Style Baazar, known for its trendy and affordable clothing, has become a preferred destination for fashion enthusiasts. Their exclusive brand, Express Baazar, promotes the “Quick Shop. One Stop.” philosophy, offering a convenient shopping experience. The company’s strong presence and growth potential have led to the launch of the Baazar Style Retail Limited IPO, which aims to raise ₹834.67 crores.

IPO Structure and Financials

The IPO comprises a Fresh Issue of 3.80 lakh shares worth ₹148 crores and an Offer for Sale (OFS) of 17.65 lakh shares totaling ₹686.67 crores. This combination of fresh issue and OFS allows the company to expand its operations while enabling existing shareholders to liquidate a portion of their holdings.

The price band for the IPO is set between ₹370 and ₹389 per equity share, with a minimum lot size of 38 shares. Retail investors need to make a minimum investment of ₹14,782, while High-Net-Worth Individuals (HNIs) must invest a minimum of ₹206,948 for 14 lots (532 shares).

Subscription Period and Key Dates

The subscription period for the Baazar Style IPO opened on August 30, 2024, and will close on September 03, 2024. The allotment of shares is expected to be finalized by Thursday, September 5, 2024, with the tentative listing date on Friday, September 6, 2024, on both BSE and NSE.

Baazar Style Retail Limited IPO GMP

The Grey Market Premium (GMP) for the Baazar Style Retail Limited IPO is currently expected to range between ₹90 and ₹100. Although the GMP offers a glimpse into potential listing gains, it is important to note that no real trading occurs in the grey market, making price discovery before listing speculative. Investors should consider the GMP as informational and not as a definitive investment strategy.

Baazar Style Retail Limited IPO Subscription Status

As of 2:27 PM on September 3, 2024, the Baazar Style Retail Limited IPO was subscribed 17.99 times on its third day. The strong subscription figures reflect high investor interest and confidence in the company’s growth prospects. For real-time updates on subscription status, visit BSE.

How to Check Baazar Style IPO Allotment Status

The Baazar Style IPO allotment status will be available on September 5, 2024. Investors can check their allotment status on the registrar's website, Link Intime India Private Limited:

Visit the IPO allotment status page.

Select Baazar Style Retail Limited IPO from the dropdown.

Enter your application number, PAN, or DP Client ID.

Submit the details to view your allotment status.

Expert Review: Should You Invest?

Baazar Style Retail Limited has demonstrated a robust financial performance, with revenue growing from ₹5,611.39 million in FY22 to ₹9,828.26 million in FY24. The company’s EBITDA and PAT have also shown significant growth, indicating strong operational efficiency and profitability.

With a pre-issue EPS of ₹3.14 and a post-issue EPS of ₹2.94, the IPO is priced at a P/E ratio of 123.88x (pre-issue) and 132.31x (post-issue), which is aligned with the industry average P/E ratio of 138.88x. The company’s ROCE for FY24 is 18.39% and ROE is 10.74%, suggesting that the IPO is fairly priced, though slightly on the higher side.

The Grey Market Premium suggests potential listing gains of 20%-25%, making it an attractive proposition for risk-tolerant investors. However, given the fully priced nature of the IPO, it is recommended for listing gains or long-term investment by those with a higher risk appetite.

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