Baazar Style Retail Ltd raises INR 37 crore from Volrado Ventures, reducing its pre-IPO round size to INR 148 crore.
Baazar Style Retail Ltd, a leading value retail market player in West Bengal and Odisha, raised INR 37 crore from Volrado Ventures Partners Fund II in a pre-IPO round, reducing its fresh issue size to INR 148 crore from INR 185 crore. The company plans to raise funds through an OFS component of up to 1.68 crore shares by promoter group entities and other selling shareholders. Baazar Style Retail reported a profit of INR 5.10 crore in FY2023, up from a net loss of INR 8.01 crore the previous year, with revenue rising to INR 787.90 crore. Axis Capital, Intensive Fiscal Services, and JM Financial are the book-running lead managers to the issue.
August 05, 2024
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