NewsComplete Sports & Management IPO Day 3: Issue subscribed 0.48x so far. Check issue details and key datesComplete Sports & Management IPO Day 3: Issue subscribed 0.48x so far. Check issue details and key dates
- Complete Sports & Management IPO closed with an overall subscription of 0.48x.
- NII (bHNI) category was the highest subscribed at 1.47x.
- QIB and Retail subscriptions stood at 0.35x and 0.30x respectively.
- Allotment date is 2026-09-02 and listing date is 2026-09-04.
- Issue size ranges between ₹25.60 lakh and ₹50.00 lakh with a price band of ₹128.00 - ₹135.00.
*this image is generated using AI for illustrative purposes only.
Complete Sports & Management’s public issue has closed with an overall subscription of 0.48x, falling short of full subscription. Non-Institutional Buyers (bHNI) drove the interest, subscribing 1.47x, while QIBs and Retail categories remained below 1x.
Final Subscription Status
| 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 | 0.12x | 0.77x | 0.16x | 0.20x |
| Day 3 | 01-09-2026 | 0.35x | 0.22x | 1.47x | 0.30x | 0.48x |
Category-wise Breakdown
- QIB: 0.35x
- NII (bHNI): 1.47x
- NII (sHNI): 0.22x
- Retail: 0.30x
- Overall: 0.48x
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. The company provides installation, commissioning, maintenance, and advisory services across the amusement value chain. It is the authorized distributor of Brunswick Bowling products LLC in India, Singapore, Malaysia, and Indonesia. Promoters Rohit Rajesh Mathur (MD) and Abha Rohit Mathur (CEO) lead the management team.
Financial Highlights
| Particulars | FY 2025 (₹ crores) | FY 2026 (₹ crores) |
|---|---|---|
| Revenue from Operations | 110.35 | 117.09 |
| Total Profit (PAT) | 11.41 | 18.18 |
| Total Equity | 24.58 | 42.72 |
Revenue grew from ₹110.35 crores in FY 2025 to ₹117.09 crores in FY 2026. Profit after tax increased significantly to ₹18.18 crores from ₹11.41 crores.
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 Fiscal 2026.
- Dependence on Brunswick Bowling Products: Revenues from Brunswick equipment accounted for 50.21% of revenue in Fiscal 2026.
- Negative Cash Flow from Operations: Company reported negative cash flows from operating activities of ₹382.09 lakhs in Fiscal 2026.
What's Next
Allotment date is scheduled for 2026-09-02. The shares are expected to list on 2026-09-04. Basis of allotment will be determined by the registrar based on subscription levels.
How might the under-subscription by QIBs and Retail investors impact the listing price premium and initial trading volume on September 4?
Given the high customer concentration (80.53% from top 10 clients), what strategies will CSML employ to diversify its revenue base post-IPO to mitigate future earnings volatility?
Will the company's negative operating cash flow in FY 2026 be addressed through the proposed capital expenditure, or does it signal deeper working capital management issues?
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