Kiaasa Retail IPO: The initial public offering (IPO) of Kiaasa Retail, an Indian fashion brand, kicked off for bidding on Monday, February 23. The SME IPO will be open till Wednesday, February 25.
Kiaasa Retail IPO price band has been fixed at ₹121 to ₹127 per share. The book-built offer is entirely a fresh issue of 0.55 crore shares worth ₹69.72 crore at the upper end of the price band. Since there is no offer-for-sale (OFS) component, the proceeds will go entirely to the company.
Kiaasa plans to use the offer proceeds for opening up new stores and general corporate purposes. Investors can apply for the SME IPO in lots of 1000 shares. The minimum investment required by retail investors at the upper end of the price band is ₹2,54,000 as they need to apply for at least two lots.
Kiaasa Retail IPO’s basis of allotment is expected to be finalised on Thursday, February 26. Shares will be credited to the demat account of investors on Friday, February 27, and the refund to non-allottees is expected on the same day.
The shares of Kiaasa Retail will list on BSE SME, with the tentative listing date set as Monday, March 2.
Kiaasa Retail IPO subscription status
According to data from Chittorgarh, Kiaasa Retail IPO is witnessing a slow demand. The offer received bids for 5,02,000 shares as against 52,15,000 shares on offer, resulting in a subscription status of 10% as of 3.55 pm on the first day.
The retail portion was booked 14% and the non-institutional investor (NII) quota at just 1%.
Kiaasa Retail IPO GMP today
The grey market premium (GMP) for Kiaasa Retail IPO has seen a sharp spike. Data from Investorgain shows that Kiaasa Retail IPO GMP today is ₹26 as against nil earlier.
At the prevailing GMP, Kiaasa Retail IPO listing price could be ₹153, suggesting a listing pop of 20.47%. This is the highest GMP for Kiaasa Retail IPO so far. Investors must know that GMP is subject to swift changes and should not be the sole factor for making investment decisions.
Kiaasa Retail IPO details
Kiaasa is an ethnic wear brand offering a wide range of apparel, footwear, and accessories designed exclusively for women. Its product portfolio includes salwar kameez, lehengas, jewellery, bags, and scarves. The brand caters to the evolving fashion needs of Indian women by providing high-quality, affordable products that reflect their individuality.
Kiaasa operates through a network of exclusive brand outlets as well as an online platform, ensuring accessibility across multiple channels. It operates over 100 stores in more than 80 cities across India. The company has 113 brand outlets in 70 cities, plus an online presence.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
