- Price band of Rs 121– Rs 127 per Equity Share bearing face value of Rs 10 each (“Equity Shares”)
- Bid/Offer Opening Date – Monday, February 23, 2026, and Bid/Offer Closing Date – Wednesday, February 25, 2026.
- Minimum Bid is 2 Lots and in multiples of 1,000 Equity Shares thereafter
MUMBAI, India, Feb. 19, 2026 /PRNewswire/ — KIAASA Retail Limited has fixed the price band of Rs 121/- to Rs 127/- per Equity Share of face value ₹10/- each for its maiden initial public offer.
The Initial Public Offering (“IPO” or “Issue”) of the Company will open on Monday, February 23, 2026, for subscription and close on Wednesday, February 25, 2026.
Investors can bid for a minimum of 2 Lots and in multiples of 1,000 Equity Shares thereafter.
Equity shares outstanding as on date is 1,27,39,005 Equity Shares of face value of Rs 10 each.
The IPO is a fresh issue of up to Rs 69.7 crore.
The proceeds from the fresh issue to the extent of Rs 46.44 crore will be used for expenditure for opening new stores, and general corporate purposes.
The Offer is being made through the book-building process, wherein not more than 50% of the net offer is allocated to qualified institutional buyers, and not less than 15% and 35% of the net offer is assigned to non-institutional bidders and retail individual bidders respectively.
The company is an ethnic wear brand that offers a wide range of apparel, footwear, and accessories designed exclusively for women. The product portfolio includes salwar kameez, lehengas, jewellery, bags, and scarves. The company’s brand caters to the evolving fashion needs of Indian women by providing high-quality and affordable products that reflect their individuality. It operates through a network of exclusive brand outlets and online presence, ensuring accessibility across multiple platforms.
Its first store was launched in Kamla Nagar, Delhi, in June 2018, and over the next few years the company has expanded its footprint across India, focusing on building a strong customer base and enhancing its product offerings.
In March 2021, the current company promoters, namely Mr Om Prakash and Mr Amit Chauhan, took over the business from existing partners/ shareholders, contributing to rapid growth and operational improvements.
And by September 2021, the company achieved a significant milestone by opening its 50th store in Vadodara. To strengthen its presence in the southern region, the company acquired ‘U-Women’ brand in December 2021. Further expansion followed with the acquisition of the brand ‘LAABHA’ in February 2022, enhancing the company’s brand’s presence within Delhi/NCR.
By March 2022, the company opened its 100th store at Crown Interior, Faridabad. In October 2022, the company transitioned to an omni-channel model, integrating its physical stores with digital platforms to provide a seamless shopping experience. The company currently operates 124 exclusive brand outlets across 70 cities, supported by an online presence.
The company’s revenue from operations was Rs 57.91 crore during the six months ended 30 September 2025, and net profit stood at Rs 6.63 crore for this period.
The company’s revenue from operations was Rs 120 crore during FY25 vis-à-vis Rs 85 crore during FY24.
Its net profit was Rs 8.3 crore during FY25 vis-à-vis Rs 5.74 crore during FY24.
Expert Global Consultants Private Limited is the book-running lead manager, and Purva Sharegistry (India) Pvt Ltd is the registrar of the offer.
KIAASA Retail Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its Equity Shares and has filed a red herring prospectus dated 16 February, 2026, with the RoC. The RHP is made available on the website of the SEBI at www.sebi.gov.in as well as on the website of the BRLM i.e. https://www.expertglobal.in/, at the website of the NSE at www.nseindia.com and the website of the BSE at www.bseindia.com and the website of the Company at https://kiaasa.com/.
Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risks, please see the section “Risk Factors” beginning on page 36 of the RHP. Potential investors should not rely on the DRHP for making any investment decision but should only rely on the information included in the RHP filed by the Company with the RoC.
The Equity Shares offered in the Issue have not been, and will not be, registered under the U.S. Securities Act and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. The Equity Shares offered in the issue are being offered and sold only outside the United States in “offshore transactions” as defined in and in reliance on Regulation S under the U.S. Securities Act (“Regulation S”).
Disclaimer Clause of Securities and Exchange Board of India (“SEBI”): SEBI only gives its observations on the offer documents, and this does not constitute approval of either the Issue or the specified securities stated in the Offer Documents. The investors are advised to refer to page 262 of the UDRHP for the full text of the disclaimer clause of SEBI.
Disclaimer Clause of SME PLATFORM of BSE: It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the RHP has been cleared or approved by BSE Limited, nor does it certify the correctness or completeness of any of the contents of the RHP. The investors are advised to refer to page 263 of the UDRHP for the full text of the disclaimer clause of BSE.
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