Baazar Style Retail, a value fashion retailer, files for IPO with Sebi, aiming to raise ₹185 crore for debt repayment and general corporate purposes.
Baazar Style Retail, a value fashion retailer backed by Rekha Rakesh Jhunjhunwala, has filed for an IPO with Sebi, aiming to raise funds through a fresh issue of ₹185 crore and an offer-for-sale of up to 1.68 crore shares by promoter group entities and other selling shareholders. The retailer plans to use the fresh issuance proceeds for debt repayment and general corporate purposes. In the financial year 2023, Baazar Style Retail reported a profit of ₹5.1 crore, up from a net loss of ₹8.01 crore in the previous year, with a revenue from operations of ₹787.90 crore.
March 18, 2024
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