Kiaasa Retail IPO to open on February 23, plans to fund stores expansion

Kiaasa Retail, a brand that offers ethnic wear for women, has approached capital markets by filing Red Herring Prospectus as it is raising up to Rs 69.7 crore via initial share sale to funds its stores expansion. The public issue will open for subscription next week on February 23 and close on February 25. The company will finalise its IPO share allotment for investors by February 26, while the trading in its equity shares will commence on the BSE SME effective March 2. This would be among three SME initial public offerings (IPO) opening next week. Mobilise App Lab, and Accord Transformer & Switchgear are other two companies launching offers on the same date. Uttar Pradesh-based Kiaasa Retail, which has fixed price band for its IPO at Rs 121-127 per share, is valued at Rs 231.50 crore at the upper price band. The offer comprises of entirely fresh issue of 54.90 lakh equity shares. The company intends to spend Rs 46.4 crore of the proceeds from the IPO for opening new stores, and the balance amount for general corporate purposes. Click Here To Read All IPO News Incorporated in 2018, Kiaasa Retail that operates 124 EBOs (exclusive brand outlets) across 70 cities in India through three models (Franchise Owned Franchise Operated-FOFO, Company Owned Company Operated-COCO, Franchise Invested Company Operated-FICO) intends to establish 41 additional EBOs in current financial year and further 20 EBOs in FY27. "While we may open EBOs in the following Indian states namely, Bihar, Haryana, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Uttar Pradesh and Delhi/ national capital region, these locations are not exhaustive and may undergo changes," the company said. Kiaasa Retail that competes with listed peers like Monte Carlo Fashion, Kewal Kiran Clothing, and Purple United Sales has recorded profit of Rs 6.6 crore on revenue of Rs 57.9 crore for six months period ended September 2025. In fact, the financial performance in the past years has also been strong with profit in FY25 growing 46 percent to Rs 8.4 crore, up from Rs 5.7 crore in previous year. Revenue during the same period surged 41.9 percent to Rs 120.7 crore, up from Rs 85 crore.