Riyaasat Lifestyle IPO Opens Tomorrow; Price Band Set At ₹102-108

Riyaasat Lifestyle Ltd will open its initial public offering (IPO) for subscription on 18 June, i.e., tomorrow. The SME issue will remain available for bidding till 22 June. The Ahmedabad-based company plans to raise ₹30.77 crore through the public issue.

Riyaasat Lifestyle Ltd IPO is entirely a fresh issue of 0.28 crore equity shares. The company sells ethnic apparel for men and women through its exclusive retail stores. It currently operates six exclusive brand outlets across Gujarat and Maharashtra. The stores range in size from 1,790 square feet to 9,419 square feet.

Based on the upper end of the price band, a retail investor will need a minimum investment of ₹2,59,200 to apply for one lot. The promoters of the company are:

• Gaurang Ramanbhai Galiya

• Ramanbhai Nanubhai Galiya

• Sobhanaben R Galiya

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Funds To Be Used For Expansion

According to the company's stated plans, proceeds from the IPO will be used for capital expenditure, working capital requirements, and general corporate purposes.

A portion of the funds will go towards setting up four new showrooms. The company is also looking to strengthen its retail network through expansion. For the financial year ended FY25, Riyaasat Lifestyle reported total income of ₹25.19 crore. Profit after tax stood at ₹4.87 crore during the same period.

Sources:

Livemint

The Hindu Businessline