Baazar Style Retail IPO: After the successful completion of the initial public offering (IPO) of Rekha Jhunjhunwala-backed Baazar Style Retail, the focus is now on the share allotment, which is expected to be finalised on Wednesday, September 4. The ₹834.68 crore issue, a combination of a fresh issue of 38 lakh and an offer for sale (OFS) of 1.77 crore shares, opened for subscription on Friday, August 30, and concluded on Tuesday, September 3.
The company's shares are expected to be listed on the BSE and NSE on Friday, September 6.
The Rekha Jhunjhunwala-backed public issue was subscribed 40.6 times, receiving bids for 61.1 crore shares against 1.5 crore shares offered. The retail portion of the issue was booked 9.07 times, the NII segment was subscribed 59.41 times, and the QIB portion was booked 81.83 times.
The company intends to use the net proceeds from this issue to prepay or repay a portion or all of its outstanding borrowings and for general corporate purposes.
Baazar Style Retail claims to have emerged as the fastest-growing value retailer from 2017 to 2023, leading in store count and revenue among listed value retailers, including V2 Retail Limited and V-Mart Retail Limited.
Investors who placed their bets on Baazar Style Retail IPO can check the share allotment status online on the issue's registrar's website or on the NSE and BSE websites. Link Intime India Private Ltd is the registrar for Baazar Style Retail IPO.
Step 1: Go to the IPO registrar website. You can follow this link- https://linkintime.co.in/Initial_Offer/public-issues.html
Step 2: Select the company name as "Baazar Style Retail IPO’ in the "Select Company" dropdown menu
Step 3: enter your PAN or application number or DP/Client ID or Account No.
Step 4: Click on Search
Your Baazar Style Retail IPO allotment status will be displayed on the screen.
Step 1: Go to the BSE's allotment page through this link: https://www.bseindia.com/static/investors/application_statuschecksystem.aspx
Step 2: Select 'Equity' in the 'Issue Type' section.
Step 3: From the drop-down menu, pick the IPO under 'Issue Name'.
Step 4: Enter your application number or PAN.
Step 1: Go to the official website of NSE using the following link- https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
Step 2: To register, click on the 'Click here to sign up' option and provide your PAN on the NSE website.
Step 3: Enter your username, password, and captcha code.
Step 4: After you are redirected to the next page, verify the status of your IPO allocation.
Baazar Style Retail IPO GMP (grey market premium) today is +65. This indicates Baazar Style Retail share price was trading at a premium of ₹65 in the grey market, according to investorgain.com.
Based on the upper end of the IPO price range and the current premium in the grey market, Baazar Style Retail's estimated listing price is predicted to be ₹454 per share, representing a 16.71 per cent increase from the IPO price of ₹389.
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