Kiaasa Retail gets BSE NOD for RS 55-CR IPO to finance expansion plans

Monday before the ethnic brand Kiaasa for Women, on Monday said that the BSE approval to launch its first stock sales on the SME platform of the Exchange.

Retailer, based in Ghaziabad, had submitted his concept Red Herring Prospectus (DRHP) to the BSE on April 18 and on 29 August the final approval in the principle, which marked an important milestone in his journey to become a listed entity, the company said in a statement.

The proposed IPO will form a new issue of shares that collect up to RS 55 Crore. The proceeds from the new issue will be used for new stores opening and future extensions.

“We are very happy that we have obtained BSE approval for our IPO, so that an important milestone is marked in our growth requirement. With investor support we are ready for a successful list debut, enthusiastic to bring our company to new heights,” said Kiaasa Retail’s director for Prakash.

Director Amit Chauhan added that this milestone underlines the potential and growth views of the company. “We appreciate the confidence of our stakeholders and look forward to a successful IPO,” he said.

The proceeds of the problem will be used for expansion of the company’s footprint. As a direct-to-consumer retailer of high-quality ethnic and fusion clothing focus cities of merger clothing, Kiaasa, which operates more than 100 exclusive brand outlets in 20 states, can be extended to more than 250 stores by FY28. The company is also planning to expand worldwide in FY26.

The shares of the company are proposed to be mentioned on the SME platform of the BSE.

Expert Global Consultants is the only book Running Lead Manager, while Purva Share Regry (India) PVT LTD is the registrar for the IPO.