Baazar Style Retail IPO: The allotment status for this Rekha Jhunjhunwala-backed initial public offering (IPO) is out, and now share allottees are eagerly waiting for the Baazar Style Retail IPO listing date, which is most likely on 6th September 2024 i.,e. tomorrow. The Indian stock market observers expect a share listing on Friday as the 'T+3' listing rule will become mandatory on 1st December 2023. In the wake of this IPO listing rule, Baazar Style Retail IPO has to list on the third working day post-closure of bidding. Baazar Style Retail IPO subscription ended on 3rd September 2024. Hence, the market expects the Baazar Style Retail IPO listing date to be 6th September 2024.
Meanwhile, grey market sentiments have remained steady ahead of the announcement of the Baazar Style Retail IPO listing date and the post-declaration of Baazar Style Retail IPO allotment status. According to stock market observers, shares of the company are available at a premium of ₹64 in the grey market today. Baazar Style Retail IPO GMP (grey market premium) today is ₹64. Market observers said that Baazar Style Retail IPO GMP has been oscillating in the ₹60 to ₹65 range for the last few days after the end of its subscription date. They said a bullish trend on Dalal Street and an overcrowded primary market could be the reason for this. They told the grey market is signalling a positive debut of Baazar Style Retail shares on Dalal Street.
Market observers said that the Baazar Style Retail IPO GMP today is ₹64, which means the grey market expects the listing price to be around ₹453 ( ₹389 + ₹64). So, the grey market is signalling a 16 per cent listing gain for the lucky share allottees.
However, stock market experts maintained that GMP should not be taken seriously as it is non-regulated data that has nothing to do with the company's balance sheet. They said that GMP can be artificial as it involves even those with a high stake in the public issue. After scanning the company's financials, they advised allottees to stick with the basics and remain glued to their convictions.
As per the Red Herring Prospectus of Baazar Style Retail IPO, Rekha Jhunjhunwala has offered her 2,723,120 equity shares in this mainboard IPO. These offered shares aggregating to ₹1,05,92,93,680 or around ₹106 crore. According to the RHP of Baazar Style Retail IPO available on SEBI's website, Rekha Jhunjhunwala's name is on the list of Investor Selling Shareholders. She has offered her shares under the OFS route.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
