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Initial public offerings

Bazaar Style Retail Ltd Sets Price Band for Rs. 834.68 Crore IPO

Strategic Insights

— 1 min read

Bazaar Style Retail Ltd, a fashion retail company, has set a price band of Rs. 370-389 a share for its initial public offering (IPO), aiming to raise Rs. 834.68 crore. The IPO, which will open on August 30, will comprise a fresh issue of Rs. 148 crore and an offer for sale of up to 17.65 million shares by existing shareholders and promoters. The company has reported a 23% year-on-year (YoY) growth in revenue to Rs. 982 crore in FY24, with its profit jumping over four-fold to Rs. 21 crore. The company operates 162 stores across 1.47 million square feet, offering products under apparel and general merchandise segments.

Key Takeaways:

  • The IPO will open on August 30 and will close on September 3.
  • The company aims to raise Rs. 834.68 crore through the IPO, with a fresh issue of Rs. 148 crore and an offer for sale of up to 17.65 million shares.
  • The basis of allotment for the IPO will be finalised on September 4, with initiation of refunds on September 5 and listing on September 6.
  • Axis Capital, Intensive Fiscal Services, and JM Financial are serving as the book-running lead managers for the issue.
  • Link Intime India has been appointed as the registrar.
  • The company has reported a 23% YoY growth in revenue to Rs. 982 crore in FY24.
  • The company's profit jumped over four-fold to Rs. 21 crore in FY24, with a return on equity (RoE) of 10% in FY24 compared to 3% in FY23.
  • The company operates 162 stores across 1.47 million square feet and offers products under apparel and general merchandise segments for men, women, boys, girls, and infants.

Statistics:

  • Rs. 370-389: price band set for the IPO
  • Rs. 834.68 crore: total issue size
  • Rs. 148 crore: fresh issue size
  • 17.65 million: number of shares to be sold by existing shareholders and promoters
  • 23%: year-on-year growth in revenue in FY24
  • Rs. 982 crore: revenue in FY24
  • 160%: increase in profit in FY24
  • Rs. 21 crore: profit in FY24
  • 10%: return on equity (RoE) in FY24
  • 3%: return on equity (RoE) in FY23
  • 162: number of stores operated by the company
  • 1.47 million: square feet of retail space operated by the company

Sources:

  • Hindustan Times, "Bazaar Style Retail Ltd sets price band for Rs. 834.68 crore IPO", published by HT Digital Content Services with permission.

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