Company Name: Bazaar Style
IPO Size: Fresh Issue of 0.38 crore shares and Offer for Sale of 1.77 crore shares
IPO Dates: 30 August, 2024 - 3 September, 2024
Price Band: ₹ 370-389
Lot Size: 38 Shares
Lead manager: Axis Capital Limited, Intensive Fiscal Services Private Limited & JM Financial Limited
Registrar: Link Intime India Private Limited
About the company:
Baazar Style Retail Limited was originally incorporated as "Dwarkadas Mohanlal Private Limited" in June 2013, under the Companies Act, 1956. The company’s name was later changed to "Baazar Style Retail Private Limited" in November 2013, reflecting its focus on the retail sector. In December 2021, it became a public limited company, adopting its current name, "Baazar Style Retail Limited."
Baazar Style Retail Limited operates a chain of retail stores under the brand name "Style Baazar," focusing on value retailing. The company offers a wide range of products across various categories, including:
Apparel: Men’s, women’s, and children’s clothing, catering to different fashion tastes and budgets.
Footwear: A variety of styles, from casual to formal, for all age groups.
Home Decor: Items including furnishings, kitchenware, and other household essentials.
The company’s retail strategy revolves around offering quality products at affordable prices, targeting the value-conscious segment of the Indian market.
The company’s operations are supported by a robust IT-driven supply chain and inventory management system, which ensures efficient stock management and reduces operational costs.
Emphasis is placed on maintaining strong supplier relationships to secure favorable procurement terms, which in turn helps in offering competitive pricing to customers.
The company is also expanding its reach through omni-channel retailing, combining physical stores with online platforms to cater to a broader audience.
Clientele:
Baazar Style Retail Limited primarily focuses on catering to the middle and lower-middle-income groups in India, segments that are highly price-sensitive and prioritize value for money in their purchases. To enhance customer retention and build loyalty, the company adopts a comprehensive customer lifecycle management approach. This strategy involves segmenting customers based on various factors such as demographics, purchase behavior, and shopping frequency, allowing the company to tailor its offerings to meet specific customer needs.
The company's marketing and promotional efforts are designed to attract and retain customers through targeted strategies that include discounts, loyalty programs, and personalized marketing communications. Visual merchandising is also a key component of Baazar Style Retail's retail strategy, with carefully designed in-store displays aimed at enhancing the shopping experience and driving sales.
Financial Performance: (Figures in Rupees Crores)
Objectives of the issue:
The company intends to use the Net Proceeds for the following purposes (collectively referred to as the "Objects"):
1. Prepaying or repaying, either fully or partially, certain outstanding borrowings of the Company.
2. Supporting general corporate purposes.
DISCLAIMER: All the information above is for educational purposes only and in any way is not a recommendation.
Top Management:
Pradeep Kumar Agarwal, a key Promoter of the Company, currently serves as the Chairman and Whole-time Director. He holds a bachelor's degree in law from the University of Calcutta and is a fellow member of the Institute of Chartered Accountants of India, having also cleared the examination by the Institute of Cost and Works Accountants of India. Associated with the Company since September 30, 2017, he brings extensive experience in operations, sales, and finance. Additionally, he is on the board of Sri Narsingh Infrastructure Private Limited and the Company's Subsidiary.
Rohit Kedia, one of the Promoters, currently holds the position of Whole-time Director in the Company. He earned a bachelor's degree in commerce from the University of Calcutta and has been associated with the Company since its inception. With experience in the garment industry, he also serves on the board of Flying Shuttle Private Limited.
Shreyans Surana, one of the Promoters of the Company, currently serves as the Managing Director. He is an associate member of the Institute of Chartered Accountants of India (ICAI) and has been with the Company since September 1, 2013. With expertise in strategic planning, Shreyans has prior experience with Zedd Retails Private Limited and Shreyans Creation Global Limited, where he continues to serve on the board.
