IPO Details
Bidding Dates
30 Aug '24 - 03 Sep '24
Minimum Investment
₹14,782 / 1 Lot (38 Shares)
Price Range
₹370 - ₹389
Maximum Investment
₹192,166 / 13 Lot (494 Shares)
Retail Discount
To be announced
Issue Size
₹834.68 Cr
Investor category and sub category
Retail Individual Investors (RII) | Non-institutional Investors (NII) | Qualified Institutional Buyers (QIB) | Eligible employees |IPO Dates
Important dates with respect to IPO allotment and listing
Opening Date
Aug 30, 2024
Closing Date
Sep 3, 2024
Basis of Allotment
Sep 4, 2024
Initiation of Refunds
Sep 5, 2024
Listing Date
Sep 6, 2024
Cut-off time for UPI mandate confirmation
Sep 3, 2024
About Bazaar Style Retail Limited
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:
- 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.
- 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:
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company.
- General corporate purposes.
Peer Details
The companies considered by Bazaar Style Retail as its peers include:
- V-Mart Retail Limited
- V2 Retail Limited
How to Check the Allotment Status of the Bazaar Style Retail Limited IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
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
Particulars | Year ending on March 31, 2024 | Year ending on March 31, 2023 | Year ending on March 31, 2022 |
---|---|---|---|
Revenue from Operation (in ₹ million) | 9,728.82 | 7,879.03 | 5,511.18 |
Profit After Tax (PAT) (in ₹ million) | 219.42 | 51.02 | (80.07) |
Current Ratio (x) | 1.05 | 1.18 | 1.09 |
Net Worth (in ₹ million) | 2,125.63 | 1,910.22 | 1,412.11 |
Total Borrowings (in ₹ million) | 1,782.28 | 1,151.81 | 1,015.65 |
Return on Equity (%) | 10.74% | 3.02% | (6.86)% |
Return on Capital Employed (RoCE) (%) | 18.39% | 13.77% | 6.59% |
Earnings Per Share (in ₹) | 3.14 | 0.76 | (1.31) |
Know before investing
Strengths
6-
Fastest-growing value retailer in Eastern India with 3.03% market share.
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Expanded to 162 stores across 9 states by March 2024.
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Revenue grew at 32.86% CAGR from ₹5,511.18 million in FY 2022-2024.
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Cluster-based expansion strategy supports deep market penetration and efficiency.
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Private labels contributed 37.93% to revenue in FY 2024.
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Strategic store locations maximise visibility and customer footfall potential.
Risks
6-
87.32% of revenue comes from East India markets, geographical concentration.
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83.80% of revenue from apparel sales indicates heavy reliance on apparel.
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37.93% of revenue comes from private labels.
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Only 3.03% market share in organised value retail with high competition.
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641 suppliers, no long-term agreements in place, increase supply chain risk.
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Seasonal demand fluctuations; inventory turnover affected, 212 days in FY 2024.
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Bazaar Style Retail IPO FAQs
Bazaar Style Retail IPO is a book-built IPO. The IPO will be open from August 30, 2024, to September 3, 2024.
The Basis of Allotment will happen on Wednesday, September 4, 2024.
The IPO subscription window will open on August 30, 2024.
The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 38 shares.
The listing date for Bazaar Style Retail is Friday, September 6, 2024.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the ‘IPO’ section on the platform.
- Select IPO: Find and select the Bazaar Style Retail IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
- Multiple Submissions: Use different Demat accounts to make multiple applications.
- Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
- Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
To read Bazaar Style Reatil’s financial statements, download the IPO’s RHP document.