Market Style has fixed the IPO price band at ?370-?389: This issue will be open from 30 August to 3 September; Rekha Jhunjhunwala is also selling her stake

Bazaar Style Retail Limited, a company owned by investor Rekha Rakesh Jhunjhunwala, has fixed the price of its upcoming IPO at ?370-?389. This initial public offering will open on August 30. Investors will be able to bid for this IPO till September 3. On September 6, the company’s shares will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). Bazaar Style Retail wants to raise a total of ?834.68 crore through this issue. For this, the existing investors of the company are selling 17,652,320 shares worth ?686.68 crore through Offer for Sale i.e. OFS. At the same time, the company is issuing 3,804,627 fresh shares worth ?148 crore. If you are also planning to invest money in it, then we are telling you how much you can invest in it. How much minimum and maximum money can you invest? Retail investors can bid for a minimum of one lot i.e. 38 shares. If you apply for 1 lot as per the upper price band of IPO of ?389, then you will have to invest ?14,782 for it. At the same time, retail investors can apply for a maximum of 13 lots i.e. 494 shares. For this, investors will have to invest ?192,166 as per the upper price band. 35% of the issue reserved for retail investors The company has reserved 50% of the issue for qualified institutional buyers (QIB). Apart from this, 35% is reserved for retail investors and the remaining 15% is reserved for non-institutional investors (NII). Rekha Jhunjhunwala is selling 27.23 lakh equity shares
Under the OFS, Rekha Rakesh Jhunjhunwala is selling 27.23 lakh equity shares. Apart from them, Intensive Softshare Private Limited will sell 22.40 lakh shares and Intensive Finance Private will sell 14.87 lakh shares. The company will use the funds raised from the IPO for general corporate purposes
According to RHP, the IPO is a combination of fresh issue and OFS. Therefore, the company will use the funds raised from the IPO for pre-payment or re-payment of some outstanding borrowings and for general corporate purposes.