Kiaasa Retail Limited
Bookbuilding IPO · BSE
- Price band
- ₹121 - ₹127
- Lot size
- 1,000 shares
- Issue amount
- ₹69.72 cr
- Total subscription
- 2.1×
- Opens
- 23 Feb 2026
- Closes
- 25 Feb 2026
- Allotment
- 26 Feb 2026
- Listing
- 2 Mar 2026
Offer at a glance
Issue overview
- Issue size
- 54,90,000 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,21,000
- Fresh issue
- ₹69.72 cr
- Offer for sale
- ₹0 cr
- Registrar
- Purva Sharegistry India Private Limited
- Listing exchange
- BSE
- Maximum investment
- ₹1,27,000
- Issue type
- Bookbuilding IPO
- Shares before issue
- 1,27,39,005
- Shares after issue
- 1,82,29,005
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 2,000 | ₹2,54,000 |
| sHNI | 3 | 3,000 | ₹3,81,000 |
| bHNI | 8 | 8,000 | ₹10,16,000 |
Share reservation
Subscription & GMP
Subscription by category
Reported 25 Feb 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| QIB | 0 | 4 |
| NIB | 0 | 254 |
| RETAIL | 1,538 | 3,739 |
| HNIs(10L +) | 464 | 53 |
| HNIs (2-10L) | 232 | 201 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 0.66 | 9.89 |
| FIIs | 0 | 8.88 |
| RETAIL | 39.07 | 94.97 |
| NIB | 26.5 | 34.14 |
| HNIs 2+ | 8.84 | 7.94 |
| HNIs 10+ | 17.67 | 26.2 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Sep-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| EPS | 5.21 | 7.47 | 55.45 | 49.24 |
| ROE | 0 | 0 | 0 | 0 |
| ROCE | 12.02 | 20.34 | 33.23 | 17.94 |
| RONW | 14.03 | 20.6 | 45.19 | 83.07 |
| PRE IPO(PE) | 0 | 19.31 | 0 | 0 |
| POST IPO(PE) | 17.44 | 0 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Kiaasa Retail Limited | 19.31 | 127.00 | 10.00 | 31.93 | 20.60 | 6.58 |
| Monte Carlo Fashion Limited | 17.11 | 670.00 | 10.00 | 40.23 | 9.73 | 39.15 |
| Kewal Kiran Clothing Limited | 23.59 | 553.00 | 10.00 | 13.31 | 18.20 | 23.44 |
| Purple United Sales Limited | 33.61 | 456.75 | 10.00 | 6.30 | 17.30 | 13.59 |
Company information
Company profile
Established in 2018, Kiaasa Retail Limited is an Indian fashion brand that focuses on women’s ethnic and fusion wear, with its headquarters in Ghaziabad and a growing presence across many cities in India through both offline stores and online platforms. The company offers a wide range of products such as kurtas and kurta sets, suit sets, lehenga sets, bottoms, dupattas, accessories, along with footwear, jewellery, bags, and scarves to meet the complete fashion needs of modern Indian women. Kiaasa aims to provide high-quality and affordable fashion that reflects individual style and changing trends, while improving customer reach and convenience through exclusive brand outlets and digital channels. The company currently has a strong retail network of 113 outlets across 70 cities and follows a multi-channel strategy using FOFO, COCO, and FICO models to support expansion and better operations, and as of February 28, 2025, it had 340 full-time employees.
Strengths
- Strong Retail Network and Brand Visibility: The Company has built a wide retail presence with more than 100 stores across several cities, which enhances brand recognition and expands its customer reach.
- Diverse Product Portfolio: The Company offers a broad range of women’s ethnic and fusion wear, allowing it to serve different customer segments and adapt to changing fashion trends.
- Asset-Light and Scalable Business Model: The Company follows FOFO, COCO, and FICO models, supporting faster expansion while maintaining relatively lower capital investment.
Risk factors
- Dependence on Franchise Partners: The Company relies significantly on franchise partners for store operations, which may affect overall store performance and consistency in brand experience.
- Highly Competitive and Fragmented Market: The Company operates in a competitive ethnic wear segment with the presence of strong regional as well as national players, which may impact its market share and pricing power.
- Sensitivity to Changing Fashion Trends: The fashion and apparel business is influenced by evolving customer preferences and seasonal trends, which may affect sales, inventory planning, and profitability.
Promoters
Mr. Om Prakash
Mr. Amit Chauhan
Registrar & documents
Lead manager
Expert Global Consultants Private Limited
Registrar & contacts
Purva Sharegistry India Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
1/37, SSGT Road Industrial Area Ghaziabad, Uttar Pradesh, 201001
+91-9319008599
[email protected]Company website ↗Understanding KIAASA IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.