Baazar Style Retail Limited has informed the Exchange regarding allotment of 1500000 securities by conversion of warrants into Equity Shares pursuant to Preferential Issue at its meeting held on May 18, 2026
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Baazar Style Retail Limited's Board approved the conversion of 15 lakh equity warrants held by Cupid Limited (non-promoter body corporate) into an equivalent number of equity shares at ₹328.25 per share, totaling ₹36.93 crore. This is part of a larger preferential warrant issue of 1.01 crore warrants allotted on April 2, 2026, with 25% received at allotment and 75% received before conversion. The company also reported FY2026 standalone revenue of ₹18,408.69 lakh and consolidated PAT of ₹464.67 lakh. The Board also considered but deferred a stock split/sub-division proposal for further analysis.
The warrant conversion increases the company's equity base by 15 lakh shares, providing capital for stated uses including debt repayment and new store expansion. The substantial investment by a non-promoter institutional body signals market confidence in the company's growth prospects.