Baazar Style Retail stock lists on a flat note, market cap rises to Rs 3,100 crore 

Shares of Rekha Jhunjhunwala-backed Baazar Style Retail listed on a flat note on BSE and NSE today.  The stock listed at Rs 389, similar to the IPO issue price of Rs 389 on BSE. Market cap of the firm rose to Rs 3,100 crore.

On NSE, the stock listed at Rs 389. Market cap of the firm climbed to Rs 3107 crore. Total 38.72 lakh shares of the firm changed hands amounting to a turnover of Rs 150.85 crore on the NSE.

The company offered its shares in a price band of Rs 370 to Rs 389 per share. The IPO was held from August 30 to September 3. The share sale was subscribed 40.66 times on the final day of bidding.

It received bids for 61.11 crore shares against 1.5 crore shares on offer on September 3, according to NSE data.

The retailer raised Rs 834.68 crore crore through the share sale. 

The IPO comprised fresh issue of equity shares worth Rs 148 crore and an offer for sale of Rs 686.68 crore worth equity shares by promoters and other shareholders. 

Lot size of the IPO was 38 shares for which one would have to spend Rs 14,782. A retail-individual investor could apply for up to 13 lots or 494 shares by spending Rs 192166. The allotment of shares was finalised on September 4.

Link Intime India Private Ltd was the registrar to the IPO.

Axis Capital, Intensive Fiscal Services Private Limited and JM Financial Limited were the book running lead managers to the IPO.

The company 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.