Riyaasat Lifestyle, a premium ethnic wear brand, plans to raise ₹31 crore through Initial Public Offering on BSE SME.The company will issue 28,48,800 equity shares in the price band of ₹102—₹108 a share. The issue opens for subscription on Thursday.The net proceeds from the IPO will be used to set up four new showrooms, working capital requirements and general corporate purposes.Mark Corporate Advisors will be the book running lead manager while Skyline Financial Services has been appointed as registrar.Gaurang Ramanbhai Galiya, Managing Director, Riyaasat Lifestyle said the company has focused on building a distinctive presence in ethnic and celebration wear segment by offering contemporary designs, superior quality, and an enriching customer experience.“Our brand has been built on a deep understanding of evolving consumer preferences and a commitment to delivering aspirational fashion across markets,” he said.The proceeds from the issue will support our expansion plans, strengthen working capital position and enhance the company’s ability to scale operations efficiently, he added.We believe the growing demand for branded ethnic wear, coupled with strong product portfolio and customer-centric approach will position the company well for the next phase of growth, he added.Balveer Singh Choudhary, Director, Mark Corporate Advisors, said with increasing consumer preference for branded ethnic apparel and the continued growth of India’s fashion retail market, the company is well-positioned to capitalise on emerging opportunities.The proposed IPO will support the company’s growth ambitions, strengthen its operational capabilities and enhance its market presence, he added.Published on June 17, 2026