Baazar Style Retail debut Shares see at par listing on both NSE, BSE
The issue as against expectations saw a tepid listing in line with the weak global cues.
Baazar Style Retail listing: Shares of Baazar Style made an at-par listing against the IPO price of Rs 389 per share. On the NSE as well as the BSE, the stock listed at Rs 389 apiece.
The stock received a total subscription of 40.66 times, led by Qualified Institutional Buyers (QIBs), followed by non institutional investor category.
The issue has been backed by the ace investor Rekha Rakesh Jhunjhunwala.
Through the issue offering a total of 21.5 million shares on offer, the company aimed to prepay or repay all or a portion of certain outstanding borrowings availed by the company and general corporate purposes.
Anil Singhvi on IPO
The expert expected the stock to list in the range of Rs 435-450 range. Further, he advised to subscribe to the issue for long term. Also, short-term investors can keep SL at 410 to protect their gains, while long term investors must hold and consider buying fresh if comes around 400-410 range
About the company
Baazar Style Retail Ltd. was incorporated on June 3, 2013. The company is a value fashion retailer operating in the organized retail market in West Bengal and Odisha. The company offers two main categories: apparel (for men, women, boys, girls, and infants) and general merchandise (non-apparel items and home furnishings).
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.