Kiaasa Retail IPO Subscribed Twice, Shares List Below Issue Price Amid Market Volatility

Kiaasa Retail's IPO, priced at Rs 127 per share and raising nearly Rs 70 crore, was subscribed over twice when it closed on February 25. The company, specializing in women's ethnic wear with over 100 stores, debuted on the BSE SME platform on March 2. Despite strong QIB interest in a small portion, the shares listed weakly, falling to a lower circuit of Rs 116.85 amid broader market volatility and flat grey market premiums, indicating limited listing gains expectations.