Synopsis
Kiaasa Retail’s Rs 70 crore IPO opens on Monday, with no immediate listing gains expected. The company, an ethnic and fusion clothing brand for women, plans to use proceeds from its IPO to open new stores. Kiaasa recorded an increase in revenue and profit in FY25, operating 113 outlets across India.
ETMarkets.comKiaasa Retail’s Rs 70 crore IPO opens on Monday, with no immediate listing gains expected. Kiaasa Retail’s Rs 70 crore IPO will open for subscription on Monday, with GMP at 0%, indicating no immediate listing gains are being priced in by the unofficial market. The issue constituted in sterling is entirely a fresh issue of 54.90 lakh shares and is priced in the range of Rs 121 to Rs 127 per share. The issue will close on February 25, with allotment scheduled for February 26 and listing scheduled for March 2 on the SME BSE platform.
The IPO concerns a batch of 1,000 shares. However, retail investors are required to bid for a minimum of 2,000 shares, which translates to an investment of Rs 2,54,000 in 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 based in Ghaziabad, Kiaasa Retail is an Indian fashion brand focused on ethnic and fusion wear for women. The company operates 113 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 Operating), COCO (Company Owned Company Operating) and FICO (Franchise Invested Company Operating) – enabling it to expand its retail network across India.
Financial performance
For FY25, Kiaasa reported total revenue of Rs 121 crore, up from Rs 85 crore in FY24. Profit after tax stood at Rs 8 crore in FY25, up from Rs 5.74 crore in FY24.
Use of profits
The company plans to use Rs 46.45 crore from the issue to open new stores and the balance for general corporate purposes. With a new issue structure, proceeds are expected to support expansion rather than providing an exit for existing shareholders.
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