Kiaasa Retail IPO
Live Updates, GMP, Subscription Data, and Financial Details
IPO Overview
Listed
Dates
Feb 23 to Feb 25 2026
Price Band
₹121 - 127
Current GMP
₹123.0 (-3.15%)
Subscription
2.05 times
IPO Details
| IPO Date | 23 to 25 Feb, 2026 |
| Listing Date | Mon, Mar 2, 2026 |
| Face Value | ₹ 10 per share |
| Price Band | ₹121 to ₹127 |
| Issue Price | ₹127 per share |
| 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) Prabhat Financial Services Ltd. |
| 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 |
| BSE Script Code | 544711 |
| ISIN | INE1C3F01018 |
IPO Date
23 to 25 Feb, 2026
Listing Date
Mon, Mar 2, 2026
Face Value
₹ 10 per share
Price Band
₹121 to ₹127
Issue Price
₹127 per share
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) Prabhat Financial Services Ltd.
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
BSE Script Code
544711
ISIN
INE1C3F01018
IPO Subscription Details
| Market Maker | 1 |
| QIB (Ex Anchor) | 14.98 |
| NII*** | 1.16 |
| bNII (> ₹10L) | 1.29 |
| sNII (< ₹10L) | 0.90 |
| Individual Investors | 2.43 |
| Total ** | 2.05 |
Market Maker
1
QIB (Ex Anchor)
14.98
NII***
1.16
bNII (> ₹10L)
1.29
sNII (< ₹10L)
0.90
Individual Investors
2.43
Total **
2.05
Day Wise Sub
| Day | QIB (Ex Anchor) | NII* | NII (> ₹10L) | NII (< ₹10L) | Individual Investors | Total |
|---|---|---|---|---|---|---|
| Feb 2 3 (Day 1) | 1.00 | 0.01 | 0.00 | 0.04 | 0.16 | 0.11 |
| Feb 2 4 (Day 2) | 1.00 | 0.61 | 0.83 | 0.15 | 0.59 | 0.60 |
| Feb 2 5 (Day 3) | 14.98 | 1.16 | 1.29 | 0.90 | 2.43 | 2.05 |
DayFeb 2
3 (Day 1)
QIB (Ex Anchor)1.00
NII*0.01
NII (> ₹10L)0.00
NII (< ₹10L)0.04
Individual Investors0.16
Total0.11
DayFeb 2
4 (Day 2)
QIB (Ex Anchor)1.00
NII*0.61
NII (> ₹10L)0.83
NII (< ₹10L)0.15
Individual Investors0.59
Total0.60
DayFeb 2
5 (Day 3)
QIB (Ex Anchor)14.98
NII*1.16
NII (> ₹10L)1.29
NII (< ₹10L)0.90
Individual Investors2.43
Total2.05
Day Wise GMP
| Date | Price | GMP | Estimate List Price |
|---|---|---|---|
| 02-03-2026 | 127.00 | 0(0.00%) | 127 |
| 01-03-2026 | 127.00 | 0(0.00%) | 127 |
| 28-02-2026 | 127.00 | 0(0.00%) | 127 |
| 27-02-2026 | 127.00 | 0(0.00%) | 127 |
| 26-02-2026 | 127.00 | 0(0.00%) | 127 |
| 25-02-2026 | 127.00 | 0(0.00%) | 127 |
| 24-02-2026 | 127.00 | 26(20.47%) | 153 |
| 23-02-2026 | 127.00 | 26(20.47%) | 153 |
| 22-02-2026 | 127.00 | 0(0.00%) | 127 |
| 21-02-2026 | 127.00 | 0(0.00%) | 127 |
| 20-02-2026 | 127.00 | 0(0.00%) | 127 |
| 19-02-2026 | 127.00 | 0(0.00%) | 127 |
| 18-02-2026 | 127.00 | 0(0.00%) | 127 |
Date02-03-2026
Price127.00
GMP0(0.00%)
Estimate List Price127
Date01-03-2026
Price127.00
GMP0(0.00%)
Estimate List Price127
Date28-02-2026
Price127.00
GMP0(0.00%)
Estimate List Price127
Date27-02-2026
Price127.00
GMP0(0.00%)
Estimate List Price127
Date26-02-2026
Price127.00
GMP0(0.00%)
Estimate List Price127
Date25-02-2026
Price127.00
GMP0(0.00%)
Estimate List Price127
Date24-02-2026
Price127.00
GMP26(20.47%)
Estimate List Price153
Date23-02-2026
Price127.00
GMP26(20.47%)
Estimate List Price153
Date22-02-2026
Price127.00
GMP0(0.00%)
Estimate List Price127
Date21-02-2026
Price127.00
GMP0(0.00%)
Estimate List Price127
Date20-02-2026
Price127.00
GMP0(0.00%)
Estimate List Price127
Date19-02-2026
Price127.00
GMP0(0.00%)
Estimate List Price127
Date18-02-2026
Price127.00
GMP0(0.00%)
Estimate List Price127
IPO Important Dates
| IPO Open | Mon, Feb 23, 2026 |
| IPO Close | Wed, Feb 25, 2026 |
| Allotment | Thu, Feb 26, 2026 |
| Refund | Fri, Feb 27, 2026 |
| Credit of Shares | Fri, Feb 27, 2026 |
| Listing | Mon, Mar 2, 2026 |
IPO Open
Mon, Feb 23, 2026
IPO Close
Wed, Feb 25, 2026
Allotment
Thu, Feb 26, 2026
Refund
Fri, Feb 27, 2026
Credit of Shares
Fri, Feb 27, 2026
Listing
Mon, Mar 2, 2026
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,000 | ₹2,54,000 |
| Individual investors (Retail) (Max) | 2 | 2,000 | ₹2,54,000 |
| S-HNI (Min) | 3 | 3,000 | ₹3,81,000 |
| S-HNI (Max) | 7 | 7,000 | ₹8,89,000 |
| B-HNI (Min) | 8 | 8,000 | ₹10,16,000 |
ApplicationIndividual investors (Retail) (Min)
Lots2
Shares2,000
Amount₹2,54,000
ApplicationIndividual investors (Retail) (Max)
Lots2
Shares2,000
Amount₹2,54,000
ApplicationS-HNI (Min)
Lots3
Shares3,000
Amount₹3,81,000
ApplicationS-HNI (Max)
Lots7
Shares7,000
Amount₹8,89,000
ApplicationB-HNI (Min)
Lots8
Shares8,000
Amount₹10,16,000
Key Performance Indicator
| ROE | 20.20% |
| ROCE | 12.02% |
| Debt/Equity | 0.91 |
| RoNW | 14.03% |
| PAT Margin | 11.46% |
| EBITDA Margin | 21.17% |
| Price to Book Value | 3.42 |
ROE
20.20%
ROCE
12.02%
Debt/Equity
0.91
RoNW
14.03%
PAT Margin
11.46%
EBITDA Margin
21.17%
Price to Book Value
3.42
Peers Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (₹ per share) | P/E (x) | RoNW (%) | P/BV Ratio |
|---|---|---|---|---|---|---|
| Kiaasa Retail Ltd. | 6.58 | 6.58 | 31.93 | 20.60 | ||
| Monte Carlo Fashion Limited | 39.15 | 39.15 | 40.23 | 17.11 | 9.73 | 16.75 |
| Kewal Kiran Clothing Limited | 23.44 | 23.44 | 13.31 | 23.59 | 18.20 | 42.54 |
| Purple United Sales Limited | 13.59 | 13.59 | 6.30 | 33.61 | 17.30 | 76.00 |
Company NameKiaasa Retail Ltd.
EPS (Basic)6.58
EPS (Diluted)6.58
NAV (₹ per share)31.93
P/E (x)
RoNW (%)20.60
P/BV Ratio
Company NameMonte Carlo Fashion Limited
EPS (Basic)39.15
EPS (Diluted)39.15
NAV (₹ per share)40.23
P/E (x)17.11
RoNW (%)9.73
P/BV Ratio16.75
Company NameKewal Kiran Clothing Limited
EPS (Basic)23.44
EPS (Diluted)23.44
NAV (₹ per share)13.31
P/E (x)23.59
RoNW (%)18.20
P/BV Ratio42.54
Company NamePurple United Sales Limited
EPS (Basic)13.59
EPS (Diluted)13.59
NAV (₹ per share)6.30
P/E (x)33.61
RoNW (%)17.30
P/BV Ratio76.00
IPO Reservation
| Market Maker Shares Offered | 2,75,000 (5.01%) |
| QIB Shares Offered | 52,000 (0.95%) |
| NII (HNI) Shares Offered | 20,87,000 (38.01%) |
| − bNII > ₹10L | 13,91,000 (25.34%) |
| − sNII < ₹10L | 6,96,000 (12.68%) |
| Retail Shares Offered | 30,76,000 (56.03%) |
| Total Shares Offered | 54,90,000 (100.00%) |
Market Maker Shares Offered
2,75,000 (5.01%)
QIB Shares Offered
52,000 (0.95%)
NII (HNI) Shares Offered
20,87,000 (38.01%)
− bNII > ₹10L
13,91,000 (25.34%)
− sNII < ₹10L
6,96,000 (12.68%)
Retail Shares Offered
30,76,000 (56.03%)
Total Shares Offered
54,90,000 (100.00%)
Information about company
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:
Objectives of IPO
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 10.00 Total 56.45
Disclaimer
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