IPO Details

Bidding Dates

30 Aug '24 - 03 Sep '24

Minimum Investment

₹14,782 / 1 Lot (38 Shares)

Price Range

₹370 - ₹389

Maximum Investment

₹192,166 / 13 Lot (494 Shares)

Retail Discount

To be announced

Issue Size

₹834.68 Cr

Investor category and sub category

Retail Individual Investors (RII)  |   Non-institutional Investors (NII)  |   Qualified Institutional Buyers (QIB)  |   Eligible employees  |  

IPO Dates

Important dates with respect to IPO allotment and listing

Opening Date

Aug 30, 2024

Closing Date

Sep 3, 2024

Basis of Allotment

Sep 4, 2024

Initiation of Refunds

Sep 5, 2024

Listing Date

Sep 6, 2024

Cut-off time for UPI mandate confirmation

Sep 3, 2024

About Bazaar Style Retail Limited

Bazaar Style Retail Limited, incorporated in June 2013, is a prominent fashion retailer with a strong presence in West Bengal and Odisha. The company offers a diverse range of apparel for men, women, boys, girls, and infants, along with general merchandise such as non-apparel and home furnishing products.

Committed to delivering a family-oriented shopping experience, Bazaar Style Retail focuses on providing high-quality, stylish products at affordable prices to cater to the needs of Indian families.

As of March 31, 2024, Bazaar Style Retail has significantly expanded its footprint across nine states, including Odisha, Bihar, Assam, Jharkhand, Andhra Pradesh, Uttar Pradesh, Tripura, and Chhattisgarh, operating 162 stores. Each store averages 9,046 square feet and is staffed by trained employees dedicated to enhancing the customer experience.

The company boasts a robust in-house marketing team of 13 professionals and a skilled designing and merchandising team of 57 personnel. These teams possess deep expertise in understanding regional preferences and are adept at aligning their offerings with the latest market trends.

Bazaar Style Retail continues strengthening its position as a go-to destination for affordable, stylish merchandise in its regions.

Industry Outlook:

  1. India's retail market grew from ₹5,44,80,000 million in FY 2019 to ₹8,49,16,000 million in FY 2024, with a projected CAGR of 10.1% until FY 2027.
  2. The Apparel & Accessories segment, accounting for ₹68,45,600 million in FY 2024, is the fastest-growing, expected to rise from 8.1% to 9.4% by FY 2027.

Bazaar Style Retail Limited IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company.
  2. General corporate purposes.

Peer Details

The companies considered by Bazaar Style Retail as its peers include:

  1. V-Mart Retail Limited
  2. V2 Retail Limited

How to Check the Allotment Status of the Bazaar Style Retail Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of Bazaar Style Retail Limited IPO

  • Registered office: P S Srijan Tech Park, DN-52, 12thFloor, Street Number 11, DN Block, Sector V, Salt Lake, North 24 Parganas, Kolkata, -700 091, West Bengal
  • Phone: (+91 33) 6125 6125
  • E-mail: secretarial@stylebaazar.com

IPO Financials

Particulars Year ending on March 31, 2024 Year ending on March 31, 2023 Year ending on March 31, 2022
Revenue from Operation (in ₹ million) 9,728.82 7,879.03 5,511.18
Profit After Tax (PAT) (in ₹ million) 219.42 51.02 (80.07)
Current Ratio (x) 1.05 1.18 1.09
Net Worth (in ₹ million) 2,125.63 1,910.22 1,412.11
Total Borrowings (in ₹ million) 1,782.28 1,151.81 1,015.65
Return on Equity (%) 10.74% 3.02% (6.86)%
Return on Capital Employed (RoCE) (%) 18.39% 13.77% 6.59%
Earnings Per Share (in ₹) 3.14 0.76 (1.31)

Know before investing

Strengths

6

  1. Fastest-growing value retailer in Eastern India with 3.03% market share.

  2. Expanded to 162 stores across 9 states by March 2024.

  3. Revenue grew at 32.86% CAGR from ₹5,511.18 million in FY 2022-2024.

  4. Cluster-based expansion strategy supports deep market penetration and efficiency.

  5. Private labels contributed 37.93% to revenue in FY 2024.

  6. Strategic store locations maximise visibility and customer footfall potential.

Risks

6

  1. 87.32% of revenue comes from East India markets, geographical concentration.

  2. 83.80% of revenue from apparel sales indicates heavy reliance on apparel.

  3. 37.93% of revenue comes from private labels.

  4. Only 3.03% market share in organised value retail with high competition.

  5. 641 suppliers, no long-term agreements in place, increase supply chain risk.

  6. Seasonal demand fluctuations; inventory turnover affected, 212 days in FY 2024.

  • How to Apply in IPO
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Bazaar Style Retail IPO FAQs

What is the Bazaar Style Retail IPO?

Bazaar Style Retail IPO is a book-built IPO. The IPO will be open from August 30, 2024, to September 3, 2024.

When will Bazaar Style Retail IPO be allotted?

The Basis of Allotment will happen on Wednesday, September 4, 2024.

When will Bazaar Style Retail IPO open for subscription?

The IPO subscription window will open on August 30, 2024.

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 38 shares.

When will Bazaar Style Retail Limited list on exchanges?

The listing date for Bazaar Style Retail is Friday, September 6, 2024.

What would be the listing gains on the Bazaar Style Retail IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

How to apply for Bazaar Style Retail IPO online?

  1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
  2. Locate the IPO Section: Navigate to the ‘IPO’ section on the platform.
  3. Select IPO: Find and select the Bazaar Style Retail IPO from the list of open IPOs.
  4. Enter the Lot Size: Specify the number of lots you want to bid for.
  5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
  6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

How to increase your chances of getting a Bazaar Style Retail IPO allotment?

  1. Multiple Submissions: Use different Demat accounts to make multiple applications.
  2. Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
  3. Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.

How do I approve the UPI mandate request for Bazaar Style Retail Limited's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Bazaar Style Retail Limited using one PAN?

You can submit only one application using your PAN card.

How to read Bazaar Style Retail Limited's financial statements?

To read Bazaar Style Reatil’s financial statements, download the IPO’s  RHP document.