, the stock started at₹389, and the market cap climbed to₹3,107 crore. During the early trading session, 38.72 lakh shares changed hands, generating a turnover of ₹150.85 crore. The IPO was priced between ₹370 and ₹389 per share and was held from August 30 to September 3. The share sale was significantly oversubscribed, with the issue receiving 40.66 times the number of bids on its final day. A total of 61.11 crore shares were bid for against the 1.5 crore shares available.
The IPO raised₹834.68 crore, with the issue consisting of a fresh equity share issue worth₹148 crore and an offer for sale amounting to₹686.68 crore by promoters and other shareholders. The minimum lot size for the IPO was 38 shares, costing ₹14,782. Retail investors could apply for up to 13 lots, totaling 494 shares, for an investment of₹1,92,166. Share allotments were finalized on September 4.
Link Intime India Private Ltd served as the registrar for the IPO, while Axis Capital, Intensive Fiscal Services Private Limited, and JM Financial Limited acted as the book-running lead managers.
Baazar Style Retail is a fashion retailer primarily operating in West Bengal and Odisha. The company provides a range of apparel for men, women, boys, girls, and infants, along with general merchandise, including home furnishings.
