The company sold 64.29 lakh equity shares to 28 funds at Rs. 389 allocated at the rate of Rs. 250.1 crore, the data shows.
Rs. 835 crore initial public offering (IPO) will open for subscription on August 30 and close on September 3. Price Band Rs. 370-389 per share has been fixed.
The proposed IPO is Rs. 148 crore worth of fresh issue of equity shares and by promoter group entities and others Rs. 687 crore (at the upper end of the price band) worth up to 1.76 crore offering for sale (OFS) combined. Sale of Shareholders.
With this, the total issue size is at the upper end of Rs. 835 crore and a price band of Rs. 389 will happen.
Under OFS, Rekha Jhunjhunwala, Intensive Softshares Pvt Ltd, Intensive Finance Pvt Ltd, among others will sell their stake.
Proceeds from fresh issue, Rs. 146 crore will be used for debt repayment and the rest of the funds will be used for general corporate purposes.
Earlier this month, the Kolkata-based company in a pre-IPO placement round raised Rs. 37 crores were collected.
Accordingly, the size of the fresh issue was reduced. Bazaar Style Retail is one of the leading players in the value retail market in West Bengal and Odisha.
Additionally, its other core and focus markets include Assam, Bihar, Jharkhand, Andhra Pradesh, Tripura, Uttar Pradesh and Chhattisgarh.
Investors can bid for a minimum of 38 shares in a lot, with additional shares in multiples of 38.
Bazar Style Retail’s consolidated revenue from operations in FY24 was Rs. 972.88 crore and profit after tax in FY24 was Rs. 21.94 crores.
Axis Capital, Intensive Fiscal Services and JM Financial are the book-running lead managers of the issue.
(You can now subscribe to our ETMarkets WhatsApp channel)
