Baazar Style Retail IPO Subscription Status

Baazar Style Retail IPO - Day 3 Subscription at 40.63 Times

Baazar Style Retail's initial public offering (IPO) has garnered exceptional investor interest, with subscription rates soaring over the three days. Starting modestly on day one, the IPO witnessed a dramatic surge in demand, resulting in an impressive 40.63 times oversubscription by the close of day three. This remarkable response underscores the strong market appetite for Baazar Style Retail's shares and sets the stage for a potentially dynamic listing.

The IPO, which opened on 30th August 2024, has seen exponential growth in investor participation across all categories. The Qualified Institutional Buyers (QIB) segment, in particular, has shown overwhelming demand, while the Non-Institutional Investors (NII) and Employee categories have also demonstrated strong interest. The retail segment has also shown solid participation.

This enthusiastic response to Baazar Style Retail's IPO comes amid positive sentiment in the Indian stock market, particularly towards companies in the fashion retail sector. The company's focus on providing affordable, stylish merchandise for the whole family appears to have strongly resonated with investors looking for exposure to India's growing retail industry.

Subscription Status of Baazar Style Retail IPO for Days 1, 2, and 3:

On day 1, Baazar Style Retail IPO was subscribed 0.73 times. By the end of day 2, the subscription status had risen to 4.68 times; on day 3, it skyrocketed to 40.63 times.

Here are the subscription details for Baazar Style Retail IPO as of Day 3 (3rd September 2024 at 5:47:08 PM):

Note:

"Shares Offered" and "Total Amount" are calculated based on the upper price of the issue price range. 
** The portion of anchor investors is not included in the total number of shares offered.

Key Highlights:

• The IPO of Baazar Style Retail is currently subscribed 40.63 times, with exceptional demand across investor categories.
• Qualified Institutional Buyers (QIB) have shown overwhelming interest, with a subscription ratio of 81.83 times.
• Non-Institutional Investors (NII) have demonstrated strong enthusiasm, with a subscription ratio of 59.41 times.
• The Employee category has shown significant interest with a subscription ratio of 35.08 times.
• Retail investors have shown solid participation, with a subscription ratio of 9.07 times.
• The overall subscription trend dramatically increases day-on-day, indicating extremely high investor confidence and positive sentiment towards the issue.

Baazar Style Retail IPO - Day 2 Subscription at 4.68 Times

Key Highlights:

• On Day 2, Baazar Style Retail's IPO was subscribed 4.68 times, with strong demand from Non-Institutional Investors (NII) and the Employee category.
• Non-institutional investors showed significantly increased interest, with a subscription ratio of 11.66 times, a dramatic increase from the previous day.
• The Employee category continued to show strong interest, with a subscription ratio of 20.94 times.
• Retail investors showed growing interest with a subscription ratio of 3.81 times, more than quadrupling their subscription from the previous day.
• Qualified Institutional Buyers (QIB) showed slightly increased interest with a subscription ratio of 0.84 times.
• The overall subscription trend indicated building momentum, with all investor categories showing increased participation.

Baazar Style Retail IPO - Day 1 Subscription at 0.73 Times

Key Highlights:

• The IPO of Baazar Style Retail was subscribed 0.73 times on Day 1, with strong initial demand from the Employee category.
• The Employee category showed exceptional early interest with a subscription ratio of 6.26 times.
• Retail investors showed moderate initial interest with a subscription ratio of 0.85 times.
• Qualified Institutional Buyers (QIB) showed initial interest with a subscription ratio of 0.70 times.
• Non-Institutional Investors (NII) showed modest initial interest with a subscription ratio of 0.47 times.
• The first-day response laid a foundation for the remaining days of the IPO, with expectations of increased participation in the following days.
• Market observers noted that the opening day response reflected cautious optimism in the company's business model and growth prospects in the fashion retail sector.

About Baazar Style Retail IPO:

Baazar Style Retail Limited, incorporated in June 2013, is a fashion retailer operating primarily in West Bengal and Odisha. The company offers a wide range of products including:

• Apparel for men, women, boys, girls, and infants
• General merchandise, such as non-apparel and home furnishing products
• Key features of Baazar Style Retail:
• Focuses on providing a family-oriented shopping experience
• Offers quality products at affordable prices
• As of March 31, 2024, it operates 162 stores across nine states
• Average store size of 9,046 square feet
• The in-house marketing team of 13 personnel
• Strong designing and merchandising team of 57 personnel
• The company has expanded its operations to Odisha, Bihar, Assam, Jharkhand, Andhra Pradesh, Uttar Pradesh, Tripura, and Chhattisgarh.

Highlights of the Baazar Style Retail IPO:

• IPO Date: 30th August 2024 to 3rd September 2024
• Listing Date: 6th September 2024 (Tentative)
• Face Value: ₹5 per share
• Price Band: ₹370 to ₹389 per share
• Lot Size: 38 Shares
• Issue Size: 21,456,947 shares (aggregating up to ₹834.68 Cr)
• Fresh Issue: 3,804,627 shares (aggregating up to ₹148.00 Cr)
• Offer for Sale: 17,652,320 shares (aggregating up to ₹686.68 Cr)
• Employee Discount: ₹35 per share
• Issue Type: Book Built Issue IPO
• Listing At: BSE, NSE
• Minimum investment for retail investors: ₹14,782
• Minimum investment for sNII: ₹206,948 (14 lots, 532 shares)
• Minimum investment for bNII: ₹1,005,176 (68 lots, 2,584 shares)
• Book Running Lead Managers: Axis Capital Limited, Intensive Fiscal Services Private Limited, JM Financial Limited
• Registrar: Link Intime India Private Ltd
• The IPO includes a reservation of up to 28,248 shares for employees offered at a discount of ₹35 to the issue price.