The Kiaasa Retail IPO, which opened to a muted response from investors on Monday, Feb. 23, has shown substantial gains on Day 1 of the subscription. The GMP for the SME IPO has gained on Monday, indicaing potential listing gains of over 20%. The initial public offering aims to raise almost Rs 70 crore from the primary market.
The BSE SME issue was subscribed 0.05 times on the first day of bidding so far. The IPO received bids for 2,51,000 shares against 54,90,000 offered. Kiaasa Retail is a fashion company specialising in women's ethnic wear.
Investors who want to bid for shares in the IPO are advised to check the following details before making an investment call:
Kiaasa Retail IPO GMP Today
According to InvestorGain, the GMP for the Kiaasa Retail IPO stood at Rs 26 on Feb. 23. The latest GMP indicates a potential listing price of Rs 153, a premium of 20.47% over the upper limit of the issue price of Rs 127 per share.
Note: GMP does not represent official data and is based on speculation.
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Kiaasa Retail IPO: Key Details
The Kiaasa Retail IPO is a book-built issue worth Rs 69.72 crore. It comprises a fresh issuance of 55 lakh shares. The price band for the IPO has been fixed between Rs 121 and Rs 127 per share.
To participate in the IPO, retail investors need to bid for two lots comprising 2,000 shares, requiring an investment of Rs 2,54,000. High net worth individuals (HNIs) need to bid for at least three lots, amounting to a minimum investment of Rs 3,81,000.
The BSE SME issue will remain open for subscription till Feb. 25, with share allotment likely to be finalised on Feb. 26. Successful applicants can expect the shares to be credited to their demat accounts on Feb. 27, while refunds to unsuccessful bidders will also be processed the same day.
Shares of the company are scheduled to be listed on the BSE SME platform on March 2.
Expert Global Consultants Ltd. is the book running lead manager and Purva Sharegistry (India) Ltd. is the registrar of the issue.
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Use Of Proceeds
The company will use proceeds from the IPO to fund opening of new stores and for general corporate purposes.
About Kiaasa Retail
Kiaasa Retail is a fashion retailer specialising in women's ethnic and fusion wear. It operates over 100 stores across 80 cities in India.
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Financials
The company reported a 42% year-on-year (YoY) rise in revenue from operations to Rs 120.68 crore in FY25 from Rs 85.04 crore in FY24. Net profit grew 46% YoY to Rs 8.38 crore in FY25 from Rs 5.75 crore in the previous financial year.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
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