Complete Sports & Management India IPO: Check Price Band, Timeline & Key Details
- Complete Sports & Management India files DRHP; IPO opens on 28-Aug-2026.
- FY2026 PAT grew 59.33% YoY to ₹18.18 Cr; Revenue grew 6.11% to ₹117.09 Cr.
- Proceeds earmarked for ₹39.88 Cr capex, ₹8.09 Cr for new entertainment centre, and ₹11.50 Cr debt repayment.
- Key risks include 80.53% customer concentration and negative operating cash flow of ₹382.09 Lakhs in FY2026.
- Exclusive distributor of Brunswick Bowling Products in India, Singapore, Malaysia, and Indonesia.
*this image is generated using AI for illustrative purposes only.
Complete Sports & Management India Limited (CSML) has filed its Draft Red Herring Prospectus (DRHP) with SEBI for an initial public offering. The Mumbai-based amusement and leisure equipment distributor plans to open its book on August 28, 2026, aiming to raise funds for capital expenditure and debt repayment.
Company Overview
Complete Sports and Management India Limited, incorporated in 2002 and headquartered in Andheri (East), Mumbai, is an integrated player in the amusement, entertainment, and leisure equipment sector. The company engages in sourcing, trading, distribution, installation, commissioning, maintenance, and advisory services across the value chain. CSML holds the prestigious position of being the authorized distributor of Brunswick Bowling Products LLC in India, Singapore, Malaysia, and Indonesia since January 1, 2010. The promoter team, led by Managing Director Rohit Rajesh Mathur and CEO Abha Rohit Mathur, brings over 40 years of combined industry experience.
Offer Details
The IPO is scheduled to open on 28-Aug-2026 and close on 01-Sep-2026. Allotment is expected on 02-Sep-2026, with listing on 04-Sep-2026. While the price band and total issue size are not yet available, the fresh issue component proceeds are earmarked for specific corporate purposes:
| Purpose | Amount (₹ Cr) |
|---|---|
| Capex for Bhiwandi warehouse assembly operations | 39.88 |
| Setting up 'Duckpin – The Bowling Bistro' centre | 8.09 |
| Repayment of outstanding borrowings | 11.50 |
| General Corporate Purposes | Balance Net Proceeds |
Financial Highlights
CSML demonstrated significant profitability improvement in FY2026. Revenue from operations grew by 6.11% YoY, while Net Profit (PAT) surged by 59.33% YoY. Total equity increased substantially from ₹24.58 Cr in FY2025 to ₹42.72 Cr in FY2026.
| Metric | FY2026 (₹ Cr) | FY2025 (₹ Cr) |
|---|---|---|
| Revenue from Operations | 117.09 | 110.35 |
| Total Revenue | 118.76 | 111.42 |
| Profit Before Tax (PBT) | 24.44 | 15.62 |
| Total Profit (PAT) | 18.18 | 11.41 |
| Total Equity | 42.72 | 24.58 |
Risk Factors
Investors should note several material risks highlighted in the DRHP:
- High Customer Concentration: Top 10 customers contributed 80.53% of revenue in FY2026.
- Brunswick Dependency: Revenues from Brunswick Bowling Products accounted for 50.21% of revenue from operations in FY2026.
- Negative Operating Cash Flow: The company reported negative cash flows from operating activities of ₹382.09 Lakhs in FY2026 and ₹332.77 Lakhs in FY2025.
- Geographic Concentration: Maharashtra, Karnataka, and Telangana collectively contributed 78.57% of total revenue in FY2026.
Valuation & Peer Comparison
Peer comparison data and valuation multiples such as P/E ratio are not available as the price band has not been announced. Direct listed peers with comparable business models in the Indian public markets are limited. Investors will need to wait for the final RHP or pricing announcement to assess valuation relative to industry benchmarks.
Bottom Line
Complete Sports & Management India presents a case of strong profitability growth and exclusive brand distribution rights, offset by concerns over negative operating cash flows and high customer concentration. With the IPO opening on August 28, 2026, investors should monitor the final price band and subscription levels before making investment decisions.
How might the planned expansion into 'Duckpin – The Bowling Bistro' diversify CSML's revenue streams beyond traditional equipment distribution?
What strategies does CSML plan to implement to mitigate the risk of negative operating cash flows post-IPO?
Could the high dependency on Brunswick Bowling Products expose CSML to significant supply chain or contractual risks if that partnership changes?
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