Bazaar Style Retail IPO share allotment expected today: Steps to check status on NSE, Link Intime

The share allotment status of Baazar Style Retail IPO is expected to be finalised on Wednesday, September 4. The mainboard public issue closed for bidding on Tuesday.

The investors who participated in the IPO subscription are waiting for the share allotment status to be finalised after the end of the bidding period.

Baazar Style Retail IPO was subscribed 40.63 times over three days of bidding. Investors applied for 61.07 crore shares against the 1.5 crore shares up on offer.

The Qualified Institutional Buyers (QIBs) quota saw the highest demand as the category was subscribed 81.83 times. The non-Institutional Investors (NIIs) booked their portion 59.41 times, while the retail investors subscribed their quota 9.07 times.

Investors awaiting the IPO share allotment status can check the details of the share allocation on the websites of the NSE and BSE, as well as the registrar Link Intime India Pvt Ltd.

Steps to check Baazar Style Retail IPO allotment status on registrar’s website

• Go to the registrar’s website at https://www.linkintime.co.in/
• Select the Investor Services option from the dropdown menu
• Next, click on public issues option
• From the list of company names, select Baazar Style Retail Limited
• Enter all the necessary details like your PAN and application number
• Click on submit to view the allotment status

Here’s How to check Baazar Style Retail IPO allotment status on NSE website

• Navigate to the NSE IPO allotment status page www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Log in with your username and password. You need to create an account on the NSE website if you already do not have one, to check the status
• Select Baazar Style Retail Limited from the drop down menu for the issue name.
• Now, verify your PAN
• Enter your IPO application no
• Lastly, click on Submit to view the allotment details

You can also check the Baazar Style Retail IPO allotment status on the BSE website using your PAN, application number, and bank account details.

Baazar Style Retail IPO key details

The Baazar Style Retail IPO was open for subscription from August 30 to September 3. The Rekha Jhunjhunwala-backed company aims to raise ₹834.68 through the public offer. The IPO was a mix of a fresh issuance and an offer-for-sale component. The fresh issue had shares worth ₹148 crore, while the OFS component had 1.76 crore shares aggregating to ₹687 crore.

The Baazar Style Retail IPO price band was set at ₹370-₹389 per equity share. The minimum lot size was 38 shares, aggregating to ₹14,782 for the retail investors.

After the share allotment, refunds will be initiated for unsuccessful bidders on September 5, and the shares will be credited to the allottees' demat accounts the same day.

Baazar Style Retail IPO listing date has been tentatively fixed as September 6. The stock will be listed on the NSE and BSE.

Baazar Style Retail IPO objective

Baazar Style Retail Limited will use the funds raised from its IPO to repay or prepay all or part of certain outstanding borrowings. The funds will also be used for general corporate purposes.

About Baazar Style Retail Limited

Baazar Style Retail Limited caters to markets including in Assam, Jharkhand, Bihar, Tripura, Andhra Pradesh, Chhattisgarh and Uttar Pradesh. It is a value retail chain that primarily offers apparels for men, women, boys and girls. The company also offers home furnishing and other products.

As of March 31, 2024, the company operated 162 stores in over 140 cities under its brand name, Style Bazaar.