Baazar Style Retail is set to list its shares on the stock market today after a highly popular IPO that saw strong demand. Backed by investor Rekha Jhunjhunwala, the company’s shares will start trading on the BSE and NSE.
The IPO opened on August 30 and closed on September 3, with the final share allotment on September 4. The shares will be available for trading starting at 10:00 AM today, September 6.
Ahead of the listing, Baazar Style’s shares are trading with a ₹64 grey market premium (GMP), signaling a potential listing price of ₹453 per share, a 16% increase over the IPO price of ₹389.
Stock market experts predict a positive listing for Baazar Style shares, with estimates of a 10-15% gain over the issue price. However, some analysts warn that while the company has strong growth potential, its high valuation may limit investor enthusiasm.
Baazar Style Retail’s IPO raised ₹834.68 crore, with a mix of new shares and an offer for sale by existing investors. The public issue was subscribed over 40 times, with retail investors and institutional bidders showing strong interest.
Despite the high valuation, analysts expect Baazar Style to have a successful stock market debut, but advise investors to book short-term profits.
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