Kiaasa Retail Ltd. (BSE SME)

Founded in 2018 and headquartered in Ghaziabad, Kiaasa is a prominent Indian fashion brand specializing in women’s ethnic and fusion wear. The brand focuses on blending traditional Indian designs with contemporary trends to offer affordable, high-quality fashion.

Business Model & Reach

• Store Network: Operates 113 brand stores across 70 cities in 16 Indian states.

• Operational Models: Uses a mix of COCO (Company Owned Company Operated), FOFO (Franchise Owned Franchise Operated), and FICO (Franchise Invested Company Operated) models.

• Product Range: Offers a wide variety of apparel, including Kurtas, Kurta sets, Suit sets, Lehenga sets, bottoms, and accessories like jewelry and bags.

• Online Presence: Operates its own e-commerce platform to supplement physical retail sales.

Track Record

• Revenue Growth: Total income increased from ₹85.19 Cr (FY24) to ₹121.65 Cr (FY25).

• Profitability: Reported a Profit After Tax (PAT) of ₹9.02 Cr in FY25, up from ₹5.74 Cr in the previous year.

• Asset Expansion: Total assets grew to ₹144.22 Cr by March 2025 as the company aggressively expanded its store footprint.

Kiaasa Retail Ltd IPO GMP

As of Feb 19, 2026, the Grey Market Premium (GMP) is currently ₹0.

Note: A GMP of ₹0 suggests the market expects a flat listing at the issue price of ₹127. However, the premium often starts moving once the subscription opens and demand becomes visible.

Kiaasa Retail Ltd IPO Allotment Status

The allotment process is scheduled to be finalized on Feb 26, 2026.

Check Kiaasa Retail Allotment Status To check your status online, visit: Check Allotment Status Here

You can verify your status via:

• Registrar's website (Purva Sharegistry (India) Pvt Ltd)

• BSE official portal

• Using your PAN number or Application ID

Strengths

• Established Brand: "Kiaasa" is a recognized name in the mid-segment ethnic wear market with a strong presence in Tier-2 and Tier-3 cities.

• Scalable Model: The franchise-heavy model allows for rapid expansion with lower capital expenditure compared to a purely company-owned model.

• Strong Leadership: Promoters Mr. Om Prakash and Mr. Amit Chauhan have over 16 years of experience in the textile and retail industry.

• High Growth: The company has maintained a strong CAGR in revenue as it continues to penetrate new regional markets.

Weakness

• Regional Concentration: A significant portion of retail revenue (approx. 28%) is concentrated in Uttar Pradesh, making the business vulnerable to regional economic shifts.

• Negative Operating Cash Flow: Despite being profitable, the company saw negative operating cash flow in FY25 due to a large buildup in inventory and receivables.

• High Competition: Faces intense competition from both large national brands (like Biba, FabIndia, and W) and unorganized local retailers.

• Inventory Risk: As a fashion brand, the company is susceptible to changes in fashion trends which can lead to unsold inventory.

How the Company Will Use IPO Money

The fresh issue proceeds of ₹69.72 crores will be utilized for:

• Store Expansion: Funding the expenditure for opening new retail stores across India.

• General Corporate Purposes: Strategic initiatives, brand building, and meeting operational expenses.

Kiaasa Retail Ltd Lead Manager

Expert Global Consultants Private Limited

Kiaasa Retail Ltd Address

Kiaasa Retail Limited

Registered Office: 1/37, SSGT Road Industrial Area, Ghaziabad, Uttar Pradesh - 201001.

Corporate Office: Plot No 1/65, First Floor, SSGT Road Industrial Area, Ghaziabad, Uttar Pradesh - 201001.

Phone: +91-93190 08599

E-mail: cs@kiaasaretail.com

Website: https://www.kiaasa.com/

Kiaasa Retail Registrar

Purva Sharegistry (India) Pvt Ltd

Address: 9, Shiv Shakti Industrial Estate, J.R. Boricha Marg, Lower Parel, Mumbai - 400 011.

Phone: +91-22-4961 4132

Email: newissue@purvashare.com

Website: https://www.purvashare.com/