Ethnic Wear Retailer Plans 4 New Stores, Launches Rs 30.77 Crore SME IPO On June 18; Check Details

Ahmedabad-based Riyaasat Lifestyle Ltd, a company engaged in the design and sale of men's and women's ethnic wear, is set to launch its initial public offering (IPO) on the BSE SME platform. The public issue will open for subscription on June 18, 2026, and close on June 22, 2026.

The company intends to utilise the proceeds from the IPO towards capital expenditure for establishing new showrooms, meeting working capital requirements and funding general corporate purposes.

Riyaasat Lifestyle IPO Details

Riyaasat Lifestyle plans to raise approximately Rs 30.77 crore through the issue of 28,48,800 equity shares with a face value of Rs 10 each. The IPO will be offered through the book-building route with a price band of Rs 102 to Rs 108 per share.

The minimum application size has been fixed at 1,200 shares per lot, while retail investors will be required to apply for a minimum of two lots.

The issue is being managed by Mark Corporate Advisors Private Limited, which is acting as the book-running lead manager.

About Riyaasat Lifestyle

Incorporated in October 2021, Riyaasat Lifestyle Ltd  operates in the premium ethnic wear segment and offers a wide range of traditional apparel for both men and women.

The company's product portfolio includes kurtas, pyjamas, sherwanis, Jodhpuri suits, lehengas, gowns and other ethnic fashion categories, catering to wedding, festive and celebration wear demand.

Riyaasat positions itself as a premium ethnic fashion brand focused on combining traditional craftsmanship with contemporary designs. The company sources fabrics and products from premium weavers across six Indian states and undertakes finishing and customization work through its Mumbai-based workshop.

Retail Presence And Expansion Plans

The company launched its first Exclusive Brand Outlet (EBO) in Ahmedabad on October 23, 2021.

Currently, Riyaasat operates six Exclusive Brand Outlets across Gujarat and Maharashtra, with store sizes ranging from approximately 1,790 square feet to 9,419 square feet.

Apart from offline retail, the company also sells products through its official website and online platforms, including Pernia's Pop-Up Shop, expanding its reach across digital channels.

As part of its growth strategy, Riyaasat plans to establish four new stores in Mumbai, Surat, Hyderabad and Bengaluru, which will be funded partly through the IPO proceeds.
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Financial Performance

The company has reported steady growth in both revenue and profitability over the last few years.

Growth Outlook

The company believes that increasing demand for premium ethnic wear, expansion of its retail footprint, growing online presence and rising spending on wedding and festive apparel provide significant long-term growth opportunities.

With plans to enter additional metropolitan markets and strengthen its brand presence, Riyaasat aims to expand its position in India's organised ethnic wear segment.

Disclaimer: This article is for informational purposes only and does not constitute investment advice