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Kiaasa Retail IPO
Price Band
₹121.0–127.0
Issue Size
₹69.74 Cr
Lot Size
1,000 shares
Min Investment
₹254,000
2 LOTS MIN
GMP
—
Issue Price
₹127.0
Kiaasa Retail IPO AI Summary
- Kiaasa Retail IPO is listed on BSE SME in the Garments & Apparels sector.
- Price band: ₹121.0–₹127.0 per share, lot size 1,000 shares (min. investment ₹254,000, 2 lots minimum).
- Subscription window: 23 Feb–25 Feb 2026, listing on 02 Mar 2026.
Kiaasa Retail is an emerging player in the women's ethnic wear segment, with a strong retail presence and a focus on quality and affordability. The upcoming IPO aims to support its expansion and operational needs.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Kiaasa Retail IPO Grey Market Premium (GMP) Today
GMP not available yet
Grey Market Premium is updated daily. Check back closer to the listing date.
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. The company operate through exclusive outlets and online platforms for greater accessibility. The company has 113 brand outlets in 70 cities, plus an online presence. The company operates via three models: FOFO (Franchise Owned Franchise Operated), COCO (Company Owned Company Operated), and FICO (Franchise Invested Company Operated), enabling efficient retail network management. As of February 28, 2025, the company had 340 full-time employees. Competitive strength: Strong Leadership and Fast Growth. Designs That Connect with Local Culture. Strict Quality Checks for Every Product Affordable Prices Without Compromising Quality.
Company Financials (₹ Cr)
As of 2025-09-30
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 181.81 | 144.30 | 95.42 | 54.26 |
| Total Income | 58.01 | 120.70 | 85.19 | 50.18 |
| Profit After Tax | 6.64 | 8.38 | 5.74 | 2.46 |
| EBITDA | 12.26 | 15.49 | 10.01 | 4.95 |
| NET Worth | 47.31 | 40.67 | 12.71 | 2.96 |
| Reserves and Surplus | 34.57 | 27.93 | 8.21 | 2.46 |
| Total Borrowing | 43.03 | 28.67 | 15.88 | 21.17 |
Key Ratios
EPS
₹6.58
NAV
₹31.93
ROE
42.36%
ROCE
20.34%
RoNW
20.60%
P/B Value
3.98
P/E Ratio
19.31
Market Cap
₹231.51 Cr
PAT Margin
6.94%
Debt/Equity
0.70
Promoters
Om Prakash and Amit Chauhan
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Expenditure for opening new stores 46.45 2 General Corporate Purposes 10.00 3 Issue Expenses 13.28 Total 69.72
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹50.18 Cr in the year ending 31 Mar 2023, increasing to ₹85.19 Cr by 31 Mar 2024, and further rising to ₹120.70 Cr by 31 Mar 2025. However, for the period ending 30 Sep 2025, total income decreased to ₹58.01 Cr, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit After Tax (PAT) was ₹2.46 Cr in the year ending 31 Mar 2023, increasing to ₹5.74 Cr by 31 Mar 2024, and further rising to ₹8.38 Cr by 31 Mar 2025. For the period ending 30 Sep 2025, PAT was ₹6.64 Cr, though this is a 9-month figure, not a full year, so isn't directly comparable.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing price of an IPO compared to its issue price based on unofficial trading. A higher GMP suggests strong demand, while a lower or negative GMP indicates weak demand. However, GMP can fluctuate and is not a guaranteed indicator of future performance.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy and risk tolerance. It's important to consider the company's growth potential and market position before making a decision.
Who May Want to Wait
Investors who are risk-averse or seeking stable, dividend-paying stocks may want to avoid IPOs like this, which can be subject to high volatility and uncertainty in the early stages of trading.
IPO Timeline, Explained
The IPO process includes several key dates: the issue opens on 23 February 2026 and closes on 25 February 2026. Allotment of shares will be finalized by 26 February 2026, and the listing date is set for 2 March 2026.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make when selling shares on the stock exchange after the IPO. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and the company's performance. Investors should be aware that the stock price may fluctuate significantly after listing.
This evaluation is generated from Kiaasa Retail's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is the price band of Kiaasa Retail IPO?
The price band of Kiaasa Retail IPO is ₹121.0–₹127.0 per share.
When does Kiaasa Retail IPO open and close?
Kiaasa Retail IPO opens on 23 February 2026 and closes on 25 February 2026.
When does Kiaasa Retail IPO list on the stock exchange?
Kiaasa Retail IPO listed on 02 March 2026 at ₹127.0.
What is the lot size for Kiaasa Retail IPO?
The lot size for Kiaasa Retail IPO is 1000 shares, requiring a minimum investment of ₹254,000 (2 lots).
What is the price band for the Kiaasa Retail IPO?
The price band for the Kiaasa Retail IPO is ₹121.0 to ₹127.0.
What is the minimum investment required?
The minimum investment required is ₹254,000, which corresponds to a lot size of 1000 shares.
When is the listing date for Kiaasa Retail?
The listing date for Kiaasa Retail is scheduled for 2 March 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of an IPO based on unofficial trading.
Who are the promoters of Kiaasa Retail?
The promoters of Kiaasa Retail are Om Prakash and Amit Chauhan.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
23 Feb 2026
Close
25 Feb 2026
Allotment
26 Feb 2026
Listing
02 Mar 2026
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