Cyril Amarchand Mangaldas (CAM) advised Axis Capital Limited, Intensive Fiscal Services Private Limited and JM Financial Limited, the book running lead managers (“BRLMs”), on the initial public offering of equity shares of face value Rs. 5 each (“Equity Shares”) by Baazar Style Retail Limited.
The transaction involved an issuance of 21,459,488 Equity Shares for cash at a price of Rs. 389.00 each aggregating to Rs. 8,346.75 million, consisting of fresh issue of 3,807,168 Equity Shares aggregating to Rs. 1,480.00 million and offer for sale of 17,652,320 Equity Shares aggregating to Rs. 6,866.75 million by the Selling Shareholders. The Equity Shares commenced trading on Stock Exchanges on September 6, 2024.
The Capital Markets team of Cyril Amarchand Mangaldas advised on the matter. The transaction team was led by Yash Ashar, Senior Partner; Vinay Sirohia, Partner; with support Shubham Sancheti, Senior Associate; Pragya Gupta, Associate; Rajshree Agarwal and Vishesh Jain, Associate.
