Bazaar Style Retail IPO

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?

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1. Log in to the Angel One app
2. Go to the IPO Section and then to IPO Orders.
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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

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Strengths

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

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.