Baazar Style Retail Ltd IPO
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Baazar Style Retail Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| ₹ 214.57 L | ₹ 176.52 L | ₹ 75.01 L | ₹ 389.66 L | BSE | ₹ 834.68 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 30 Aug, 24 | 03 Sep, 24 | 38 | ₹ 14,060 | Book Building | 06 Sep, 24 |
Baazar Style Retail Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Trading |
| Sub Sector | NA |
| Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 32.73x | 10715620 | 350722938 |
| NII | 59.43x | 3214686 | 191037172 |
| Retail | 9.12x | 7500934 | 68383394 |
| Employee | 38.86x | 25707 | 998982 |
| Total | 28.48x | 21456947 | 611142486 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
Baazar Style Retail Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 102.73 | 66.59 | 43.00 |
| EBITDA | 176.18 | 127.78 | 96.05 |
| PAT | 21.99 | 5.10 | -8.01 |
| Total Assets | 627.67 | 462.52 | 412.09 |
| Share Capital | 34.93 | 34.93 | 33.29 |
| Total Borrowings | 327.57 | 247.48 | 176.91 |
| Operating Activities (Net Cash) | 95.44 | 66.29 | 45.04 |
| Investing Activities (Net Cash) | -6.91 | -1.53 | -2.65 |
| Financing Activities (Net Cash) | 327.57 | 247.48 | 176.91 |
| Net Cashflow | 14.85 | 5.14 | 24.48 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About Baazar Style Retail Ltd
Baazar Style Retail Limited was incorporated as Dwarkadas Mohanlal Private Limited, a private limited company under the Companies Act, 1956 on June 3, 2013, and was granted the certificate of incorporation by the Registrar of Companies, West Bengal at Calcutta (RoC). Subsequently, the name of the Company was changed to Baazar Style Retail Private Limited pursuant to a special resolution passed by the shareholders of the Company on November 21, 2013, and a fresh certificate of incorporation dated November 26, 2013 was issued by the RoC. Pursuant to the conversion of the Company into a public limited company and a special resolution passed by its Shareholders at the EGM on December 16, 2021, the name of the Company was changed to Baazar Style Retail Limited, and the RoC issued a fresh certificate of incorporation on January 6, 2022.
According to the Technopak Report, Value Retail in the apparel segment in India was estimated to be approximately Rs. 3,721.70 billion in Fiscal 2024. This market is expected to reach Rs. 5,341.25 billion by Fiscal 2027, growing at a CAGR of 13.9% from Fiscal 2023 to 2027. As of Fiscal 2024 the market size of Value Retailing industry (lifestyle and home) in the eastern and north-eastern states of India is estimated to be at Rs. 1,417.48 billion. The eastern states are the fastest growing consumer markets for Value Retail with an expected market size of Rs. 2,208.02 billion and grow at a CAGR of 15.9% from Fiscal 2024 to Fiscal 2027.
Baazar Style Retail Limited is a value fashion retailer with a market share of Rs. 4,822.74 million constituting 3.03% and Rs. 1,573.41 million constituting 2.22%, respectively in organized value retail market in the states of West Bengal and Odisha. The Company offers quality and affordable products under the apparels and general merchandise segments, through a chain of `value retail' stores. Within the apparels vertical, the company offers garments for men, women, boys, girls and infants, whereas its general merchandise offerings include both non-apparels and home furnishing products.
Peer Comparison:
- V-Mart Retail Ltd
- V2 Retail Ltd
Baazar Style Retail Ltd IPO Key Points
Strengths
- One of the fastest growing value retailer in eastern India with a market share of 3.03% and 2.22% in the states of West Bengal and Odisha, respectively in organized value retail market.
- Accelerated store expansion through a cluster-based approach.
- Strong understanding of customer preferences to offer a comprehensive, targeted and affordable product mix along with its private label brands leading to customer loyalty.
- High operational efficiency and lean cost structure due to strong focus on business processes and automation.
- Targeted marketing and promotion activities enabling increasing brand salience and garnering customer loyalty.
Risk
- Geographical Concentration of Business: Its stores are concentrated in the eastern parts of India and any adverse developments affecting the company operations in this state could have an adverse impact on its revenue and results of operations.
- Products Concentration: Its business is concentrated on sale of the company apparel and merchandise products and subject to the unpredictability of changing customer preferences.
- If any new private labels, including under its existing products verticals, that the company launch are not as successful as its anticipate, its business, results of operations and financial condition may be adversely affected.
Strategy
- Expand profit margins and increase revenue contribution from its private labels. Focus towards creating differentiation and achieving greater control over product quality of private labels.
- Strengthen its market position by increasing penetration in existing clusters, expand its footprint in the Focus Markets, increase focus on customer retention and garnering brand loyalty.
- Continue to invest in its technology adoption initiatives, data analytical capabilities and implementation of omni-channel retailing business model.
- Continue to invest in strengthening its supply chain management and human capital to further reduce its operating costs.
- One of the fastest growing value retailer in eastern India with a market share of 3.03% and 2.22% in the states of West Bengal and Odisha, respectively in organized value retail market.
- Accelerated store expansion through a cluster-based approach.
- Strong understanding of customer preferences to offer a comprehensive, targeted and affordable product mix along with its private label brands leading to customer loyalty.
- High operational efficiency and lean cost structure due to strong focus on business processes and automation.
- Targeted marketing and promotion activities enabling increasing brand salience and garnering customer loyalty.
How To Apply for Baazar Style Retail Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.