Kiaasa Retail IPO – Key details

• Company: Kiaasa Retail Limited – D2C women’s ethnic & fusion wear brand (kurtas, suits, lehengas, bottoms, dupattas, accessories).

• IPO type: BSE SME book‑built IPO.
• Issue size: ₹69.72 crore, 100% fresh issue of 54.9 lakh equity shares (FV ₹10).
• Price band: ₹121–₹127 per share.
• IPO dates:
  • Open: 23 February 2026.
  • Close: 25 February 2026.
  • Allotment: 26 February 2026.
  • Refunds/Credit: 27 February 2026.
  • Listing: 2 March 2026 on BSE SME.

• Lot size & minimum investment:

  • Lot size: 1,000 shares; however, retail has to apply for minimum 2 lots (2,000 shares).

  • Minimum retail investment: 2,000 shares × ₹127 = ₹2,54,000 (at upper band).
  • Retail: 2 lots (2,000 shares; ₹2.54 lakh).
  • S‑HNI: 3–7 lots (3,000–7,000 shares; ₹3.81–8.89 lakh).
  • B‑HNI: ≥8 lots (≥8,000 shares; ≥₹10.16 lakh).

• Reservations (approx): Retail 56.03%, NII/QIB balance (as per SME norms).

• Use of proceeds:
  • Around ₹46.45 crore for opening new exclusive brand outlets (EBOs).
  • Balance for general corporate purposes including working capital and brand spends.

Kiaasa Retail – business snapshot

• Founded in 2018, headquartered in Ghaziabad (NCR).
• Focused on women’s ethnic and fusion wear, offering kurtas, suit sets, lehengas, bottoms, dupattas, accessories and selected footwear.
• Retail footprint:
  • Over 113–120+ exclusive brand outlets (EBOs) across ~70 cities in ~20 states.
  • Strong presence in Tier‑2 and Tier‑3 cities via franchise, company‑owned and hybrid models.
• Omni‑channel model:
  • Sales through own EBO network and online platforms like Myntra and Amazon.
• Expansion plan:
  • Open 41 new EBOs in the current financial year and 20 more in FY27, targeting markets such as Bihar, Haryana, MP, Maharashtra, Punjab, Rajasthan, UP and NCR.

IPO Subscription Status

The Kiaasa Retail IPO is subscribed 0.11 times on February 23, 2026 6:54:45 PM (Day 1). The public issue subscribed 0.16 times in the individual investors category, 1.00 times in the QIB category, and 0.01 times in the NII category.

Company Financials

Strengths of Kiaasa Retail IPO

• Niche focus on women’s ethnic and fusion wear with strong brand identity in Tier‑2/3 India.
• 100% fresh issue with proceeds largely for store expansion, driving growth rather than promoter exit.
• Rapidly growing retail footprint with 120+ exclusive brand outlets in ~70 cities.
• Omni‑channel presence across EBOs and leading marketplaces like Myntra and Amazon.
• Affordable fashion positioning catering to mass premium segment of young working women and homemakers.
• Clear store roll‑out plan (41 stores this year, 20 in FY27) to leverage operating leverage and brand recall.

Risks of Kiaasa Retail IPO

• High minimum ticket size (₹2.54 lakh) limits retail participation and increases concentration risk per investor.
• Fashion retail risk with fast‑changing trends and inventory obsolescence pressure.
• Dependence on discretionary spending, vulnerable to slowdown in consumer demand.
• Execution risk in aggressive store expansion and franchise/hybrid models.
• SME platform listing with potential low liquidity and higher price volatility post listing.
• Regional concentration and competition from larger ethnic wear chains and unorganised local players.

How To Apply for the IPO ?

• Login or Open demat account with JM Financial Services / JM PRO app: Open the JM PRO app or JM Financial Services website and log in with your credentials. 
• Locate the IPO Section: Navigate to the 'IPO' section on the platform. 
• Select IPO: Find and select the IPO from the list of open IPOs. 
• Enter the Lot Size: Specify the number of lots you want to bid for. 
• Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application. 
• Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN. 

How To Check the Allotment Status of IPO?

Steps to check IPO allotment status on JM Pro app: 

• Log in to the JM Pro app. 
• Go to the IPO Section and then to IPO Orders. 
• Select the individual IPO that you had applied for and check the allotment status. 

JM Financial Services will notify you of your IPO allotment status via push notification and email