Rekha Jhunjhunwala-backed Baazar Style Retails files DRHP with SEBI to raise funds via IPO

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₹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. Also read: Popular Vehicles and Services IPO to debut on the bourses tomorrow; here's what GMP indicates ahead of listing 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.

Additionally, eligible employees have a reservation for subscription. 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." Should such placement transpire, it will result in a reduction in the size of the fresh issue.

The offer will be made via the book-building process, where at least 75% of the net offer will be allotted proportionately to qualified institutional buyers, up to 15% of the net offer will be available for non-institutional investors, and a maximum of 10% of the net offer will be allocated to retail individual investors. The proceeds from the fresh issuance, amounting to ₹135 crore, will primarily be allocated towards prepayment or partial repayment of certain outstanding