Today is the second day of Bazaar Style Retail Limited’s IPO: You can bid till September 3, minimum investment is ₹ 14,782

Today (September 2) is the second day of the Initial Public Offering (IPO) of Bazaar Style Retail Limited, a company owned by investor Rekha Rakesh Jhunjhunwala. This IPO was subscribed 0.73 times on the first day i.e. August 30. Investors can bid for this IPO till September 3. The company’s shares will be listed in the market on September 6.

Bazaar Style Retail wants to raise a total of ₹834.68 crore through this issue. For this, the existing investors of the company are selling 17,652,320 shares worth ₹686.68 crore through Offer for Sale i.e. OFS. At the same time, the company is issuing 3,804,627 fresh shares worth ₹148 crore.

If you are also planning to invest money in this, then we are telling you how much you can invest in this.

What is the minimum and maximum amount that can be invested?
Bazaar Style Retail Limited has fixed the price band of this issue at ₹370-₹389. Retail investors can bid for a minimum of one lot i.e. 38 shares. If you apply for 1 lot as per the upper price band of the IPO of ₹389, then you will have to invest ₹14,782 for it.

At the same time, retail investors can apply for a maximum of 13 lots i.e. 494 shares. For this, investors will have to invest ₹ 192,166 according to the upper price band.

35% of the issue is reserved for retail investors
The company has reserved 50% of the issue for qualified institutional buyers (QIB). Apart from this, 35% is reserved for retail investors and the remaining 15% is reserved for non-institutional investors (NII).

Premium of Bazaar Style Retail in Grey Market is 33.42%
Before listing, the company’s stock has reached a premium of 33.42% i.e. ₹ 130 per share in the grey market. In such a situation, according to the upper price band of ₹ 389, its listing can happen at ₹ 519. However, this can only be estimated, the price of the listing of the stock is different from the price of the grey market.

Rekha Jhunjhunwala is selling 27.23 lakh equity shares
Under OFS, Rekha Rakesh Jhunjhunwala is selling 27.23 lakh equity shares. Apart from her, Intensive Softshare Private Limited will sell 22.40 lakh shares and Intensive Finance Private will sell 14.87 lakh shares.

Investor Rekha Rakesh Jhunjhunwala, wife of late investor Rakesh Jhunjhunwala.

The company will use the funds raised from the IPO for general corporate purposes
According to the RHP, the IPO is a combination of a fresh issue and OFS. Therefore, the company will use the funds raised from the IPO for pre-payment or repayment of certain outstanding borrowings and for general corporate purposes.

What is IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering or IPO. The company needs money to expand its business. In such a situation, instead of taking a loan from the market, the company raises money by selling some shares to the public or by issuing new shares. For this, the company brings IPO.