Agrawal has cited personal reasons and relocation to native place to take care of his family as reasons for stepping down
Kiaasa Retail on Friday said that Sumit Agrawal, its Chief Financial Officer (CFO) has tendered his resignation from the post with effect from 30 April 2026. Agrawal cited personal reasons and relocation to native place to take care of his family as reasons for stepping down.
“We hereby inform that in compliance with the Regulation 30 of the Sebi (Listing Obligations and Disclosure Requirements) Regulations, 2015, Sumit Agrawal has tendered his resignation from the post of Chief Financial Officer (CFO) of the company with effect from 30 April 2026 due to personal reasons and relocation to native place to take care of his family,” the company said in an exchange filing.
In his resignation letter to the board of directors, Agrawal noted that he is committed to ensuring a smooth transition of his responsibilities and will extend his full cooperation during the notice period. Agrawal will also exit his role as Key Managerial Personnel (KMP) of the company.
The company opened four retail outlets (exclusive brand outlets) in March 2026 under the brand name Kiaasa, it said in an earlier exchange filing. The women’s ethnic wear retail brand from NCR recently marked its listing on the BSE SME platform. The company’s Initial Public Offering (IPO), introduced at a price band of Rs 121 to Rs 127 per equity share, received an encouraging response from investors across categories. The issue was subscribed 2.05 times overall.
Through the IPO, Kiaasa Retail raised approximately Rs 69.7 crore, which will be utilised towards expansion of its retail network, strengthening omnichannel capabilities, enhancing backend infrastructure, supporting working capital requirements and reinforcing brand development initiatives.
