₹ 14782 / 38 shares
Baazar Style Retail Ltd IPO Details
RHP/DRHPIssue Date
--
Investment/lot
₹ 14782
Price Range
370 - 389
Lot Size
38
IPO Size
₹ 834.77 Cr
IPO Listing Details
Listing On
6 Sep'24
Issue Price
389
Listed Price
₹ 389
Retail Gain/Listing Gain
â–²0.00%
Schedule of Baazar Style Retail Ltd
Start date
End date
Allotment of bids
Refund Initiation
Listing on exchange
06/09/2024
Baazar Style Retail Company Background
Baazar Style Retail Limited is a value fashion retailer. They are market leaders, in terms of scale, in the states of West Bengal and Odisha in the organized value retail market (Source: The Technopak Report).
Within the apparel vertical, the company offers garments for men, women, boys, girls and infants, whereas their general merchandise offerings include non-apparel and home furnishing products.
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Baazar Style Retail Competitive Strengths
One of the fastest-growing value retailers in eastern India and a market leader in West Bengal and Odisha
They were one of the fastest growing value retail chains during 2017 - 2023, in terms of store count, registering a CAGR of 42%, as per a Technopak Report. As of December 31, 2023, they were present in nine states and operated 153 stores.
During the same period, they were also the fastest-growing value retailer in terms of revenue from operations registering a CAGR of 27.8% when compared to that of the listed value retailers (Source: The Technopak Report).
Accelerated store expansion through a cluster-based approach
Their store count has grown from two stores since their incorporation in FY 2014 to 135 stores as of FY 2023 signifying a CAGR of 59.68%. The number of stores closed in FY 2023, 2022, and 2021, is 5, 3, and 2, respectively. They have the lowest store closures amongst the retail players in the last three fiscals.
Strong financial track record
The company registered a CAGR of 21.80% in the number of stores during FY 2021-2023; they witnessed a similar growth in their financial performance over the same period. The total income was ₹7,943.89 million as of March 31st 2023, ₹5611.39 million as of March 31st 2022, and ₹4,421.78 million as of March 31st 2021. The EBITDA was ₹1,014.84 million in FY2023, ₹683.52 million in FY2022, and ₹465.91 million in FY2021.
Risk Factors
- The company’s stores are concentrated in the eastern parts of India. Any adverse developments that affect their operations in that particular state can hurt the business.
- The use of ‘Style Baazar’ or similar trade names or images by third parties may result in loss of business to the third party. In addition, any potential negative publicity relating to such third parties may hurt their reputation and business.
- The growth of the business depends on the ability to identify, obtain and retain quality retail spaces.
Key Strategies
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Expand profit margins and increase revenue contribution from private labels. Focus on differentiation and achieving greater control over product quality of private labels.
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Strengthen market position by increasing penetration in existing clusters, expanding footprint in the focus markets, increasing focus on customer retention, and garnering greater brand loyalty.
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Continue to invest in strengthening their supply chain management and human capital to further reduce operating costs.
Baazar Style Retail Limited Key Financials
Here are the key financials for Baazar Style Retail Limited:
How to apply for IPO through ASBA
Kotak Securities
•04m 01s
How to apply for an IPO using UPI
Kotak Securities
•01m 19s
Opening of account will not guarantee allotment of shares in IPO. Investors are requested to do their own due diligence before investing in any IPO.
How To Apply for Baazar Style Retail Ltd IPO?
Here are the steps to apply for Baazar Style Retail Ltd IPO:
Step 1: Log in to your Kotak Securities Demat account Log in to your Demat account to access IPO investments. Next, select the current IPO section.
Step 2: Specify IPO details Enter the number of lots and the price you wish to apply for.
Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.
Step 4: Mandate Notification Your UPI app will receive a mandate notification to block funds.
Step 5: Approve Request Your funds will be blocked once you approve the mandate request on your UPI.
Baazar Style Retail Ltd IPO FAQs
When is Baazar Style Retail Ltd IPO listing date?
Baazar Style Retail Ltd will list on 2024-09-06.
What is the issue size of Baazar Style Retail Ltd IPO?
834.77 is the issue size of Baazar Style Retail Ltd IPO.
What is the minimum lot size required for Baazar Style Retail Ltd IPO?
The minimum lot size is 38 shares and the investment required is ₹14782.
What is the price band of the Baazar Style Retail Ltd IPO?
The price band of Baazar Style Retail Ltd IPO is ₹370 to ₹389.
Where can I read more about Baazar Style Retail Ltd business?
You can read more about Baazar Style Retail Ltd and its IPO from the company’s red herring prospectus (RHP) here.
What is the Baazar Style Retail Limited IPO?
The Baazar Style Retail IPO has an issue size of ₹834.68 crores. The IPO opens for subscription on 30/08/2024 and closes on 3/09/2024.
Who is the Registrar for Baazar Style Retail Limited IPO?
Link Intime India Private Limited is the registrar for this IPO.
