Today (September 2) is the second day of the initial public offering (IPO) of Bazaar Style Retail Limited, a company in which investor Rekha Rakesh Jhunjhunwala has a stake. The IPO was subscribed 0.73 times on the first day i.e. 30th August. Investors can bid for this IPO till September 3. The shares of the company will be listed in the market on September 6. Bazaar Style Retail intends to raise a total of ₹ 834.68 crore through the issue. For this, 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 new shares worth ₹148 crore. If you are also thinking of investing in it, we are telling you how much you can invest in it… What is the minimum and maximum amount that can be invested? Bazaar Style Retail Limited has fixed the issue price band at ₹370-₹389. Retail investors can bid for a minimum of one lot i.e. 38 shares. If you apply for 1 lot at the IPO's upper price band of ₹389, you will have to invest ₹14,782. While retail investors can apply for a maximum of 13 lots i.e. 494 shares. For this, investors have to invest ₹192,166 as per the upper price band. 35% of the issue reserved for retail investors The company has reserved 50% of the issue for Qualified Institutional Buyers (QIB). Apart from this, 35% shares are reserved for retail investors and the remaining 15% shares are reserved for non-institutional investors (NIIs). Market style retail premium in gray market 33.42% Pre-listing, the company's shares have touched a premium of 33.42% i.e. ₹130 per share in the gray market. In such a scenario, according to the upper price band of ₹389, it may be listed at ₹519. Although this can only be estimated, the listing price of a share is different from the gray market price. Rekha Jhunjhunwala selling 27.23 lakh equity shares Rekha Rakesh Jhunjhunwala selling 27.23 lakh equity shares under OFS. Apart from them, Intensive Softshares Pvt Ltd will sell 22.40 lakh shares and Intensive Finance Pvt 14.87 lakh shares. The company will use the funds raised from the IPO for general corporate purposes According to RHP, an IPO is a combination of fresh issue and OFS. Therefore, the company will use the funds raised from the IPO for prepayment or repayment of certain outstanding borrowings and for general corporate purposes. What is an IPO? When a company issues its shares to the general public for the first time, it is called an initial public offering or IPO. A company needs money to grow its business. In such a situation, the company raises money by selling some shares to the public or by issuing new shares instead of borrowing from the market. For this the company brings IPO.
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Today is Day 2 of Bazar Style Retail Limited's IPO: You can bid till September 3, minimum investment ₹ 14,782
