Kiaasa Retail IPO

Kiaasa Retail Limited is an ethnic wear retail company focused on women’s apparel, footwear, and accessories. The company was incorporated as Kiaasa Retail LLP in 2018, converted into a private limited company in 2022, and became a public limited company in October 2024. The company’s product portfolio includes salwar kameez, lehengas, jewellery, bags, and scarves. It operates through exclusive brand outlets and an online platform. Its retail network functions under FOFO (Franchise Owned, Franchise Operated), COCO (Company Owned, Company Operated), and FICO (Franchise Invested, Company Operated) models. Kiaasa adopted an omnichannel approach in October 2022 by integrating physical stores with digital platforms. It also acquired the brands ‘U-Women’ in December 2021 and ‘LAABHA’ in February 2022. Kiaasa began operations with its first store in Kamla Nagar, Delhi, in June 2018. As of the date of the prospectus, it operates over 113 exclusive brand outlets across 70 cities in India, supported by an ERP-based operational system.;