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- By Aditya Pratap Singh
- Fri, 06 Sep 2024 11:04 AM (IST)
- Source:JND
Bazaar Style IPO Listing: Bazaar-style retail shares made flat debut on the stock exchanges as it started trade on the NSE and BSE at Rs 389 apiece, which is in line with the IPO price. Earlier, it was speculated that Bazaar Style's share price would open with a 10-16% premium.
The IPO of value fashion retailer secured Rs 250 crore from anchor investors on Thursday, August 29th. The IPO was opened for subscription on August 30 and the price band was set at Rs 370-389 per share.
On Tuesday, the last day of bidding, Rekha Jhunjhunwala-backed Bazaar Style Retail's initial public offering got an overall subscription of 40.63 times. The segment reserved for Qualified Institutional Buyers (QIBs) has received a subscription of 81.83 times, while the institutional investor category got 59.41 times bidding. Retail investors section received a 9.07 times subscription.
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Established in June 2013, Bazaar Style Retail Limited operates as a fashion retailer in West Bengal and Odisha, providing a wide range of clothing for all genders and age groups, as well as essential housewares and non-apparel items.
Bazaar Style Retail IPO size
The initial public offering comprises a fresh issue of Rs 148 crore and an offer for sale (OFS) for the sale of up to 17.65 million shares by the company's existing shareholders and promoters. The OFS amounts to Rs 687 crore at the higher end of the issue price band, with a total issue size of Rs 834.68 crore.