Business: The shares of Baazar Style Retail's IPO were listed at flat levels today. However, by 2 pm, the stock has given a return of 10.7 percent. The stock of Baazar Style Retail, a company in which many big investors including Rekha Jhunjhunwala have stakes, is trading at the level of Rs 407.10 and it is seeing an increase of Rs 18.10 or 4.65 percent from the listing price. Its day's high today has been Rs 430.95, which means the stock has made its investors earn more than 10 percent.

Investors were surprised by the flat listing but the stock made a profit on the first day of trading

Investors were surprised by the listing of the Bazaar Style Retail IPO as its listing was flat. The Bazaar Style Retail IPO was listed on BSE and NSE today. The shares of the Bazaar Style IPO were listed on BSE at Rs 389. Its issue price was also Rs 389, which means that investors neither got listing gains nor suffered any listing-related losses.

What does Bazaar Style Retail Company do?

Targeting men, women and kids of all ages, it offers a wide range of stylish garments in the fashion sector. Style Bazaar has more than 135 stores in 9 Indian states. Style Bazaar was established on 3 June 2013 in West Bengal under the Companies Act of 1956. Its headquarters is at Andul Road, GKW Compound. Style Bazaar has emerged as a hotspot for fashion lovers for trendy and affordable clothes, due to which its grey market premium (GMP) has also been great.

Important things related to Bazaar style retail IPO

Many big investors including Rekha Jhunjhunwala have reduced their stake in the company through IPO through Offer for Sale. This IPO was subscribed the most by Qualified Institutional Buyers (QIB) 81.83 times. Non-Institutional Investors (NII) subscribed it 59.43 times, retail investors subscribed it 9.12 times and the company's employees subscribed it 35.36 times. 

The face value of the market style retail IPO was Rs 5 per share and the price band was Rs 370 to Rs 389 per share. The lot size of the IPO was 38 shares, meaning investors were required to buy a minimum of one lot. The total issue size was 21,456,947 shares and out of this, the fresh issue was of 3,804,627 shares. 17,652,320 shares with a face value of Rs 5 were placed under the offer for sale. The company's employees were given a discount of Rs 35 per share from the issue price in this IPO.

Important dates related to Bazaar Retail IPO

IPO Opening Date Friday, August 30, 2024
IPO Closing Date Tuesday, September 3, 2024
Basis of Allotment Wednesday, September 4, 2024
Refund Date Thursday, September 5, 2024
Credit of Shares in Demat Thursday, September 5, 2024
Listing Date Friday, September 6, 2024

The issue type was a book built issue and the IPO was to be listed on BSE, NSE. The pre-issue share holding was 70,810,966 and the post-issue share holding was 74,615,593. The IPO date was kept between August 30, 2024 to September 3, 2024.