Kiaasa Retail has filed its preliminary papers with BSE's SME platform to raise funds through an Initial Public Offering (IPO). The IPO is entirely a fresh issue of up to 55 lakh equity shares.
Proceeds from the issue will be used for expansion of the company's retail footprint across Tier II and Tier III cities, enhancement of its omni-channel and digital presence and working capital requirements and general corporate purposes. Expert Global Consultants is the sole book running lead manager for the IPO.
Kiaasa is a direct-to-consumer brand catering to India's growing demand for affordable ethnic and fusion wear. The company currently operates over 100 exclusive brand outlets across 20 states and plans to scale up to 250+ stores by FY28.
