Explosive IPO Alert: Baazar Style Retail Set to Skyrocket with Double-Digit Gains for Investors | Market News

Baazar Style Retail IPO Listing Predicts Favorable Debut

As investors await Baazar Style Retail’s IPO listing on the BSE and NSE on September 6, 2024, the grey market premium (GMP) signals a positive start. Currently, the unlisted shares boast a premium of Rs 45, translating to an 11.57% increase above the IPO price of Rs 334. Although this is lower than the Rs 65 GMP observed on September 3, it still suggests a strong launch.

Should these trends continue, Baazar Style Retail shares may list at around Rs 434, offering investors a notable 11% gain per share. The IPO, priced between Rs 370-389 per share, showed robust investor interest, being subscribed 40.66 times, with high demand from Qualified Institutional Buyers (QIBs), non-institutional investors, and retail investors.

Renowned brokerages like Geojit and Swastika Investmart have given favorable reviews. The public issue includes a fresh issue of 3.8 million shares and an offer for sale of 17.65 million shares. Proceeds will be used for repaying certain borrowings and general corporate purposes, though the company will not benefit from the Offer for Sale proceeds.

Headquartered in Howrah, West Bengal, Baazar Style Retail operates over 135 stores across nine states, offering fashion for all ages and an extensive range of general merchandise.

Original Story https://www.business-standard.com/markets/news/baazar-style-retail-ipo-gmp-hints-double-digit-listing-gains-for-investors-124090500484_1.html
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