Evaluating the Baazar Style Retail IPO: Is It Worth a Bid on Opening Day with GMP at 33%?

Baazar Style Retail IPO: Today is the public subscription opening for Baazar Style Retail's first public offering. A book-built issue of Rs 834.68 crore, the Baazar Style Retail IPO consists of an offer for sale and a fresh issue of 3,804,627 shares, with investors and promoters dumping 17,652,320 shares at a face value of Rs 5.
Baazar Style Retail reported on August 29, 2024, that it has raised Rs 250.10 crore from anchor investors prior to the public issue opening for subscription.

 
Retail IPO grey market premium in the Baazar style (GMP)

 On the first day of their launch, the unlisted shares of Baazar Style Retail are still selling for a significant premium in the grey market. At the upper end of the IPO price, Baazar Style Retail shares were trading at a premium of Rs 130, or 33.42 percent higher, suggesting a strong market mood towards the IPO. On August 27, 2024, it was revealed that the GMP of the Baazar Style Retail IPO had decreased from Rs 141, or 36.25 percent.

Timeline of the Baazar Style Retail IPO

The subscription period for the Baazar Style Retail IPO, which has a price range of Rs 370–389 and a lot size of 38 shares, will expire on Tuesday, September 3, 2024.


The company's shares will be credited to demat accounts on Thursday, September 5, 2024, following the end of the IPO subscription window. The basis for allotment of Baazar Style Retail shares is anticipated to occur on Wednesday, September 4, 2024. On Friday, September 6, 2024, Baazar Style Retail shares are expected to list on the BSE and NSE.