Kiaasa Retail extends IPO proceeds utilization deadline to Mar 2027

Kiaasa Retail Ltd's Board of Directors, in a resolution passed on May 15, 2026, approved extending the timeline for utilizing unutilized IPO proceeds until March 31, 2027. The company had planned to deploy ₹30.76 crore in FY26 for the expansion of 41 new stores but only managed to utilize ₹23.60 crore, opening 4 stores. The primary reason for the delay was the IPO listing on March 2, 2026, which impacted the full deployment of funds. While inventory-related expenditure was approximately 18% higher than projected, fit-out expenses were 96% lower. The company confirmed that there is no change in the objects of the issue, and the proceeds will continue to be utilized solely for the purposes stated in the Issue Document.