Rekha Jhunjhunwala's supported company bringing IPO!!!
Rekha Jhunjhunwala's supported company bringing IPO!!!
Rekha Jhunjhunwala is counted among the big investors of the market. The success of the company in which she invests is almost certain. Now, her supported company Baazar Style Retail is going to enter the market. Investors were waiting for its IPO for a long time. Subscription of the company's IPO will open on 30 august and you can invest in it till 3 September.
Fresh equity shares worth Rs 148 crore will be launched in the market
This company runs a retail store named Style Baazar. According to the document submitted to market regulator SEBI, the company is going to announce the price band of its IPO on 27 August. The listing of the IPO can happen on 6 September. In this IPO, fresh equity shares worth Rs 148 crore will be launched in the market. Apart from this, the promoters and other big investors will launch 1.7 crore equity shares in the market through Offer for Sale.
Apart from rekha Jhunjhunwala, many promoters will sell stake
Rekha Jhunjhunwala will also sell 27.23 lakh equity shares in the offer for sale. Apart from this, Intensive Softshare is going to sell 22.40 lakh and Intensive Finance is going to sell 14.87 lakh shares. Kolkata's Bazaar Style Retail is known as a budget fashion retailer. The anchor book of the company's IPO will open on august 29. Axis Capital, Intensive Fiscal services and JM Financial have been appointed as the book running lead managers of the IPO. Link Intime india will be its registrar. The company will use the money coming from the IPO to repay debt and meet corporate purposes.
Profit of Bazaar Style Retail is increasing, income also jumped
The total income of the company for the financial year 2024 was Rs 982 crore. This is 23 percent more than Rs 794 crore in FY 2023. Also, the net profit of Bazaar Style Retail has also increased from Rs 5 crore to Rs 21 crore. This company is doing better in the markets of bengal and Odisha. The company has 162 stores here. Along with clothes, home decor items are also available in these. The company is known for providing good quality at low prices.