Value fashion retailer Baazar Style raises Rs 250 cr from anchor investors

Value fashion retailer Baazar Style Retail Ltd on Thursday said it has collected Rs 250 crore from anchor investors, a day before its initial share-sale opening for public subscription.

Ashoka India Equity Investment Trust Plc, Volrado Venture Partners Fund IV Gamma, HSBC Global Investment Funds, Allianz Global Investors Fund, Al Mehwar Commercial Investments LLC, HDFC Mutual Fund (MF), HSBC MF, Bandhan MF and Bajaj Allianz Life Insurance Company are among the anchor investors, according to a circular uploaded on the BSE website.

The company has allotted 64.29 lakh equity shares to 28 funds at Rs 389 apiece, aggregating the transaction size to Rs 250.1 crore, the data showed.

The Rs 835-crore initial public offering (IPO) will open for subscription on August 30 and conclude on September 3. The price band has been fixed at Rs 370-389 per share.

The proposed IPO is a combination of a fresh issue of equity shares worth Rs 148 crore and an offer for sale (OFS) of up to 1.76 crore value