Kiaasa Retail’s Rs 70 crore IPO will open for subscription on Monday, with the GMP at 0%, indicating no immediate listing gains are being factored in by the unofficial market. The book-built issue is entirely a fresh issue of 54.90 lakh shares and is priced in the band of Rs 121 to Rs 127 per share. The issue will close on February 25, with allotment expected on February 26 and listing slated for March 2 on the BSE SME platform.

The IPO has a lot size of 1,000 shares. However, retail investors are required to bid for a minimum of 2,000 shares, translating into an investment of Rs 2,54,000 at the upper price band.

Of the total issue, 56.03% of the shares are allocated to retail investors, 38.01% to non-institutional investors and 0.95% to qualified institutional buyers.

About the company

Established in 2018 and headquartered in Ghaziabad, Kiaasa Retail is an Indian fashion brand focused on women’s ethnic and fusion wear. The company operates 113 brand outlets across 70 cities and also sells through online platforms.

Its product portfolio includes kurtas and kurta sets, suit sets, lehenga sets, bottoms, dupattas and accessories. The company operates under three models – FOFO (Franchise Owned Franchise Operated), COCO (Company Owned Company Operated) and FICO (Franchise Invested Company Operated) – allowing it to scale its retail network across India.

Financial performance

For FY25, Kiaasa reported total income of Rs 121 crore, up from Rs 85 crore in FY24. Profit after tax stood at Rs 8 crore in FY25 compared with Rs 5.74 crore in FY24.

Use of proceeds

The company plans to utilise Rs 46.45 crore from the issue towards opening new stores and the balance for general corporate purposes. With a fresh issue structure, the proceeds are expected to support expansion rather than provide an exit to existing shareholders.

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