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:
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:
| 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 |
| Amount in ₹ Crore | ||||
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 | |
| Total | 46.45 |
| KPI | Sep 30, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | 20.20% | 42.36% |
| ROCE | 12.02% | 20.34% |
| Debt/Equity | 0.91 | 0.70 |
| RoNW | 14.03% | 20.60% |
| PAT Margin | 11.46% | 6.94% |
| EBITDA Margin | 21.17% | 12.84% |
| Price to Book Value | 3.42 | 3.98 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 6.58 | 7.28 |
| P/E (x) | 19.31 | 17.44 |
| IPO Date | 23 to 25 Feb, 2026 |
| Listing Date | Mon, Mar 2, 2026 |
| Face Value | ₹10 per share |
| Price Band | ₹121 to ₹127 |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh Capital |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 54,90,000 shares (agg. up to ₹70 Cr) |
| Reserved for Market Maker | 2,75,000 shares (agg. up to ₹3 Cr) |
| Net Offered to Public | 52,15,000 shares (agg. up to ₹66 Cr) |
| Share Holding Pre Issue | 1,27,39,005 shares |
| Share Holding Post Issue | 1,82,29,005 shares |
The promoters of the company are Mr. Vinod Gupta and Mrs. Arnima Gupta.
| Share Holding Pre Issue | 71.84% |
| Share Holding Post Issue | 50.82% |
As per our analysis and Based on the information we have, this is the output.
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