Baazar Style Retail IPO: Subscribe for long term, says Anil Singhvi

Baazar Style Retail IPO opens: The Rs 165 crore IPO of the retail company backed by Rekha Rakesh Jhunjhunwala has opened for public subscription today. The issue is offering 16.9 million shares on offer for sale until September 3.

Through the issue, the company aims to use the proceeds towards prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company and other general corporate purposes.

Bazaar Style Retail was incorporated on 3 June 2013. It is a value fashion retailer.

Company's financials

The company for the nine-month ended December quarter of FY24 posted net profit of Rs 28.38 crore, while the revenue from operations stood at Rs 794 crore.

Anil Singhvi's view on the latest IPO

The expert has recommended to subsctibe the issue for long term and listed the below positives and negatives, here below is the summary:

Positives

Negatives