Bazaar Style Retail Limited's board of directors has approved a significant fundraising initiative through the preferential issue of equity warrants to Cupid Limited. The board meeting held on January 20, 2026, resulted in the approval of this strategic capital raising exercise worth over ₹331 crores.

Warrant Issue Details

The board approved the issuance of 1,01,00,000 equity warrants to Cupid Limited at an issue price of ₹328.25 per warrant. The transaction structure and key parameters are outlined below:

The warrants are fully convertible into equivalent number of fully paid equity shares of the company. Each warrant can be converted into one equity share within 18 months from the date of allotment, in accordance with SEBI ICDR Regulations.

Transaction Structure and Compliance

The preferential issue is being conducted under Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. Monarch Networth Capital Limited is acting as the sole advisor to this transaction. The relevant date for the preferential issue, as per SEBI ICDR Regulations, is January 14, 2026.

The transaction requires several approvals before completion:

• Shareholder approval from Bazaar Style Retail Limited
• Regulatory and statutory approvals as required
• Compliance with applicable laws and regulations

Shareholding Impact

Upon full conversion of the warrants, the shareholding pattern will undergo significant changes:

Cupid Limited currently holds no shares in Bazaar Style Retail Limited. Upon full conversion of all warrants, Cupid Limited will hold 11.92% stake in the company, making it a significant non-promoter shareholder.

Warrant Conversion Terms

The equity warrants come with specific conversion and forfeiture terms. If warrant holders fail to exercise their conversion rights within the 18-month period, the unexercised warrants will lapse automatically. In such cases, 25% of the consideration paid will be forfeited by the company, while the remaining amount may be refunded to the warrant holder.

The board meeting commenced at 4:00 PM and concluded at 8:55 PM on January 20, 2026. The company has informed both BSE Limited and National Stock Exchange of India Limited about this significant corporate development as required under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Baazar Style Retail Limited has announced the resignations of two key senior management personnel, as disclosed to stock exchanges on January 14, 2026, in compliance with SEBI regulations. The company informed BSE Limited and National Stock Exchange of India Limited about the departures of Chief Operating Officer Saurav Jhunjhunwala and Vice President – Category Planning Gaurav Saraogi.

Resignation Details

Both senior executives submitted their resignation letters via email, citing personal reasons for their decision to leave the organization. The resignations were processed with different effective dates to ensure business continuity.

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 comprehensive documentation including the required annexures and copies of resignation letters as mandated by SEBI circulars.

Resignation Timeline

Saurav Jhunjhunwala's resignation was processed immediately, with his relief from duties effective from the closure of business hours on January 13, 2026. His resignation letter, dated November 7, 2025, requested immediate relief from duties and responsibilities. Gaurav Saraogi submitted his formal resignation letter on January 2, 2026, providing a 30-day notice period with his last working day scheduled for January 31, 2026.

Company Information

Baazar Style Retail Limited, formerly known as Baazar Style Retail Pvt. Ltd., operates in the retail sector and is headquartered in Kolkata, West Bengal. The company trades on stock exchanges under the symbol STYLEBAAZA with BSE scrip code 544243. Chief Compliance Officer Abinash Singh signed the regulatory disclosure on behalf of the company.