Women’s ethnicwear brand, NCR-based KIAASA, recently announced BSE’s approval for launch of its Initial Public Offering (IPO) on their SME platform.
On 18th April, KIAASA filed its Draft Red Herring Prospectus (DRHP) with BSE and on 29th August, it received its final In-Principle Approval from BSE. This approval takes KIAASA a step ahead in its journey towards becoming a publicly listed entity.
A fresh issue of equity shares totalling Rs.55 crore are included in the IPO and the proceeds from the same will be used for new store openings and future expansion of the company’s retail footprint pan-India. Expert Global Consultants Pvt. Ltd., is managing the issue and the equity hares will be listed on BSE-SME platform.
“We’re thrilled to have secured BSE approval for our IPO, marking a major milestone in our growth journey. With investor support, we’re poised for a successful listing debut, excited to take our company to new heights,” stated Om Prakash, Managing Director of KIAASA.
Amit Chauhan, Director shared his excitement on the approval of their DRHP. As per him, this milestone proves his company’s potential and growth prospects. Amit also appreciated the trust of his stakeholders and is eagerly looking forward to a successful IPO.
Having plans to go global in FY 2025-26, this direct-to-consumer retailer of high-quality ethnic and fusion clothing focusing on Tier-2 cities, already operates around 100+ exclusive brand outlets in the country across 20 states. There are plans to increase this store count to more than 250 stores by FY 2028.
Through a successful franchise model that empowers local entrepreneurs and focuses on customer satisfaction and quality, besides a recent IPO to fund further retail and digital expansion, KIAASA has become one of India’s top women’s ethnicwear brand catering to modern Indian women.
