Baazar Style Retail Limited has informed the Exchange about Monitoring Agency Report pertaining to Quarter ended March 31, 2026.
STYLEBAAZA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
CARE Ratings Limited, the monitoring agency for Baazar Style Retail's IPO, has submitted its report for Q4 FY26 (ending March 31, 2026). The company raised Rs. 871.675 crore in gross proceeds from its Pre-IPO and IPO, with net proceeds of Rs. 185 crore. Of this, Rs. 146 crore was earmarked for repayment of certain outstanding borrowings, Rs. 28.99 crore for general corporate purposes, and Rs. 10.01 crore for estimated offer expenses. The monitoring agency notes that the entire Rs. 185 crore remained unutilized during the quarter — no deployment took place, except Rs. 0.06 crore in offer expenses reimbursed in Q4FY26. CARE provided only limited assurance on the utilization details, meaning the confidence level is lower than a full audit. The company has proposed deploying up to Rs. 254.59 million toward general corporate purposes and business requirements, subject to board approval.
The fact that IPO proceeds remain largely unused at quarter-end is neutral-to-positive — it suggests the company is holding capital prudently and has not rushed into deployments. Shareholders can monitor upcoming board decisions on fund deployment, which will signal management's growth strategy.