Baazar Style Retail IPO: It is almost certain that veteran investor Rekha Jhunjhunwala will earn more than Rs 100 crore. The IPO of Bazaar Style Retail is going to enter the market. Rekha Jhunjhunwala has about 7.69 percent stake in this company. She has 5,446,240 shares of the company. Out of these, she is going to sell 2,723,120 shares. This will bring her about Rs 106 crore.
Bazaar Style Retail IPO price band is Rs 389
The wealth of Rekha Jhunjhunwala, wife of Rakesh Jhunjhunwala, who is called the Warren Buffett of the Indian stock market, is going to increase tremendously with the IPO of Bazaar Style Retail. The company has kept the price band of the IPO at Rs 389. With this, Rekha Jhunjhunwala is sure to get at least Rs 105.92 crore. The company’s IPO is going to open for subscription on Friday, 30 August. In this, the company has issued 3,804,627 shares under the fresh issue. Apart from this, many promoters and investors including Rekha Jhunjhunwala are also going to issue 17,652,320 shares under the offer for sale.
All these promoters are going to sell their stake in IPO
According to the company’s IPO document, apart from Rekha Jhunjhunwala, Intensive Softshare is offering 2,240,680 shares in this IPO. It is almost certain to make a profit of Rs 87.16 crore at this price band. Apart from this, Madhu Surana, promoter of Bazaar Style Retail, Sabita Agarwal, Subroto Trading & Finance, Rekha Kedia and Shakuntala Devi are also going to sell their stake.
The gray market price of the IPO is running at a premium of Rs 141
From this IPO, Madhu Surana is going to get Rs 37.53 crore, Sabita Agarwal is going to get Rs 36.64 crore, Subroto Trading and Finance is going to get Rs 35.75 crore, Rekha Kedia is going to get Rs 29.17 crore and Shakuntala Devi is going to get Rs 27.23 crore. According to the company’s IPO document, they are not going to get anything from the offer for sale. All the money coming in this will go to these people. The company will reduce the debt with the money coming from the fresh issue. The gray market price (GMP) of the IPO is running at a premium of Rs 141. This has increased the hope of a good listing.
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