IPO's will open next week

Baazar Style Retail IPO

Kolkata-based value fashion retailer Bazaar Style Retail's IPO may hit the streets very soon. According to a report by Live Mint, the IPO of this Rekha Jhunjhunwala-backed company is expected to launch on Friday, August 30 or Monday, September 2. The price band of the issue may be released on Monday, August 26 or Tuesday, August 27.

Baazar Style Retail had submitted DRHP in March

Bazaar Style Retail submitted its draft red herring prospectus (DRHP) in March. According to the DRHP, this IPO consists of a fresh issue of equity shares worth Rs 185 crore and an offer to sell 1.68 crore shares by promoter group entities and other selling shareholders through an offer for sale (OFS). The offer also includes a provision for eligible employees to subscribe. Axis Capital, Intensive Fiscal Services and JM Financial are the book-running lead managers, while Link Intime India is the registrar to the issue.

Rekha Jhunjhunwala will sell shares under OFS

Rekha Jhunjhunwala, wife of stock market king Rakesh Jhunjhunwala, who is known as India's Warren Buffett and Big Bull, plans to sell 27.23 lakh equity shares in the OFS. Intensive Softshares Private Limited intends to sell 22.40 lakh shares and Intensive Finance Private Limited will sell 14.87 lakh shares.

Other shareholders participating in the OFS include Chandurkar Investments, Subroto Trading and Finance Company Limited, Rajnish Gupta, Madhu Surana, Sabita Agarwal, Rekha Kedia, Shakuntala Devi and DK Surana HUF, who will sell their shares.

Baazar Style Retail reduces IPO size

In August, Baazar Style Retail raised Rs 37 crore from Volrado Ventures Partners Fund II in a pre-IPO round. As a result, the size of the company's IPO has been reduced from Rs 185 crore to Rs 148 crore. Baazar Style Retail is one of the leading players in the value retail market in West Bengal and Odisha. The company has 153 stores spread across 140 cities in 9 states as of December 31, 2023.

ECOS Mobility and Hospitality IPO

Let us know the things related to this IPO which investors need to know

When will the IPO be allotted?

The allotment of shares of Ecos (India) Mobility and Hospitality IPO will be finalized on Monday, September 2. The refund process by the company will start from Tuesday, September 3, and the shares will be credited to the demat account of the allottees after the refund on the same day.

When will the IPO be listed?

The company's shares are likely to be listed on BSE and NSE on Wednesday, September 4.

What does the company do?

Ecos Mobility has been providing driver-driven car rental and employee transportation services to corporate clients, including Fortune 500 companies in India for the past 25 years.

The company operates a fleet of over 9000 economy to luxury cars, minivans and luxury coaches. The fleet includes luxury (such as Audi, BMW, Mercedes-Benz), economy, premium vehicles and buses/vans. The company also offers specialty vehicles including luggage vans, limousines, vintage cars and vehicles for accessible transportation for people with disabilities.

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