NewsComplete Sports & Management IPO Day 2 Live: Retail jumps 275% - Check analysts view and moreComplete Sports & Management IPO Day 2 Live: Retail jumps 275% - Check analysts view and more
- Complete Sports & Management IPO subscription stands at 0.19x on Day 2.
- Retail bids jumped 275% to 0.15x, while NII (bHNI) rose 250% to 0.07x.
- QIB subscription remains flat at 0.00x, indicating lack of institutional interest.
- The issue price band is ₹128.00 - ₹135.00 per share.
- Listing is scheduled for 2026-09-04 on BSE and NSE.
*this image is generated using AI for illustrative purposes only.
Complete Sports & Management IPO subscription ticks up to 0.19x on Day 2, led by sharp gains in Retail and NII categories, though overall interest remains muted.
Subscription Status
The issue saw fresh bids on Day 2, with the cumulative subscription rising from 0.13x to 0.19x. Non-Institutional Buyers (bHNI) and Retail investors drove the momentum, jumping +250.0% and +275.0% respectively from the day's open. However, Qualified Institutional Buyers (QIBs) remained inactive at 0.00x, keeping the overall subscription low.
| Category | Day 1 | Day 2 | Total |
|---|---|---|---|
| QIB | 0.00x | 0.00x | 0.00x |
| NII (bHNI) | 0.02x | 0.07x | 0.07x |
| NII (sHNI) | 0.77x | 0.77x | 0.77x |
| Retail | 0.04x | 0.15x | 0.15x |
| Total | 0.13x | 0.19x | 0.19x |
Intra-day timeline on 31-08-2026
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 11:15 | 0.00x | 0.02x | 0.04x | 0.13x |
| 12:15 | 0.00x | 0.07x | 0.15x | 0.19x |
Subscription progression
| Day | Date | QIB | NII (bHNI) | NII (sHNI) | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 | 28-08-2026 | 0.00x | 0.02x | 0.77x | 0.04x | 0.13x |
| Day 2 | 31-08-2026 | 0.00x | 0.07x | 0.77x | 0.15x | 0.19x |
About the Company
Complete Sports and Management India Limited (CSML), founded in 2002, is engaged in sourcing, trading, and distribution of diversified amusement and leisure equipment. Led by MD Rohit Rajesh Mathur and CEO Abha Rohit Mathur, the company is the authorized distributor of Brunswick Bowling products LLC in India, Singapore, Malaysia, and Indonesia. It serves family entertainment centres, clubs, hotels, and resorts.
Financial Highlights
CSML reported revenue from operations of ₹117.09 crores in FY26, up from ₹110.35 crores in FY25. Total profit rose to ₹18.18 crores in FY26 from ₹11.41 crores in FY25.
| Particulars | FY26 (₹ crores) | FY25 (₹ crores) |
|---|---|---|
| Revenue from Operations | 117.09 | 110.35 |
| Total Profit | 18.18 | 11.41 |
| Total Equity | 42.72 | 24.58 |
Objects of the Issue
- Funding capital expenditure for gaming equipment at Bhiwandi warehouse: ₹39.88 crores
- Setting up 'Duckpin – The Bowling Bistro' entertainment centre in Mumbai: ₹8.09 crores
- Repayment and/or prepayment of outstanding borrowings: ₹11.50 crores
- General Corporate Purposes: Balance net proceeds
Risk Factors
- High Customer Concentration Risk: Top ten customers contributed 80.53% of revenue in FY26.
- Supplier Concentration and International Dependency: Top ten suppliers accounted for 81.93% of total purchases in FY26.
- Dependence on Brunswick Bowling Products: Revenues from Brunswick equipment accounted for 50.21% of revenue in FY26.
Key Dates
- Close Date: 2026-09-01
- Allotment Date: 2026-09-02
- Listing Date: 2026-09-04
Will the complete lack of QIB participation signal a potential under-subscription or delisting risk for Complete Sports & Management?
How might the high customer and supplier concentration risks impact CSML's revenue stability post-listing if key partners like Brunswick alter terms?
Given the muted interest, will the company be forced to revise its issue price or size to attract institutional investors before the final day?
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