Kiaasa Retail Set for IPO Milestone on BSE SME Platform

Kiaasa Retail, a women's ethnic wear brand, has received BSE approval for its IPO on the SME platform. The IPO aims to raise Rs 55 crore, facilitating expansion with plans to open new stores and increase its global presence. The company targets 250 outlets by FY28.

Kiaasa Retail, a leading women's ethnic wear brand, announced on Monday its BSE approval to launch an IPO on the exchange's SME platform. The Ghaziabad-based company filed its draft red herring prospectus in April and received final approval on August 29, marking a pivotal step towards a public listing.

The IPO will offer fresh equity shares worth Rs 55 crore, aimed at funding the opening of new stores and further expansion. Managing Director Om Prakash expressed excitement over this achievement, highlighting the company's readiness for its market debut.

Director Amit Chauhan emphasized the significance of the milestone, recognizing stakeholder trust. With an existing network of over 100 stores across 20 states, Kiaasa aims to expand to 250 stores by FY28 and plans a global expansion by FY26. The IPO listing will be managed by Expert Global Consultants.

(With inputs from agencies.)