Riyaasat Lifestyle IPO Kickstarts June 18, Price Band Rs 102-108

Riyaasat Lifestyle, an ethnic wear company based in Ahmedabad, will open its initial public offering on June 18. The company set a price band of Rs 102 to Rs 108 per share and aims to raise about Rs 30.77 crore through the issue, the company said in a statement.

The IPO closes on June 22. The offer comprises 28,48,800 equity shares of face value Rs 10 each through a book-built process. Mark Corporate Advisors is the lead manager.

Riyaasat operates six exclusive brand outlets across Gujarat and Maharashtra. The stores range from 1,790 to 9,419 square feet. The company sells ethnic wear for men and women. It plans to use the proceeds for capital expenditure on four new showrooms and working capital needs, the statement said.

For the financial year ended March 2025, Riyaasat reported total income of Rs 25.19 crore and a profit after tax of Rs 4.87 crore. At the upper end of the price band, the offering values the company at roughly 6 times its trailing earnings, though the post-issue market capitalisation could be higher depending on the final share count. The small scale – six stores and Rs 25 crore in revenue – means execution risk on the expansion plan is material. Investors will watch subscription numbers and any grey market premium through the bidding period.

The IPO follows other SME listings on the BSE platform this month, including Diksha Polymers IPO opens for bidding today. Riyaasat's shares are expected to list on the BSE SME platform after the offering closes.