Bazaar Style Retail IPO allotment: Check application status, GMP & listing date

Baazar Style Retail is scheduled to finalize the basis of allotment of its shares on Wednesday, September 04. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate lasted by Thursday, September 05. The Rekha Jhunjhuwala-based IPO of the retail chain had received a decent response from the investors.
 

The IPO of Baazar Style Retail was open for bidding between August 30 and September 03. The company had offered its shares in the fixed price band of Rs 370-389 per share with a lot size of 38 shares. The company raised a total of Rs 834.68 crore from its IPO, which included a fresh share sale of up to Rs 148 crore and an offer-for-sale (OFS) up to 1.76 crore shares.
 

The issue was overall subscribed a total of 40.66 times, thanks to a strong push from qualified institutional bidders (QIBs), whose quota was booked 81.83 times. The quota for non-institutional investors was subscribed 59.43 times. The portions reserved for retail investors and employees saw bidding for 9.12 times and 35.36 times during the bidding process.
 

Grey market premium (GMP) of Baazar Style Retail has remained stable amid the volatile market sentiments. Last heard, the company was commanding a premium of Rs 65 per share, suggesting a listing pop of nearly 17 per cent for the investors. However, it was around Rs 85 when the issue had opened for bidding.
 

Incorporated in June 2013, Bazaar Style Retail Limited is a fashion retailer operating in West Bengal and Odisha. The company offers apparel for men, women, boys, girls, and infants and general merchandise such as non-apparels and home furnishing products. It operates in Odisha, Bihar, Assam, Jharkhand, Andhra Pradesh, Uttar Pradesh, Tripura, and Chhattisgarh.
 

Brokerages were mostly positive on the issue suggesting investors to subscribe to it for a long term citing their market share, solid growth, operationally efficiency, strong management experience and push for its own labels. However, a major OFS portion, regional concentration in a single region and rich valuations are the key concerns for the company.
 

JM Financial, Axis Capital and Intensive Fiscal Services are the book running lead managers of the Baazar Style Retail IPO, while Link Intime India is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE, with Friday, September 6 as the tentative date of listing.
 

Investors, who had bid for the issue of Baazar Style Retail, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select Baazar Style Retail Limited in the dropbox

4) Write the application number

5) Add the PAN card ID

6) Click on 'I am not a Robot' and hit search button
 

Investors can also check the allotment status on the online portal of Link Intime India (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.
 

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.

1) Go to the web portal of Link Intime Limited

2) Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized

3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2

6) For security purposes, fill the captcha accurately

7) Hit submit.