Mumbai: Shares of Rekha Jhunjhunwala-backed Baazar Style Retail Limited debuted on the exchange and closed at Rs 400 per share.
The scrip closed at Rs 399.65 per share on the BSE, a premium of 2.74% and at Rs 398.95 quote value per share on the NSE, a premium of 2.56%. As per NSE, the total quantity traded stood at 268.23 lakh shares, on BSE the total Quantity stood at 22.30 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 1188.01 crore.
The Market Capitalization of the Company at today’s closing price stood at Rs. 2,982.08 Crore as per BSE and Rs. 2,976.86 Crore as per NSE.
The company had offered Rs 834.68 crore issue for subscription from August 30 to September 3. This garnered substantial interest, and the offer was subscribed 40.63 times. Qualified Institutional Buyer and Non-Institutional Investors Portion was subscribed 81.83 times and 59.41 times respectively. Retail Portion was subscribed 9.07 times, whereas Employee Portion was subscribed 35.08 times.
Incorporated in 2013, Style Baazar had market share of 3.03% and 2.22%, respectively in organized value retail market in the states of West Bengal and Odisha, respectively as per The Technopak Report. It has the largest retail footprint in Eastern India when compared to the Listed Value Retailers in Fiscal 2024. The Company was the fastest growing value retailer between 2017 to 2024, in terms of both store count and revenue from operations, when compared to V2 Retail Limited and V-Mart Retail Limited (“Listed Value Retailers”) as per The Technopak Report. A majority of its stores are operated under the brand name ‘Style Bazaar’. It has developed its brand ‘Style Bazaar’ over the years, through a wide range of products, which it believes has resulted in strong customer loyalty and recognition.
The Kolkata-based Retailer offers bifurcated under the apparels and general merchandise verticals. Within the apparels vertical, it offers garments for men, women, boys, girls and infants, whereas its general merchandise offerings include both non-apparels and home furnishing products. It focuses on providing a family-oriented shopping experience, offering quality products and strive to offer every Indian stylish merchandise at an affordable price.
As of March 31, 2024, its stores had an average size of 9,046 square feet with trained staff to enhance customer experience.
Its product portfolio includes both apparels and general merchandise including cosmetics and imitation jewellery, consumer appliances, houseware products and bags, as highlighted below. The portfolio of apparels includes shirts, t-shirts, trousers, sarees, sports and active wear, winter wear, night wear, western ware, ethnic wear and accessories catering to the needs of men, women, children, and youngsters.
Baazar Style Retail's consolidated revenue from operations stood at ₹972.88 crore in fiscal 2024 and Profit after tax stood at ₹21.94 crore in fiscal 2024.