Kiaasa Retail Secures BSE Approval for Rs 55 Crore IPO on SME Platform
Kiaasa Retail, a women's ethnic wear brand, has obtained approval from the Bombay Stock Exchange (BSE) for its Initial Public Offering (IPO) on the SME platform. The IPO includes a fresh issue of equity shares worth up to Rs 55.00 crore. Proceeds will be used for new store openings and expansions. Kiaasa operates over 100 exclusive brand outlets across 20 states, focusing on tier-II cities. The company aims to expand to over 250 stores by FY28 and plans international expansion from FY26. Expert Global Consultants is the lead manager for the IPO.
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Kiaasa Retail, a prominent women's ethnic wear brand, has received approval from the Bombay Stock Exchange (BSE) to launch its initial public offering (IPO) on the exchange's Small and Medium Enterprise (SME) platform. This marks a significant milestone for the Ghaziabad-based retailer as it prepares to enter the public market.
IPO Details
The company's IPO comprises a fresh issue of equity shares worth up to Rs 55.00 crore. Kiaasa Retail plans to utilize the proceeds from this offering for new store openings and future expansions, aligning with its growth strategy.
Approval Timeline
| Event | Date |
|---|---|
| Draft Red Herring Prospectus Filing | April 18 |
| Final BSE Approval | August 29 |
Company Overview
Kiaasa Retail operates as a direct-to-consumer retailer, specializing in women's ethnic wear. The company has established a strong presence across India with the following key features:
- Retail Footprint: Over 100 exclusive brand outlets
- Geographic Reach: Present in 20 states
- Target Market: Focus on tier-II cities
Expansion Plans
Kiaasa Retail has outlined ambitious growth plans for the coming years:
- Domestic Expansion: Aims to increase its retail footprint to over 250 stores by FY28
- Global Expansion: Plans to venture into international markets starting FY26
IPO Management
The company has appointed key players to manage its public offering:
- Sole Book Running Lead Manager: Expert Global Consultants
- Registrar: Purva Sharegistry (India) Pvt Ltd
This IPO represents a significant step for Kiaasa Retail, potentially providing the company with the capital needed to fuel its expansion plans and strengthen its position in the competitive women's ethnic wear market. As the company prepares to list on the BSE SME platform, investors and industry observers will be watching closely to see how this move impacts Kiaasa's growth trajectory and the broader retail sector.
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