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New Delhi: The IPO of Bazaar Style Retail Limited, invested by famous investor Rekha Rakesh Jhunjhunwala, is getting tremendous response. It was opened for subscription on 30 August and was subscribed 0.73 times on the very first day. Investors can subscribe to it till 3 August. Its listing can happen by 6 September.
What is the price band of Bazaar style?
Bazaar Style Retail wants to raise Rs 834.68 crore from the IPO. The price band of this issue is Rs 370 to Rs 389. Retail investors will have to apply for at least 38 shares. As per the upper price band i.e. Rs 389, one will have to invest Rs 14,782 for 1 lot. Retail investors can bid for a maximum of 13 lots i.e. 494 shares. As per the upper price band, a total of Rs 1,92,166 will have to be invested. Bazaar Style will use the money received from the fresh issue of IPO to repay the loan and for general operations.
Rekha Jhunjhunwala will sell equity shares
In this IPO, Rekha Jhunjhunwala, wife of late investor Rakesh Jhunjhunwala, will sell 27.23 lakh equity shares under OFS. At the same time, Intensive Softshare Private Limited will sell 22.40 lakh shares and Intensive Finance Private will sell 14.87 lakh shares. Market Style has reserved 50 percent of the IPO for qualified institutional buyers (QIB). 35 percent is reserved for retail investors and the remaining 15 percent is reserved for non-institutional investors (NII).
What is the bazaar style price in grey market?
Bazaar style IPOs are getting a very good response in the grey market. Its grey market premium (GMP) is 33.42 per cent. According to this, the listing of bazaar style IPO can be up to Rs 519. The grey market is an unauthorised market. Here the demand or possible listing price of an IPO is estimated before listing. However, this is purely an estimate and the listing price may also be different from this.
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