Retail chain Bazaar Style is planning to launch a Rs 700 crore initial public offering which would value the business at Rs 2,500 crores.

The business plans to use the funds from the IPO to expand its brick-and-mortar footprint across India.Bazaar Style plans to add around 100 new stores over the coming two to two and a half years. The business aims at Tier II and III cities for store expansion where it targets middle class shoppers.Bazaar Style based in Kolkata retails a wide range of multi-brand fashion and lifestyle goods. The business was incorporated in 2013. With a store total of 125 outlets, Bazaar Style operates its retail business under the brand names Style Bazaar and Express Bazaar. The main products the stores retail include clothing, footwear, luggage, accessories, fragrances, sunglasses, cosmetics, and toys, among others. The average store size is 9000 sqft and Baazar Style is present in the value segment in east India. Thelarger vision is to become one of the country’s largest value retailers and the retailer is following a cluster-based approach in which it goes deep in almost all the districts of the states so as to have a better economy of scale and brand visibility.