Kiaasa Retail IPO is a ₹69.72 crore SME IPO, issuing 54,90,000 Fresh Equity shares through a book-built process, face value at ₹10/share.
Kiaasa Retail IPO will start subscriptions on 23 February 2026 and end on 25 February 2026. The Kiaasa Retail IPO allotment is expected on 26 February 2026, and the shares will list on 2 March 2026 on BSE SME.
Kiaasa Retail IPO is set at a price range of ₹121/share – ₹127/share. One lot of the IPO consists of 1,000 shares, and the minimum application size is 2 lots (2,000 shares), which comes to ₹2,54,000 (based on the upper price band).
Kiaasa Retail IPO: Details
| IPO Open | 23 February 2026 |
| IPO Close | 25 February 2026 |
| Face value | ₹10/share |
| Price Band | ₹121/share–₹127/share |
| Issue price | – |
| IPO Lot Size | 1,000 shares |
| Offer for sale | – |
| Fresh issue | 54,90,000 Equity shares (₹69.72 crore) |
| Issue Type | Bookbuilt/SME IPO |
| Listing | BSE SME |
| Total Issue Size (₹ Crore) | ₹69.72 crore (54,90,000 Equity shares) |
| Minimum Retail Investment | ₹2,54,000 (2 Lots) |
Kiaasa Retail IPO Timeline
| Bid Opening Date | 23 February 2026 |
| Bid Closing Date | 25 February 2026 |
| Allotment | 26 February 2026 |
| Refunds Initiated | 27 February 2026 |
| Share Credit Date | 27 February 2026 |
| Listing Date | 2 March 2026 |
| UPI mandate Cut-off time | 25 February 2026 (5 PM) |
Kiaasa Retail Key Performance Indicators (KPIs)
| KPIs | 2025 | 2024 | 2023 |
| ROE (%) | 22.21 | 44.31 | – |
| ROCE (%) | 20.34 | 33.23 | 17.94 |
| Debt-Equity Ratio (in times) | 0.7 | 1.25 | 7.14 |
| RoNW (%) | 20.6 | 45.19 | 83.07 |
| PAT Margin (%) | 6.94 | 6.75 | 4.92 |
| EBITDA Margin (%) | 12.84 | 11.77 | 9.88 |
| Price-Book Value | – | – | – |
Kiaasa Retail Limited Financial Information
| 2025 (in ₹ lakh) | 2024 (in ₹ lakh) | 2023 (in ₹ lakh) | |
| Revenue | 12,068.44 | 8,503.76 | 5,003.95 |
| Assets | 14,429.76 | 9,542.42 | 5,426.22 |
| Profit After Tax | 837.98 | 574.19 | 246.18 |
Subscription Status: Kiaasa Retail IPO
Subscription Details Pending
The subscription figures will be published after the bidding process officially commences.
Applications can be submitted between 10:00 AM and 5:00 PM on each day the public issue remains open.
Kiaasa Retail IPO GMP
As of 20 February 2026, the Kiaasa Retail IPO GMP is ₹0. The expected listing price is at ₹127/share (at upper price band), and the expected profit is 0.00%.
The Kiaasa Retail IPO GMP trend has no major movement, and a similar trend is expected until listing. For more information on the Kiaasa Retail IPO GMP, check this section!
| Date | GMP (₹) | Estimated Listing Price | Estimated Listing Gain | Trend |
| 20 February 2026 | ₹0 | ₹127 | ₹ (0.00%) | – |
| 19 February 2026 | ₹0 | ₹127 | ₹ (0.00%) | – |
| 18 February 2026 | ₹0 | ₹127 | ₹ (0.00%) | – |
Note: GMP data are derived from unofficial sources, which can shift based on market sentiment, investors’ participation, and IPO subscription rate.
Kiaasa Retail IPO Reservation
See how the Kiaasa Retail IPO shares are offered to different investors:
| Category | Shares offered | % of shares offered |
| Market Maker | 2,75,000 | 5.05% |
| QIBs | 52,000 | 0.95% |
| Retail Investors | 30,76,000 | 56% |
| NII shares offered (HNI) | 20,87,000 | 38% |
| Total | 54,90,000 | 100% |
Lot Size for the Kiaasa Retail IPO
You must apply for a minimum of 2,000 shares (2 lots with 1,000/lot), and in multiples of the lot size.
| Application | Lot Size | Shares | Amount(in ₹) |
| Retail Investors Minimum Application | 2 | 2,000 | ₹2,54,000 |
| Retail Investors Maximum Application | 2 | 2,000 | ₹2,54,000 |
| S-HNI Minimum Application | 3 | 3,000 | ₹3,81,000 |
| S-HNI Maximum Application | 7 | 7,000 | ₹8,89,000 |
| B-HNI Minimum Application | 8 | 8,000 | ₹10,16,000 |
Anchor Investors Details: Kiaasa Retail IPO
The company has not proposed an anchor investor portion for this public issue.
Kiaasa Retail IPO Prospectus
About Kiaasa Retail Limited
The company, incorporated on 20 April 2018, is under the guidance of Chairman and Managing Director, Mr. Om Prakash.
The company operates as a women-focused ethnic fashion brand, offering apparel, footwear, and complementary accessories. Its product range includes traditional garments such as salwar suits and lehengas, along with jewellery, handbags, and scarves.
The brand positions itself on affordability and quality, catering to the changing style preferences of Indian women. The distribution is undertaken through exclusive brand outlets supported by an online platform, thereby enabling wider market reach.
| Book Running Lead Managers (BRLM) | Expert Global Consultants Pvt Ltd |
| IPO Registrar | Purva Sharegistry (India) Pvt Ltd |
Objectives of Kiaasa Retail
| Particulars | Amount (in ₹ lakh) |
| Capital expenditure for setting new stores | 4,644.63 |
| Corporate requirements | – |
Strengths Of Kiaasa Retail
- Experienced leadership and expansion strategy: The company’s strategic direction under seasoned promoters has enabled sustained growth, market expansion, and operational resilience during economic disruptions.
- Regionally aligned product design: The company’s collections are developed to reflect diverse cultural preferences, strengthening customer engagement across different geographic markets.
- Structured quality assurance mechanisms: The company has a multi-stage quality control framework, which ensures product consistency, durability, and maintenance of brand standards.
- Cost-efficient value positioning: The company’s competitive pricing, supported by prudent cost management, enhances affordability while preserving perceived product quality.
Risks of Kiaasa Retail
- Unregistered lease agreements: The company has certain lease agreements that are unregistered, which might weaken the enforceability of occupancy rights and expose the operations to legal uncertainties.
- Pending & expired statutory licences: The company has not obtained or renewed certain trade and shop licences, which subject it to penalties and operational interruptions.
- Geographic revenue concentration: The company’s substantial portion of revenue originates from Uttar Pradesh, which increases vulnerability to regional economic or regulatory disruptions.
- Dependence on leased office premises: The company’s registered and branch offices operate from leased properties, and any termination or dispute may disrupt administrative continuity.
Kiaasa Retail IPO Review
The Kiaasa Retail Limited IPO presents a modestly sized SME offering with support from consistent revenue growth and improving operating margins. However, geographic concentration and regulatory compliance gaps warrant caution. With a neutral GMP trend and no anchor participation, the issue appears to be fairly priced. Interested investors may evaluate it based on personal risk appetite and long-term scalability prospects.
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Kiaasa Retail IPO FAQ’s
The Kiaasa Retail IPO is an SME book-built public issue aggregating ₹69.72 crore through a fresh issue of 54,90,000 equity shares. The company intends to utilise proceeds primarily for store expansion and related capital expenditure requirements.
Investors can apply for the Kiaasa Retail IPO through ASBA via their bank account or through UPI-enabled applications offered by registered brokers. The application must be placed within the price band and in multiples of the prescribed lot size.
Investment suitability for the Kiaasa Retail IPO depends on risk tolerance, valuation comfort, and belief in the company’s expansion strategy. While financial growth is visible, regional concentration and compliance risks should be factored into the investment decision.
Based on the recent GMP trends of the Kiaasa Retail IPO of ₹0, the estimated listing price aligns with the upper price band of ₹127, indicating no immediate listing gain expectations as per current unofficial trends.
The Kiaasa Retail IPO will open for subscription on 23 February 2026 and close on 25 February 2026, remaining available for bidding during standard market hours on each subscription day.
The minimum application lot size for the Kiaasa Retail IPO is 2,000 shares, equivalent to two lots of 1,000 shares each. At the upper price band of ₹127, this translates to a minimum retail investment of ₹2,54,000.
The Kiaasa Retail IPO is expected to be finalised on 26 February 2026, subject to completion of the subscription process and regulatory procedures.
The shares of Kiaasa Retail are proposed to be listed on the BSE SME platform on 2 March 2026, following successful allotment and share credit.
