Baazar Style Retail share price hit 5% upper circuit at ₹383.50 apiece in Monday’s trading session after reports revealed that Aditya Halwasiya has emerged as a major shareholder following a large block deal.
Bazaar Style Retail shares opened at ₹384.45 apiece today, as compared to previous close of ₹366.15 on Friday last week.
Bazaar Style Retail block deal details
According to CNBC TV18, around 45 lakh shares of Baazar Style Retail, valued at ₹163 crore, were traded at ₹362 apiece in the block deal window. Investor Aditya Halwasiya was the buyer in the transaction, while details regarding the seller were not immediately available.
The investment marks a significant turning point for Style Baazar, which has established a strong foothold in eastern India and other emerging markets. The company is now aiming to scale up its operations substantially, with plans to expand its retail footprint to at least 500 stores over the next three years.
Halwasiya’s entry, coupled with Cupid Limited’s existing strategic investment through warrants equivalent to around 12% of the company upon conversion, strengthens the shareholder base around Style Baazar. Of these warrants, those representing nearly 3% have already been converted into equity shares. Together, these developments add further strategic depth as Style Baazar enters its next phase of expansion and growth.
Equally important is the substantial commercial opportunity for Cupid’s fast-growing consumer product portfolio. Style Baazar’s expanding retail network could serve as a strong platform to enhance the distribution, visibility and market penetration of Cupid’s products among a broad and growing customer base. At the same time, the potential extends beyond the Style Baazar network, with the partnership serving as a catalyst for Cupid to expand its FMCG and consumer product presence across general trade, modern retail and other distribution channels nationwide.
At the end of the June quarter, promoters and promoter entities held a 45% stake in Baazar Style Retail, while the remaining 55% was owned by public shareholders. According to data available on the stock exchanges, Aditya Halwasiya was not listed among the company’s public shareholders as of June 30.
Bazaar Style Retail share price trend
The share price trend of Bazaar Style Retail has remained positive despite weak market sentiments. The stock has gained over 14% in a week and 29% in a month.
Furthermore, the stock has delivered 42% returns on year-to-date (YTD) basis and 22% returns in a year.
Bazaar Style Retail share price made its stock market debut in September 2024.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
