Baazar Style Retail Limited has informed the Exchange regarding Outcome of Board Meeting held on April 02, 2026.
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Baazar Style Retail's Board approved two key decisions on April 2, 2026. First, the company allotted 1,01,00,000 equity warrants (approximately 1.01 crore) to a non-promoter body corporate called Cupid Limited via a preferential issue at ₹328.25 per share. The total issue value is approximately ₹331.53 crore, with 25% of the subscription amount already received. Each warrant is convertible into one equity share (face value ₹5) within 18 months from the date of allotment. Second, the Board appointed KPMG Assurance and Consulting Services LLP as the company's Internal Auditor for the financial year 2026-27. KPMG is part of the Big Four global accounting network and will conduct internal audit using a risk-based approach.
The preferential warrant issuance to a non-promoter entity will result in potential equity share dilution of around 1.01 crore shares upon conversion, representing a notable increase in the company's share capital over the next 18 months.