Bazaar Style's Style Retail Private Limited gears up for IPO

By

Isabelle Crossley

Published
Dec 9, 2022

Retail chain Bazaar Style's Style Retail Private Limited plans to launch a Rs 700 crore initial public offering which would value the business at Rs 2,500 crore. The business plans to use the funds from the IPO to expand its brick-and-mortar footprint across India. 

Bazaar Style plans to add around 100 new stores over the coming two to two and a half years, sources told ET Bureau. The business aims to target Tier 2 and 3 cities for store expansion where it targets middle class shoppers.
 
Ahead of the IPO, the business has appointed Axis Capital, JM Financial, and Intensive Fiscal Services as its lead bankers. Bazaar Style is expected to file its draft red herring prospectus around February 2023 and the IPO is likely to launch in June 2023, according to ETBureau’s sources.

Bazaar Style is based in Kolkata and retails a wide range of multi-brand fashion and lifestyle goods. The business was jointly incorporated in June 2013 by Shreyans Surana, Rohit Kedia, Bhagwan Prasad, Pradeep Kumar Agarwal, and Rajendra Kumar Gupta. 
 
With a store total of 125 outlets, Bazaar Style operates its retail business under the brand names ‘Style Bazaar’ and ‘Express Bazaar’. The main products the stores retail include clothing, footwear, luggage, accessories, fragrances, sunglasses, cosmetics, and toys among others.