| Annual Financials | Mar 2024 | Mar 2025 | Mar 2026 |
| Revenue | 28.88 | 60.25 | 117.09 |
| Expenses | 28.26 | 52.19 | 95.88 |
| Other Income | 0.02 | 0.03 | 0.14 |
| Total Revenue | 28.90 | 60.28 | 117.23 |
| Profit Before Tax | 0.64 | 8.08 | 21.34 |
| Net Profit | 0.48 | 5.81 | 15.10 |
Fascinate Textiles
Fascinate Textiles IPO
₹2,36,800
0.05 xOver-subscribedBidding Dates 11 Aug, 26 -13 Aug, 26
Min Investment ₹2,36,800
Lot Size800
Price Range ₹148 – ₹156
Issue Size ₹66.98 Cr.
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IPO Subscription Details
Retail Subscription Details
0.06 x
Non-Institutional Buyers (sHNI)
0.01 x
Non-Institutional Buyers (bHNI)
0 x
Qualified Institutional Buyers (QIB)
1 x
Total0.05 x
0.05 x IPO Timeline
IPO Offer Start
11 Aug,26
IPO Offer Ends
13 Aug,26
Allotment Finalisation
14 Aug,26
Refund Initiation
17 Aug,26
Listing of Shares
18 Aug,26
IPO Analysis
Strengths
The company follows an integrated approach where most key operations are carried out in-house, with only knitting and dyeing outsourced. This setup allows control over quality and timelines, enabling smoother production flow and coordinated response to client requirements.
The company produces a wide range of garments including t-shirts, joggers, co-ords, kids wear, and casualwear using different fabrics and finishes. The production setup handles various designs, prints, embroidery, and custom trims, supporting both bulk and small-batch orders.
The company has implemented a structured, multi-stage quality control process managed by third-party partners, including raw material checks, in-line inspections, and final audits based on Acceptable Quality Limit (AQL) before dispatch.
Risks
The company derives a substantial portion of revenue from a limited number of key customers, with top ten customers contributing 72.99%, 93.22% and 99.35% of total sales for financial years ended March 31, 2026, 2025 and 2024 respectively. The loss of any significant customer could result in a decline in sales, disrupt cash flow, and hinder the company's ability to sustain operations effectively.
The company has incurred negative cash flows from operating activities of ₹(1,087.37) lakhs, ₹(357.52) lakhs and ₹(362.34) lakhs for financial years ended March 31, 2026, 2025 and 2024 respectively. This is primarily due to increases in trade receivables and inventories, which may adversely affect liquidity, financial condition and ability to fund growth plans.
The company's operations require significant working capital, with net working capital of ₹5,108.38 lakhs, ₹2,223.66 lakhs and ₹1,067.45 lakhs for financial years ended March 31, 2026, 2025 and 2024 respectively. The company's inability to meet working capital requirements may adversely affect results of operations and ability to satisfy client demand in a timely manner.
Objectives
The company proposes to utilize proceeds to fund incremental working capital requirements including trade receivables, inventories, and payment to trade payables for day-to-day operations. The funding will support revenue growth and achieve business plan targets.
The company intends to utilize proceeds for prepayment or scheduled repayment of certain unsecured loans to reduce existing borrowings, maintain favorable debt-equity ratio and enable utilization of internal accruals for business growth.
The company plans to establish additional manufacturing facility to expand production capacity, enhance competitive positioning, and support sustainable long-term growth including land acquisition, civil work, and plant & machinery.
The company will utilize proceeds for strategic initiatives, funding growth opportunities, strengthening marketing capabilities, brand building exercises, and meeting ongoing corporate contingencies as approved by the Board.
The company will utilize proceeds to meet offer-related expenses including management fees, underwriting commissions, printing expenses, legal fees, advertisement expenses, registrar's fees, and listing fees.
Yearly Financial Results
Balance Sheet
| Balance Sheet | Mar 2024 | Mar 2025 | Mar 2026 |
| Total Assets | 25.45 | 42.26 | 92.75 |
| Current Assets | 19.58 | 36.54 | 87.14 |
| Fixed Assets | 5.87 | 5.72 | 5.61 |
| Total Equity & Liabilities | 25.45 | 42.26 | 92.75 |
| Total Liabilities | 21.00 | 31.81 | 61.31 |
| Current Liabilities | 17.18 | 26.50 | 55.24 |
| Non Current Liabilities | 3.82 | 5.31 | 6.07 |
| Total Equity | 4.45 | 10.45 | 31.44 |
Cash Flow
| Cash Flow | Mar 2024 | Mar 2025 | Mar 2026 |
| Net Cash Flow | -0.08 | 0.48 | 0.09 |
| Investing Activities | -2.67 | -0.37 | -0.46 |
| Operating Activities | -3.62 | -3.58 | -10.87 |
| Financing Activities | 6.22 | 4.43 | 11.42 |
About Fascinate Textiles
Fascinate Textiles Limited is a West Bengal-based garment manufacturer specializing in readymade garments across menswear, womenswear, and childrenswear, with a significant focus on children's apparel. The company operates an integrated manufacturing facility in Barasat, conducting most operations in-house including cutting, printing, stitching, and finishing, while outsourcing knitting and dyeing through...more
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Managing DirectorVishal Nahar
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