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Bazar India ₹24.00 ▲ 0.0% 1M
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Bazar India Unlisted Shares

Retail Value apparel and general merchandise retail

Bazar India is a value apparel and general merchandise retail chain run by Mayasheel Retail India Limited. At the end of FY21 it operated 55 stores across 51 cities in 13 states, focused on Tier II and Tier III towns.

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Indicative price
As of 23 Oct 2026
₹24.00 ▲ 0.00% in 1 month
Key facts

Bazar India share details

Lot size
2,500 shares
Min. investment
₹60,000
Face value
₹10
Founded
2015
Headquarters
Gurugram, Haryana
Website
bazarindia.co.in
ISIN
INE03NO01017
Lock-in after IPO
6 months
Price history

Bazar India share price chart

1Y change
+0.00%
High
₹24.00
Low
₹24.00

Indicative off-market dealer quotes, not exchange prices. A flat stretch means the quote did not change on those days.

About

About Bazar India

Bazar India is the store brand of Mayasheel Retail India Limited, a company headquartered in Gurugram, Haryana, with its registered office in New Delhi. The business started in 2015 as Mayasheel Retail LLP and was later converted into a public company. The numbers below come from its FY21 annual report, the latest document we could read, so they are old. The company sells clothing and general merchandise for middle income families at affordable prices. Its motto is "Fashion ke saath bachat bhi". It positions itself as a one stop shop for the whole family and targets under-served Tier II and Tier III cities, with a strong presence in Eastern India and the North East. At the time of the FY21 report the chain had 55 stores in 51 cities and 13 states, with about 5.66 lakh sq ft of retail area. Revenue from operations in FY21 was about ₹187 crore, and the company reported a net profit after tax after a loss in FY20. The company says the swing came from cost cuts, as sales fell because of the Covid lockdowns. The report states it plans to start online sales and to open 20 more stores. The company is run by its promoters. Mr. Atul Garg is Chairman and Managing Director, and the Karwa brothers and other executive directors sit on the board. The report names KFin Technologies as registrar. Bazar India has no IPO filing or listing date that we can confirm from this document. Unlisted shares of a company like this trade off-market between private parties, so the indicative price of ₹24 per share on our page is not an exchange price. The lot size we show is 2500 shares.

Strengths

  • Revenue from operations in FY21 was about ₹187 crore, even in a year when lockdowns closed stores for long stretches.
  • The company turned from a loss of ₹(17,59,48,868) in FY20 to a net profit of ₹1,88,22,191 in FY21, helped by cost cuts, per the annual report.
  • The chain had 55 stores in 51 cities across 13 states, with about 5.66 lakh sq ft of retail area, giving it a wide spread in smaller towns.
  • Cash from operations was positive in both FY21 and FY20, at ₹3,75,61,741 and ₹9,56,84,990 respectively.
  • The founders still run the company; Mr. Atul Garg has over 20 years of experience in retail and garment manufacturing, as per the report.

Risks

  • Revenue fell sharply in FY21, from ₹3,59,74,26,674 to ₹1,86,64,83,913, as lockdowns hit store retail.
  • The company made a large loss in FY20, and reserves and surplus were still negative at ₹(14,57,82,437) on 31 March 2021.
  • Trade payables were ₹1,24,68,47,109, far above equity capital of ₹25,00,00,000, so the business leans heavily on supplier credit.
  • Inventory of ₹1,04,07,00,565 makes up most of current assets, so unsold stock can hurt cash flow and profit.
  • Finance costs were ₹10,83,39,619 in the profit statement for FY21, a heavy charge against a pre-tax profit of ₹1,27,21,214.
  • The latest annual report we could read is for FY21, so recent results are not verified here.
  • Unlisted shares trade off-market with indicative prices, can be hard to sell, and carry no assurance of an IPO.
Financials

Bazar India financial performance

Revenue, profit and balance-sheet figures by fiscal year.

Revenue & PAT (₹ Cr)
Revenue PAT
Metric FY21Latest FY20
Revenue (₹ Cr) 187 360
PAT (₹ Cr) 1.88 -17.59
PAT Margin (%) 1.01 -4.89
EPS (₹) 0.75 -7.04
Total Assets (₹ Cr) 159 174

Swipe the table sideways for earlier years →

Leadership

Management team

Mr. Atul Garg
Chairman & Managing Director
Founder and promoter with over 20 years in retail and garment manufacturing.
Mr. Sushil Kumar Karwa
Executive Director
Executive director on the board.
Mr. Sunil Kumar Karwa
Executive Director
Executive director on the board.
Mr. Puneet Kalani
Executive Director
Executive director on the board.
Mr. Sanjeev Agarwal
Chief Financial Officer
Chief Financial Officer of the company.
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FAQs

Bazar India unlisted shares: common questions

Important disclaimer

Unlisted shares are not traded on stock exchanges. Prices shown are indicative and based on off-market transactions; they may differ from eventual listing or future market prices. Exit liquidity depends on counter-party availability. SEBI mandates a 6-month lock-in on pre-IPO shares post-listing. Gains held beyond 24 months are taxed at 12.5% LTCG (no indexation). IPO Guru is not a SEBI Registered Investment Advisor. Information here is for general awareness, not personalised investment advice. Please consult your tax advisor before investing.

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