Baazar Style Retail Limited IPO (Baazar Style Retail IPO) Review –
Baazar Style Retail Limited IPO (Baazar Style Retail IPO) is set to open from 30th Aug 2024 to 3rd Sept 2024. This article will analyze the financials , strengths and weaknesses of the Baazar Style Retail Limited IPO (Baazar Style Retail IPO). Keep scrolling below to read more!
Baazar Style Retail Limited IPO (Baazar Style Retail IPO) Overview –
Established in June 2013, Bazaar Style Retail Limited is a well known fashion retailer operating in West Bengal and Odisha’s organized value retail market. The company offers clothing for men, women, boys, girls, and infants in addition to general things such as non-apparels and home furnishing products.
The company focuses on providing a family-friendly shopping experience, offering quality products and striving to offer every Indian stylish merchandise at an affordable price.
As of March 31, 2024, the stores averaged 9,046 square feet and were staffed by qualified and well trained employees to improve the customer experience.
The company operates in Odisha, Bihar, Assam, Jharkhand, Andhra Pradesh, Uttar Pradesh, Tripura, and Chhattisgarh.
As of March 31, 2024, the company has expanded across 9 states and operates 162 stores.
As of March 31, 2024, The company had an in-house marketing team consisting of 13 employees.
The company has a strong designing and merchandising team of 57 personnel who have experience understanding and sensing the regional preferences of its target customers. They work to provide the customers with the latest market trends through their experience in the retail and textile industries.
Baazar Style Retail Limited IPO (Baazar Style Retail IPO) Synopsis-
Baazar Style Retail Limited IPO (Baazar Style Retail IPO) is set to be open from 30th Aug 2024 to 3rd Sept 2024, offering combination of fresh issue of 0.38 crore shares aggregating to Rs 148.00 crores and offer for sale of 1.77 crore shares aggregating to Rs 686.68 crores aggregating to Rs 834.68 crores. This NSE,BSE IPO follows a Book Built Issue IPO with tentative listing date fixed as Friday, September 6, 2024.
The total issue size of this IPO amounts to Rs. 834.68 Crores. The company has allocated shares 35% to retail investors, 50% to institutional and 15% to non institutional investors.
| Particulars | Details |
| Opening Date | 30th Aug 2024 |
| Closing Date | 3rd Sept 2024 |
| Lot Size | 38 Shares |
| Face Value | Rs. 5 |
| IPO Size | Rs. 834.68 Cr |
| Fresh Issue | Rs. 148.00 Cr |
| IPO Price Range | Rs. 370 – 389 |
| Min. Investment | Rs. 14,782 |
| Offer for Sale (OFS) | Rs. 686.68 Cr |
| Employee Discount | Rs 35 per share |
| Basis of Allotment | 4th Sept 2024 |
| Refunds | 5th Sept 2024 |
| Listing Date | 6th Sept 2024 |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
Baazar Style Retail Limited IPO (Baazar Style Retail IPO) Market Lot
Baazar Style Retail Limited IPO (Baazar Style Retail IPO) minimum market lot is 38 shares with ₹14,782 application amount. The retail investors can apply up to 13 lots with 494 shares or ₹192,166 amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 38 | ₹14,782 |
| Retail Maximum | 13 | 494 | ₹192,166 |
| S-HNI Minimum | 14 | 532 | ₹206,948 |
| B-HNI Minimum | 68 | 2,584 | ₹1,005,176 |
Baazar Style Retail Limited IPO (Baazar Style Retail IPO) Book Running Lead Managers –
- Axis Capital Limited
- Intensive Fiscal Services Private Limited
- JM Financial Limited
Baazar Style Retail Limited IPO (Baazar Style Retail IPO) Registrar to the offer –
The registrar for the Baazar Style Retail Limited IPO (Baazar Style Retail IPO) is Link Intime India Private limited. They are responsible for ensuring the IPO allotment and refund processes are carried out smoothly.
The Objective Of The Issue –
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by our Company.
- General corporate purposes.
Key Performance Indicator –
The market capitalization of Baazar Style Retail Limited is Rs 2902.55 Cr.
KPI as of March 31, 2024.
| Earning Per Share (EPS): Post IPO | ₹2.94 per Equity Share |
| Price/Earning P/E Ratio: Post IPO | 132.28 |
| Return on Net Worth (RoNW): | 10.32% |
| PAT Margin(%) | 2.23 |
| Net Asset Value (NAV): | ₹30.43 per Equity Share |
Financial Status –
The company reported revenue of ₹982.83 crores in 2024 against ₹794.39 crore in 2023. The company reported profit of ₹21.94 crores in 2024 against loss of ₹5.10 crores in 2023.
Below is the synopsis of the company’s financial data for the financial year that concluded on 31 March 2024.
The total assets of the company are Rs. 1165.97 crore.
The company’s total revenue is over Rs. 982.83 crore.
The company’s PAT is Rs. 21.93 crore.
The net worth of the company is Rs. 212.56 crore.
The company’s EBITDA is Rs. 142.14 crore.
| Particulars(in Rs. Crores) | FY 24 | FY 23 | FY 22 |
|---|---|---|---|
| Revenue From Operations | 982.83 | 794.38 | 561.13 |
| PAT | 21.94 | 5.10 | -8 |
| Net Worth | 215.12 | 193.58 | 143.77 |
| Total Assets | 1165.97 | N/A | N/A |
| Reserves and Surplus | 180.2 | N/A | N/A |
Valuation of P/E Ratio :
The P/E Ratio of Baazar Style Retail Limited IPO (Baazar Style Retail IPO) is 123.88
Comparative Analysis with Listed Peers :
The average P/E Ratio of the industry is 138.88x.
The P/E ratio of ECO Mobility IPO as compared with the industry’s average P/E of 22.28x has an overvaluation. Hence the price of the Share seems aggressively priced for the investors when considered based on the average P/E ratio of the industry.
Peers of Baazar Style Retail Limited IPO (Baazar Style Retail IPO) –
Baazar Style Retail Limited peer comparison with similar listed entities.
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | Financial statements |
|---|---|---|---|---|---|---|
| Baazar Style Retail Limited | 3.14 | 3.14 | 30.43 | 125.54 | 10.32 | Consolidated |
| V-mart Retail Ltd. | -48.93 | -48.93 | -12.98 | Consolidated | ||
| V2 Retail Ltd. | 8.04 | 8.04 | 79.42 | 138.88 | 10.12 | Consolidated |
Baazar Style Retail Limited IPO (Baazar Style Retail IPO) Strengths –
- One of the fastest growing value retailers in eastern India, with a market share in the organized value retail industry of 3.03% in West Bengal and 2.22% in Odisha.
- Company uses cluster-based approach to open new stores near pre-existing ones that accelerates store expansion.
- A keen awareness of consumer preferences to provide private label brands and a wide range of products at competitive prices that will win over new customers.
- A strong emphasis on company procedures and automation has led to high operational efficiency and a lean cost structure.
- Aimed marketing and promotion activities have increased brand visibility and gained customer loyalty.
- Expert promoters and an effective leadership team with a track record of success, supported by investors.
- A strong track record of financial growth.
Baazar Style Retail Limited IPO (Baazar Style Retail IPO) Weakness –
- Since the majority of its stores are located in eastern India, any unfavourable events might affect its business and earnings.
- The company’s primary focus is selling clothing and merchandise, and the volatility of shifting consumer tastes affects this operation.
- Its operations, financial situation, and business could suffer if it introduces any new private labels that are not as successful as it expects, even within its current product verticals.
- The retail and fashion industries are very competitive. The financial situation, operating results, and cash flows could all suffer if it is unable to effectively counter the competition.
- The company concentrates its business in a relatively narrow area as a result of using a cluster-based expansion approach.
- Demand from customers varies seasonally for several of its products.
Baazar Style Retail Limited IPO (Baazar Style Retail IPO) Status
Baazar Style Retail Limited IPO (Baazar Style Retail IPO) allotment status will be available on Link Intime’s website.
Click on Link Intime IPO weblink to get allotment status.
Baazar Style Retail Limited IPO (Baazar Style Retail IPO) GMP Today –
IPO’s last GMP is ₹126, last updated Aug 31st 2024. With the price band of 389.00, IPO’s estimated listing price is ₹515(cap price + today’s GMP). The expected percentage gain/loss per share is 32.39%.
Note : The GMP prices shown here are only news related to the grey market. We do not trade/deal in grey market or subject to rates, nor do we recommend trading in grey market.
Conclusion –
Hope the details presented in this blog will assist you in learning about the financial performance of the company. Before making an investment in the company’s upcoming initial public offering (IPO), thoroughly research the company, its finances, business prospects, and market trends.
Also, investors should consult their financial advisor, conduct further due diligence, analyze industry trends and the competitive landscape, and consider risk factors before making an investment decision.
For all such latest information on upcoming IPOs, keep visiting our website.
