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:
- Kurtas and Kurta Sets
- Suit Sets
- Lehenga Sets
- Bottoms and Dupattas
- Accessories
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:
- Strong Leadership and Fast Growth.
- Designs That Connect with Local Culture.
- Strict Quality Checks for Every Product
- Affordable Prices Without Compromising Quality.
| Purpose | Amount (₹ Cr) |
|---|---|
| Expenditure for opening new stores | ₹46.45 |
| General corporate purposes | — |
| Metric | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Total Assets | 181.81 | 144.30 | 95.42 |
| Revenue | 58.01 | 120.70 | 85.19 |
| PAT | 6.64 | 8.38 | 5.74 |
| EBITDA | 12.26 | 15.49 | 10.01 |
| Net Worth | 47.31 | 40.67 | 12.71 |
| Reserves | 34.57 | 27.93 | 8.21 |
| Total Borrowing | 43.03 | 28.67 | 15.88 |
- 1 Initiation of Refund 27 Feb 2026
- 2 Credit of Shares to Demat 27 Feb 2026
- Retail allocation is strong at 56.0% of the total offering.
- HNI/NII demand is strong at 38.0%.
- Institutional (QIB) interest is moderate at 1.0%.
- The IPO P/E of 17.44x reflects a good valuation relative to typical market ranges.
- Pre-issue EPS of ₹6.58 compares to post-issue EPS of ₹7.28 after dilution.
This IPO shows moderate investor interest. Review financial details and compare valuation with industry peers before investing.
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