Baazar Style Retail IPO subscribed 40.63 times on last day of bidding

The initial public offer of Rekha Jhunjhunwala-backed value fashion retailer Baazar Style Retail garnered 40.63 times subscription on the closing day of bidding on Tuesday.

The Rs 835-crore initial share sale received bids for 61,07,33,758 shares against 1,50,30,116 shares on offer, according to data available with the NSE.

The portion meant for Qualified Institutional Buyers (QIBs) received 81.83 times subscription while the category for non-institutional investors got subscribed 59.41 times. The quota for Retail Individual Investors (RIIs) garnered 9.07 times subscription.

Baazar Style Retail Ltd on Thursday said it has collected Rs 250 crore from anchor investors.

The price band for the offer is Rs 370-389 per share.

The 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 shares valued at Rs 687 crore (at the upper end of the price band) by promoter group entities and other selling shareholders.

Proceeds fro