SME
IPO ·
BSE SME
Kiaasa Retail Ltd
Listed
Established in 2018, Kiaasa Retail Limited is an Indian fashion brand focused on women's ethnic and fusion wear.
Issue details
Price band
₹121 – ₹127
Face value
₹10
Lot size
1,000 shares
Minimum investment
₹2,54,000
Issue size
₹69.74 Cr
Fresh issue
₹66.24 Cr
Offer for sale
—
Issue type
Book Built
Exchange
BSE SME
Key dates
Opens
23 Feb 2026
Closes
25 Feb 2026
UPI mandate cut-off
5:00 PM on 25 Feb 2026
Allotment
26 Feb 2026
Refunds
27 Feb 2026
Shares in demat
27 Feb 2026
Listing
2 Mar 2026
Subscription and listing
Subscription
1.76x
Listing price
₹123
Registrar
Purva Sharegistry (India) Pvt Ltd
Lead manager
Expert Global Consultants Pvt.ltd.
Subscription by category
Total
1.76x
Total applications
3,899
Listing day
Issue price
₹127
Open
₹123.00
High
₹123.00
Low
₹116.85
Day close
₹116.85
Listing gain at open
-3.15%
Issue structure
Shares reserved per category and share of the total issue
QIB Shares Offered
52,000
0.95%
NII Shares Offered
20,87,000
38.01%
bNII > ₹10L
13,91,000
25.34%
sNII < ₹10L
6,96,000
12.68%
Retail Shares Offered
30,76,000
56.03%
Market Maker Shares Offered
2,75,000
5.01%
Total Shares Offered
54,90,000
100.00%
Finaccle’s quick read
Apply
FY25 income up 42%, PAT up 46%, ROE 20.20%, D/E 0.91, post-issue P/E 17.44x.
A rules-based screen of growth, margins, debt and valuation, built from the offer document and data on Chittorgarh.com. It is for information only and is not investment advice or a recommendation to buy or sell. Read the RHP and speak to a SEBI-registered adviser before you apply.
About the company
Established in 2018, Kiaasa Retail Limited is an Indian fashion brand focused on women's ethnic and fusion wear. Founded in 2018 and based in Ghaziabad, it operates over 100 stores in more than 80 cities across India. Kiaasa offers a diverse collection of women's ethnic wear, including: Kurtas and Kurta Sets Suit Sets Lehenga Sets Bottoms and Dupattas Accessories Kiaasa is an ethnic wear brand offering a range of women's apparel, footwear, and accessories, including salwar kameez, lehengas, jewellery, bags, and scarves. The brand meets the fashion needs of Indian women with high-quality, affordable products that reflect individuality.
Founded
Promoters
Promoter holding
Financial performance
Period
PAT
ROE
20.20%
ROCE
12.02%
Debt / equity
0.91
PAT margin
11.46%
P/E post issue
17.44
Market cap
₹231.51 Cr
Use of IPO money
Expenditure for opening new stores
₹46.45 Cr
General Corporate Purposes
₹10.00 Cr
Issue Expenses
₹13.28 Cr
Strengths
✓
Revenue up 42% in FY25 to ₹120.70 Cr
✓
PAT up 46% in FY25 to ₹8.38 Cr
✓
PAT margin of 11.46%
✓
ROE of 20.20% and ROCE of 12.02%
✓
Moderate leverage: debt to equity 0.91
Risks to watch
!
SME platform: large lot size and thinner trading liquidity
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Last updated:
Information is compiled from exchange notices and the company’s offer document. It is for general information only and is not investment advice or a recommendation to apply. Read the prospectus before investing.