Baazar Style Retail Limited has announced the resignation of its Chief Merchandising Officer under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has formally notified stock exchanges about this senior management change.

Senior Management Departure

Mr. Ramyaraj Rath, Chief Merchandising Officer, has tendered his resignation from the company effective April 30, 2026. The resignation was submitted due to personal reasons that require his full attention. The company has acknowledged his resignation and confirmed his relief from duties with effect from the closure of business hours on April 30, 2026.

Regulatory Compliance and Documentation

The company has made the disclosure pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The formal notification was submitted to both BSE Limited and National Stock Exchange of India Limited on April 30, 2026.

The disclosure includes comprehensive documentation as required under SEBI regulations, with Annexure A containing detailed information about the resignation and Annexure B including a copy of the resignation letter submitted by Mr. Rath. The notification was made in compliance with SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Resignation Timeline and Transition

Mr. Rath originally submitted his resignation letter on March 27, 2026, addressing it to the company management. In his resignation communication, he expressed sincere gratitude for the opportunities provided during his tenure and the support extended by the organization.

The departing officer has committed to ensuring a smooth transition process by completing all pending tasks and assisting in the handover procedures. He wished the company continued success and growth in his farewell message to the management team.

Company Information

Baazar Style Retail Limited, formerly known as Baazar Style Retail Pvt. Ltd., operates from its headquarters at PS Srijan Tech Park in Salt Lake, Kolkata. The company trades on stock exchanges under the symbol STYLEBAAZA with scrip code 544243 and CIN No: L18109WB2013PLC194160.

Baazar Style Retail Limited has announced the successful settlement of its insurance claim related to a warehouse fire incident that occurred in May 2024. The company disclosed that Bajaj Allianz General Insurance Co. Limited has settled the claim for ₹23.00 crores under Policy No. OG-24-2495-4008-00000005.

Fire Incident and Initial Impact

The fire incident took place on May 20, 2024, at the company's erstwhile central warehouse located at J.L No. 11, Prospace Industrial Parks, Mouza – Belumilki, Pearapur Gram Panchayat, Sreerampur District, Hooghly – 712 223 West Bengal. The incident resulted in significant inventory loss valued at ₹50.85 crores.

Insurance Settlement Details

Bajaj Allianz General Insurance Co. Limited completed its assessment of the claim and settled the insurance claim for ₹23.00 crores. The company has accepted this settlement amount, which will be received in due course. The settlement represents the final resolution of the insurance claim process that began following the May 2024 incident.

Operational Recovery and Business Continuity

Despite the significant loss, Baazar Style Retail demonstrated resilience in maintaining its operations. The company experienced minimal disruption from the fire accident and successfully shifted its entire operation to a new state-of-the-art warehouse facility. The transition was completed within a month of the incident, ensuring smooth continuity across the supply chain.

The company had previously disclosed this incident in its Red Herring Prospectus/Prospectus, maintaining transparency with stakeholders. During FY 2025, the company had recognized a receivable of ₹43.65 crores against the total inventory loss while the insurance claim process was ongoing.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided detailed information as required under SEBI regulations, including the actual damage amount, insurance settlement details, and steps taken to restore normalcy.