Fascinate Textiles IPO has opened today for subscription, marking the first day of public interest in the textile firm’s public offering. The issue is priced between ₹148 and ₹156 per share. As of the end of Day 1, the subscription status stands at 0x across all categories, including Qualified Institutional Buyers (QIB), Non-Institutional Investors (NII), and Retail investors.

Subscription Status

The initial response from investors on Day 1 has been recorded as follows:

About the Company

Fascinate Textiles operates in the textile sector. The company has filed its Initial Public Offering to raise capital through a fresh issue and/or offer for sale. Key financial highlights and operational details are outlined in the prospectus filed with SEBI.

Offer Details

• Price Band: ₹148.00000 – ₹156.00000
• Issue Size: Min ₹355200 – Max ₹500000
• Minimum Bid Quantity: 1600 shares
• IPO Stage: Day 1 Open

Investors are advised to review the DRHP and offer document for detailed risk factors and financial performance before applying.

Fascinate Textiles Limited, a West Bengal-based integrated readymade garment manufacturer, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The company, which specializes in menswear, womenswear, and childrenswear, is seeking to raise approximately ₹40.18 crore through a fresh issue. The IPO is scheduled to open on 11-Aug-2026 and close on 13-Aug-2026.

Company Overview

Fascinate Textiles operates from its manufacturing facility in Barasat, North 24 Parganas, West Bengal. Incorporated in 2017, the company holds ISO 9001:2015 certification and follows an order-driven B2B model, with 99.75% of its FY2026 revenue coming from business-to-business sales. Its product range includes T-shirts, joggers, co-ords, and kids wear. The company handles cutting, printing, stitching, and finishing in-house, while outsourcing knitting and dyeing. Key management includes Managing Director Vishal Nahar, who brings 17 years of industry experience.

Offer Details

The issue is structured as a fresh equity offering. While the price band and lot size are not yet disclosed, the use of proceeds is clearly defined:

The funds will primarily support incremental working capital needs and the establishment of an additional manufacturing facility to expand production capacity.

Financial Highlights

Fascinate Textiles has demonstrated aggressive scaling over the last three fiscal years. Revenue from operations grew from ₹28.88 Cr in FY2024 to ₹117.09 Cr in FY2026, a ~305% increase. Net profit (PAT) surged from ₹0.48 Cr to ₹15.10 Cr over the same period.

Despite profit growth, the company reported negative operating cash flows in all three years: ₹(3.62) Cr in FY2024, ₹(3.58) Cr in FY2025, and ₹(10.87) Cr in FY2026.

Risk Factors

Investors should note several material risks highlighted in the DRHP:

1. Customer Concentration: Top 10 customers contributed 72.99% of FY2026 revenue (down from 99.35% in FY2024).
2. Negative Operating Cash Flows: Persistent outflows driven by rising trade receivables and inventory build-up.
3. Trade Receivables Growth: Receivables grew by 224.67% in FY2025, outpacing revenue growth, indicating potential collection risks.
4. Single Facility Risk: All manufacturing is concentrated in one location in Barasat, West Bengal.

Valuation & Peer Comparison

As the price band is not yet available, valuation multiples such as P/E and P/B cannot be calculated. Investors will need to wait for the final prospectus to assess the offer's valuation against listed peers in the readymade garment sector.

Bottom Line

Fascinate Textiles presents a high-growth profile with significant revenue and profit expansion. However, the sustainability of margins and the improvement of operating cash flows are critical factors for investors to monitor. The IPO aims to fund capacity expansion and working capital, which could support further growth if execution remains strong.