Kiaasa Retail IPO Listing at 3% discount at ₹123.00 Per Share

Posted by : Neeraj Pandey | Mon Mar 02 2026

Kiaasa Retail IPO Listing Today: The Kiaasa Retail IPO was subscribed 2.05 times at the time of its closing. In this subscription, qualified institutional buyers (QIBs) received 14.98 times, and non-institutional investors (NIIs) received 1.16 times. The retail quota of the issue was subscribed to 56.03%. Before delving deeper into the topic, go through the details of the Kiaasa Retail IPO.

Table of Contents

Kiaasa Retail IPO

It is a bookbuilding IPO of ₹69.72 crore, comprising an entirely fresh issue of 0.55 crore shares. The issue will be listed on BSE and SME on its tentative listing date, 2nd March 2026. The Manilam Industries IPO date is fixed between 23rd February 2026 to 25th February 2026. The face value of Manilam Industries shares stands at ₹10 per share, and the IPO Issue price band is set at ₹65 to ₹69 per share

IPO Allotment Date	26th February 2026
IPO Open Date	23th January 2026
IPO Close Date	25th February 2026
Refund Initiation	27th February 2026
Issue Size	54,90,000 shares(agg. up to ₹70 Cr)
Face Value	₹10 per share
Lot Size	1,000 Shares
Issue Price	₹121 to ₹127 per share
Issue Type	Bookbuilding IPO
Listing At	BSE SME
Listing Date	2nd March 2026

Kiaasa Retail Listing

On the BSE & SME platforms, Kiaasa Retail shares are listed at ₹123.00 per share, reflecting a 3% discount over the issue price of ₹127.00 per share.

About Kiaasa Retail Limited

Kiaasa Retail Founded in 2018, it is an Indian fashion brand that specialises in women’s ethnic and fusion wear. Founded in 2018 and headquartered in Ghaziabad, it has over 100 stores across over 80 cities in India. Kiaasa provides a wide range of women’s ethnic wear, including:

Kurtas and Kurta Sets
Suit Sets
Lehenga Sets
Bottoms and Dupattas
Accessories

Kiaasa is an ethnic wear brand that provides a wide range of women’s clothing, footwear, and accessories such as salwar kameez, lehengas, jewellery, bags, and scarves. The brand caters to the fashion requirements of Indian women with quality and affordable products that represent individuality. The company functions through exclusive stores and online platforms for better reach. The company has 113 brand stores in 70 cities, along with an online presence. The company functions through three models: FOFO (Franchise Owned Franchise Operated), COCO (Company Owned Company Operated), and FICO (Franchise Invested Company Operated), which helps in efficient management of the retail network.

Kiaasa Retail Limited Financials

The company’s financial analysis is essential before applying for the Manilam Industries IPO. See the table for Manilam Industries Limited’s financials.

Year Ended	28th Feb 2025 (in cr.)	31st March 2024 (in cr.)	31st March 2023 (in cr.)	31st March 2022
Assets	141.47	95.42	54.26	30.18
Revenue	107.67	85.19	50.18	26.75
Profit After Tax	7.38	5.74	2.46	1.36
EBITDA	–	–	–	–
Net Worth	39.67	12.71	2.96	0.50
Reserves and Surplus	34.00	8.21	2.46	0.00
Total Borrowings	25.14	15.88	21.17	15.65

Explanation

Kiaasa Retail Limited’s revenue increased by 69.76% from ₹50.18 crores in March 2023 to ₹85.19 crores in March 2024. Moreover, the company’s PAT increased by 13.33% from ₹2.46 crores in March 2023 to ₹5.74 crores in March 2024.