Baazar Style Retail IPO listing price prediction: As investors await the debut of Baazar Style Retail shares on the bourses, the grey market premium (GMP) indicates a favourable debut for the company’s shares on the BSE and NSE, scheduled for Friday, September 6, 2024. Ahead of the listing, the unlisted shares of Baazar Style Retail, whose IPO allotment was finalised yesterday, were quoted at a premium of Rs 45, or 11.57 per cent higher than the upper end of the issue price of Rs 334, according to several sources that track grey market activities.
The current GMP, however, is lower than the Rs 65 quoted on September 3, when the issue closed for subscription. Moreover, today’s grey market premium of Baazar Style Retail is less than the GMP it commanded on the opening day of the public issue, which was recorded at Rs 126.
Should the current grey market trends sustain, Baazar Style Retail shares may list on the BSE and NSE at around Rs 434 (upper end of IPO price + GMP). Thus, investors who have been allotted Baazar Style Retail shares can expect a gain of over 11 per cent per share upon listing.
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Available at a price band of Rs 370-389 per share, and a lot size of 38 shares, the public issue of Baazar Style Retail witnessed favourable investor interest, being subscribed 40.66 times. The highest demand came from Qualified Institutional Buyers (QIBs), who subscribed 81.83 times, followed by non-institutional investors (NIIs) who subscribed 81.83 times, and retail investors at 9.12 times by the close of the issue.
In its RHP papers, Baazar Style Retail mentioned that it will utilise the net proceeds towards the prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company and for general corporate purposes. The company, however, will not receive any proceeds from the Offer for Sale. The proceeds of the Offer for Sale will be received by the selling shareholders and will not form part of the net proceeds.
About Baazar Style Retail
Headquartered in Howrah, West Bengal, Baazar Style Retail is a multi-brand fashion hub with over 135 stores scattered throughout 9 Indian states. Catering to men, women, and children of all ages, this fashion empire offers an extensive range of stylish apparel along with a vast collection of general merchandise.
First Published: Sep 05 2024 | 1:06 PM IST
