Key Points
The Baazar Style Retails IPO, with a face value of 5 each, comprises a combination of a fresh issue amounting to up to 185 crore and an offer for sale of up to 16.88 million shares by the promoter group and other selling shareholders...
Rekha Rakesh Jhunjhunwala-backed Baazar Style Retails has submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (Sebi) in pursuit of raising capital from the public issue..
The offer for sale entails the sale of equity shares by various entities, including 2.72 million shares by Rekha Rakesh Jhunjhunwala, 2.24 million shares by Intensive Softshare Private Limited, 1.49 million shares by Intensive Finance Private Limited, and others such as Chandurkar Investments Private Limited, Subroto Trading & Finance Company Limited, Rajnish Gupta, Madhu Surana, Sabita Agarwal, Rekha Kedia, Shakuntala Devi, and D.K Surana HUF, each offering varying quantities of shares..
The company in consultation with the book-running lead managers, may contemplate an additional issuance of specified securities through various methods such as private placement, rights issue, preferential offer, or other means, with an aggregate value of 37 crore, labeled as a "pre-IPO placement.".
The Kolkata-based company is backed by investors including Rekha Rakesh Jhunjhunwala, the wife of Late Rakesh Jhunjhunwala, Kewal Kiran Clothing Limited, Manohar Lal Agarwal, promoter of Haldiram Snacks, Boon-family office of Supreme Industries, Intensive Softshare Private Limited, D.K. Surana, Ajay Kumar Jain and Sanjay Kumar Jain, partners of J.K. Jain Sparky (India) LLP. ..
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