Baazar Style Retail shares have been listed today. The company’s shares have been listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) today. These shares were listed at a discount to the issue price. The company had fixed the issue price for this at Rs 389 per share. Baazal Style Retail shares were listed on NSE and BSE for Rs 389 per share.
That is, IPO investors did not get any listing gain (Baazar Style Retail Listing Gain). However, the shares rose after listing. It jumped to Rs 393.90 (Baazar Style Retail Share Price) on BSE, that is, IPO investors are now in profit of 1.26 percent. Employees are more benefited because they got each share at a discount of Rs 35.
Whose stake is included in Baazar Style Retail
Baazar Style Retail’s equity shares were transferred to the name of Rakesh Jhunjhunwala’s nominee and wife Rekha Rakesh Jhunjhunwala after his death. The promoters of this company include Pradeep Kumar Agarwal, Rohit Kedia, Shreyans Surana, Bhagwan Prasad, Rajendra Kumar Gupta, Rajendra Kumar Gupta (HUF), and Narsingh Infrastructure.
The company will use the funds of Rs 135 crore to be raised from this issue to repay loans and for general corporate purposes. Axis Capital, Intensive Fiscal Services, and JM Financial are the book-running lead managers to the issue while Link Intime India is the registrar to the issue.
How were the company’s results
Bazaar Style Retail reported a standalone profit of Rs 5.1 crore in the financial year 2022-23. This was a very good performance from the loss of Rs 8.01 crore in the previous financial year. Revenue grew 43 percent to Rs 787.90 crore in FY 2022-23 as compared to FY 2021-22 due to an increase in sales of apparel and non-apparel as well as expansion of the retail store network and increase in same-store sales. As of the end of last year (December 31, 2023), the company had a total of 162 stores in 140 cities.
Bazaar Style Retail is the leading company in the value retail market in West Bengal and Odisha. Apart from this, the company is also focusing on other states of the country like Assam, Bihar, Jharkhand, Andhra Pradesh, Tripura, Uttar Pradesh, and Chhattisgarh.
