IPO is also coming with market style retail, know details

IPO: There is enthusiasm among both companies and investors regarding IPO in the Indian stock market. This month, IPOs of many companies came into the market which gave good returns to the investors. Now another great IPO is going to come in the market. It is being told that Kolkata-based value fashion retailer ‘Bazar Style Retail Limited’ has applied to SEBI to raise money through IPO. According to the draft red herring prospectus (DRHP) filed with SEBI, the IPO with a face value of Rs 5 per equity share will involve fresh issue of equity shares worth Rs 185 crore and offer for sale of up to Rs 1.68 crore.

What are the details of IPO?

According to media reports, Rekha Jhunjhunwala will sell 27.23 lakh equity shares under the offer for sale. Also, Intensive Softshare Private Limited will sell 22.40 crore shares and Intensive Finance Private Limited will sell 14.87 lakh shares. Stock reserve has also been kept for the employees of the company applying in IPO. According to the draft paper, the company is trying to collect pre-IPO Rs 37 crore. However, if this happens, a change in the size of the new issue is possible. Axis Capital Limited, Intensive Fiscal Services Private Limited and JM Financial Limited are the book-running lead managers. Whereas, Link Intime India Private Limited is the registrar to the issue.

Also Read: Flipkart got a big shock, know why its value decreased by Rs 41,000 crore in two years

What will the company do with the money?

Bazaar Style Retail Limited is going to use the funds from the IPO to repay the loan and for general corporate purposes. Let us tell you that this company is one of the leading players in the retail market in West Bengal and Odisha. The company’s focus is also on the markets of Assam, Bihar, Jharkhand, Andhra Pradesh, Uttar Pradesh and Chhattisgarh. As of December 2023, Karni had a total of 153 stores. The company had earned a net profit of Rs 5.10 crore in FY 2023. Whereas, last year the company had suffered a loss of about Rs 8.10 crore. It is understood that the company’s performance is going to be good this financial year also.
(Disclaimer: Investing in stock market or IPO is subject to market risk. Before investing in any share, take complete information from a good financial advisor. We are not motivating to invest in any company.)