Baazar Style Retail IPO listing date today: GMP, analysts signal decent stock market debut of shares

Baazar Style Retail IPO Listing: The initial public offering (IPO) of Baazar Style Retail saw strong demand for investors during its subscription period. The Rekha Jhunjhunwala-backed Baazar Style Retail IPO listing date is today and the shares will be listed on BSE and NSE.

Baazar Style Retail IPO opened on August 30 and closed on September 3. The IPO allotment was finalised on September 4 and the company has fixed the Baazar Style Retail IPO listing date today, September 6.

“Trading Members of the Exchange are hereby informed that effective from Friday, September 6, 2024, the equity shares of Baazar Style Retail Limited shall be listed and admitted to dealings on the Exchange in the list of ‘B’ Group of Securities,” a notice on BSE said.

Baazar Style Retail shares will be a part of Special Pre-open Session (SPOS) and will be available for trading from 10:00 am.

Ahead of the Baazar Style Retail share listing, investors Baazar Style Retail IPO GMP today, or grey market premium today, to estimate the listing price. The trends in the grey market signal a decent listing for Baazar Style Retail IPO, while analysts also expect the Baazar Style Retail shares to see a positive listing.

Baazar Style Retail GMP

Baazar Style Retail IPO GMP today ahead of listing is ₹64 per share, according to stock market observers. This indicates that Baazar Style Retail shares are trading higher by ₹64 in the grey market today as compared with its IPO price.

Baazar Style Retail IPO Listing Price

Considering the Baazar Style Retail IPO GMP today and the issue price, the estimated Baazar Style Retail share listing price is ₹453 apiece, a premium of over 16% to the issue price of ₹389 per share.

Stock market experts also expect a bullish Dalal Street debut for Baazar Style Retail shares on the back of strong subscription data.

“Despite expensive valuation and higher OFS offer, Baazar Style Retail received a decent 40x subscription demand considering the market optimism and ongoing IPO demand and listing performances. Considering markets’ muted mood and decent subscription demand, we expect a decent listing gain around ~10-15% against the issue price of ₹389 per share in the best case scenario. We had recommended our investors to “Subscribe with risk”, understanding the nuances of fashion trends and regional preferences remains a critical challenge. Hence recommend allotted investors to choose booking profits on the listing,” said Prashanth Tapse, Sr VP Research – Research Analyst at Mehta Equities Ltd.

Shivani Nyati, Head of Wealth at Swastika Investmart Ltd. believes the strong market demand may support the Baazar Style Retail IPO listing, but high valuation could temper investor enthusiasm.

“Bazaar Style, a rapidly growing value retailer, is set for a positive stock market listing. The IPO received strong investor interest, with a subscription rate of 40.63 times and a GMP of 45 (11.57%). The company's impressive growth trajectory, margin improvement, and robust financial performance bode well for its future. However, the IPO's valuation is on the higher side, which could temper investor enthusiasm. While strong market demand is likely to support a positive listing, investors may prioritize short-term gains due to valuation concerns. A cautious approach is recommended, balancing the company's growth potential with the valuation risks,” Nyati said.

Akriti Mehrotra, Research Analyst, Stoxbox also said Baazar Style Retail is poised for a decent market debut and expects the stock to list at a 15% premium.

Baazar Style Retail IPO Details

Baazar Style Retail IPO opened for public subscription on August 30 and closed on September 3. The IPO allotment was finalized on September 4 and the Baazar Style Retail IPO listing date is today, September 6. The shares of Baazar Style Retail will be listed on both the stock exchanges, BSE and NSE.

The company raised ₹834.68 crore from the book-built issue which was a combination of fresh issue of 38.04 lakh shares worth ₹148.00 crore and offer for sale (OFS) of 1.77 crore shares aggregating to ₹686.68 crore. The shares were sold at a price band of ₹370 to ₹389 per share.

Baazar Style Retail IPO was subscribed 40.66 times in total. The public issue received 9.12 times subscription in the retail category and 81.83 times in the qualified institutional bidders (QIBs) category. The non-institutional investors (NII) portion was booked 59.43 times and the employees category saw 35.36 times subscription.

Axis Capital, Intensive Fiscal Services Pvt Ltd and JM Financial are the book running lead managers of the Baazar Style Retail IPO, while Link Intime India Private Ltd is the IPO registrar.

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