Ethnic wear brand Kiaasa's ₹69.7cr IPO opens: Should you apply
Kiaasa Retail, known for women's ethnic wear, just opened its IPO with shares priced at ₹121-127 each.
The offer is open till February 25 and is a fresh issue aggregating up to about ₹69.7 crore, of which approximately ₹46.44-46.45 crore will be used to open new stores and the balance for general corporate purposes.
54.9 lakh shares available, with 56% reserved for retail investors
There are 54.9 lakh shares up for grabs, with 56.03% reserved for retail investors.
If you're thinking of applying, the minimum bid is two lots (2,000 shares), which comes to ₹2.54 lakh at the top price band.
From online store to 113 exclusive brand outlets across India
Started in 2018, Kiaasa sells everything from salwar kameezes and lehengas to jewelry and bags—both online and through 113 exclusive brand outlets across 70 cities, as stated in the company's RHP.
The RHP does not mention a promoter takeover year.
Strong financials and falling promoter stake post-IPO
Kiaasa's numbers look strong: return on equity is a hefty 73%, return on capital employed is over 33%, and profit margin sits at nearly 7%.
Promoters' stake will drop from about 72% to just above 50% after this IPO.