Baazar Style Retail Allots 20 Lakh Equity Shares on Warrant Conversion

Baazar Style Retail Limited announced the allotment of 20,00,000 equity shares following the conversion of warrants into equity shares on a preferential basis. These shares were issued at a price of ₹328.25 each, including a premium of ₹323.25 per share. The conversion was exercised by warrant holders from the non-promoter category, utilizing a portion of the 76,00,000 warrants previously allotted. The newly allotted shares will rank pari-passu with existing equity shares in terms of dividends and voting rights. The board also approved the reconstitution of the Audit Committee and the appointment of Mrs. Binata Sengupta as an Additional Director (Non-Executive Independent) for three years, subject to shareholder approval. Additionally, the company will incorporate a wholly-owned subsidiary for renewable energy business.