Ethnic wear brand Kiaasa Retail has filed its draft prospectus with the BSE’s SME exchange, initiating plans for an all-new issue initial public offering (IPO) of up to 55 lakh equity shares.
The IPO funds will finance an aggressive store opening in India’s Tier‑2 and Tier‑3 cities, enhance the brand’s omnichannel and digital platforms, and provide for working-capital and other corporate requirements, as per the filing.
As a direct-to-consumer retailer of high-quality ethnic and fusion clothing, Kiaasa operates around 100 exclusive brand outlets in the country across 20 states and plans to increase that number to over 250 stores by FY 2028. The firm also operates a kidswear segment.
Om Prakash, Managing Director at Kiaasa Retail said that the IPO marks a new chapter for Kiaasa as they grow with a customer-first culture and an attitude of ongoing innovation. He further stated that the company is gearing up to access international demand for Indian ethnic apparel through its online platform and strategic alliances.
Expert Global Consultants has been designated sole book-running lead manager, while Purva Sharegistry (India) will act as issue registrar.
