IPO Alert: Kiaasa Retail to Open for Subscription on February 23

Kiaasa Retail is to open its Initial Public Offering (IPO) next week on February 23 and close the issue on February 25, 2026.  

The company plans to raise up to ₹69.7 crore through a fresh issue of 54.9 lakh equity shares. The price band has been set at ₹121-127 per share, which values the company at about ₹231.5 crore at the upper end. 

Use of Proceeds 

Out of the total issue size, the company plans to use ₹46.4 crore to open new stores. The remaining amount will be used for general corporate purposes. 

Kiaasa Retail plans to open 41 additional outlets in the current financial year and another 20 outlets in FY27.  

These stores may come up in states such as Bihar, Haryana, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Uttar Pradesh, and the Delhi-NCR region, though the final locations may change. 

Kiaasa Retail Business Operations 

Kiaasa Retail, incorporated in 2018, sells women’s ethnic wear through a network of exclusive brand outlets. The company currently operates 124 stores across 70 cities in India. 

Its stores run under 3 formats: franchise-owned and franchise-operated (FOFO), company-owned and company-operated (COCO), and franchise-invested and company-operated (FICO).  

The company operates in a segment where listed peers include Monte Carlo Fashion, Kewal Kiran Clothing, and Purple United Sales. 

Kiaasa Retail Financial Performance 

For the 6 months ended September 2025, the company reported revenue of ₹57.9 crore and profit of ₹6.6 crore.  

In FY25, revenue rose to ₹120.7 crore, compared with ₹85 crore in the previous year. Net profit for the year stood at ₹8.4 crore, up from ₹5.7 crore in FY24. 

Allotment, Listing and Peer Issues 

The basis of allotment is expected on February 26, and the shares are scheduled to list on the BSE SME platform on March 2. The issue is being managed by Expert Global Consultants. 

2 other SME IPOs, Mobilise App Lab and Accord Transformer & Switchgear, are also scheduled to open in the same week. 

Read More: SBI Mutual Fund May File Draft Papers for $1.5 Billion IPO in March: Report! 

Conclusion 

The 3-day issue will close on February 25, with the listing expected in early March. The company plans to use a large part of the proceeds for store expansion. 

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