Value fashion retailer Baazar Style Retail Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an Initial Public Offering (IPO).
The proposed IPO is a combination of a fresh issue of equity shares worth Rs 185 crore and an Offer for Sale (OFS) of up to 1.68 crore by promoter group entities and other selling shareholders, Draft Red Herring Prospectus (DRHP) filed with Sebi showed.
Under the OFS, Rekha Rakesh Jhunjhunwala will sell 27.23 lakh equity shares, Intensive Softshare Private Limited will offload 22.40 crore shares and Intensive Finance Private Limited will divest 14.87 lakh shares among others.
The offer includes a reservation for subscription by eligible employees.
Going by the draft papers filed on Friday, the Kolkata-based company may consider raising Rs 37 crore in a pre-IPO placement round. If such placement is completed, the fresh issue size will be reduced.
Proceeds from the fresh issuance to the extent of Rs 135 crore will
Posts in category Business Standard
Baazar Style Retail files draft papers with Sebi to raise funds via IPO (18-03-2024)
J.Kumar infra bags project worth Rs 334 crore from NBCC (18-03-2024)
J.Kumar Infraprojects said that it has received a letter of award (LOA) for a Delhi-based project worth Rs 334.25 crore from NBCC (India).
India gears up for extensive Lok Sabha showdown in seven phases (18-03-2024)
The Election Commission announced the schedule for the General Election 2024 in India, which will be conducted in seven phases starting from April 19th and concluding on June 1st. The counting of votes will take place on 4th June. The elections will involve 22 states and union territories, with voting taking place in single to seven phases across different regions.
Nifty hovers above 22,050; Tata Steel spurts over 5% (18-03-2024)
At 13:25 IST, the barometer index, the S&P BSE Sensex was up 168.26 points or 0.23% to 72,811.69. The Nifty 50 index rose 46.10 or 0.21% to 22,069.45.
Rane Holdings announces change in Chairman of Rane Group (18-03-2024)
Harish Lakshman will take over as Chairman of Rane Group, effective from
01 April 2024, and will continue on the Board of Rane Holdings as Vice-Chairman and Joint Managing Director.
Shriram Properties sells 70% inventory in Codename Ultimate, Bengaluru (18-03-2024)
In its opening weekend, the Company sold nearly 70% of its project inventory in Codename Ultimate, supported by excellent customer response to the compelling value proposition. This 400+ unit
Balinese-themed project with an aggregate saleable area of ~5.0 lakh sqft is characterized by its tranquil and harmonious ambience that prioritizes open spaces.
Gensol Engineering hits the roof on completing 160 MW solar project in Gujarat (18-03-2024)
Gensol Engineering was locked in 5% upper circuit at Rs 800.10 after the company has successfully completed 160 megawatt (MW) ground-mounted solar projects for Continuum Green Energy in Bhavnagar, Gujarat.
Procter & Gamble Hygiene and Health Care Ltd rises for third straight session (18-03-2024)
Procter & Gamble Hygiene and Health Care Ltd is quoting at Rs 16171.9, up 2.65% on the day as on 12:49 IST on the NSE. The stock is up 19.18% in last one year as compared to a 29.79% jump in NIFTY and a 19.27% jump in the Nifty FMCG index.
Steel Authority of India Ltd rises for third straight session (18-03-2024)
Steel Authority of India Ltd is quoting at Rs 125.6, up 3.2% on the day as on 12:49 IST on the NSE. The stock is up 45.03% in last one year as compared to a 29.79% jump in NIFTY and a 45.09% jump in the Nifty Metal index.
Vedanta Ltd up for third consecutive session (18-03-2024)
Vedanta Ltd is quoting at Rs 268.4, up 1.24% on the day as on 12:49 IST on the NSE. The stock is down 4.11% in last one year as compared to a 29.79% jump in NIFTY and a 45.09% jump in the Nifty Metal index.