Complete Sports and Management IPO
ListedSMEEntertainment
3.45×
Subscribed
Price band
₹135 – ₹135
Lot size
1,000
1 lot = ₹1,35,000
Issue size
₹74.93 Cr
Open – close
28 Aug 2026
to 01 Sept 2026
Listing
04 Sept 2026
Listing gain
+2.96%
What the filing actually says
Our read of the offer document and the exchange data — not the issuer's summary of itself
Strong4 of 7 dimensions read
The disclosed numbers are strong — 3 of 4 signals read positive
Strength83/100
- Undemanding valuation11.3× earnings at the upper band, with no peer set published to compare against
- High return on equityROE of 42.3%
- Conservative balance sheetDebt/equity of 0.08×
- Institutional book coveredQIB portion subscribed 7.34×
Every line above is arithmetic on a figure shown elsewhere on this page - no model, no opinion. It describes the quality of the offering as disclosed, and is pulled toward neutral to reflect how much the document leaves unsaid. It is not a prediction of the listing price, and it is not advice to apply.
Dates
The issuer's tentative timetable — a date passing is not confirmation the step completed
- Opens28 Aug 2026
- Closes01 Sept 2026
- Allotment02 Sept 2026
- Listing04 Sept 2026
Demand and your odds
How the book filled, and what that means for an application
Subscription by category
Qualified institutionalQIB7.34x
Non-institutionalNII / HNI2.66x
Big NIIabove ₹10L2.94x
Small NII₹2L – ₹10L2.09x
Retail individualRII1.57x
1,798 applications received — how many people bid, as opposed to how much money did. Exchange figures as of 01 Sept 2026.
Chance of allotment
Retail1.57× subscribed
~1 in 1.6
Minimum 2 lots · 2,000 shares · ₹2,70,000 blocked
Retail is 1.57× subscribed. Allotment is a lottery on a single lot, so roughly 1 in 1.6 applications gets one lot. Bidding for extra lots does not improve these odds.
HNI / NII2.66× subscribed
~1 in 2.7
Minimum 1 lot · 1,000 shares · ₹1,35,000 blocked
HNI is 2.66× subscribed. This category is allotted proportionately, so a bid receives roughly 1/2.7 of the shares applied for, subject to the minimum-lot draw.
Derived from SEBI's allotment mechanics and the subscription figures beside it. Retail allotment is a lottery on a single lot, so applying for more lots does not improve your chance of getting something.
The offering
Terms, structure and who is selling
Terms
Price band₹135 – ₹135
Face value₹10
Lot size1,000shares
Minimum application₹1,35,000at cut-off
Total issue size₹74.93 Cr
Listing atSME platform
Anchor investorsAllotted
Company & valuation
P/E at upper band11.29×
EPS₹9.64pre-issue
EPS₹11.96post-issue
NAV per share₹28.29
Return on equity42.27%
Debt / equity0.08×
ROCE47.97%
RoNW42.27%
PAT Margin15.81%
EBITDA Margin13.39%
NAV28.29
Price to Book Value4.77
ISININE2K6801014
RegistrarBigshare Services Pvt Ltd
Who gets what
How the issue is split between investor categories, and what each may bid.
| Category | Shares | % of issue |
|---|---|---|
| QIB | 26,32,000 | 47.42% |
| Anchor Investor | 15,79,000 | 28.45% |
| QIB (Ex. Anchor) | 10,53,000 | 18.97% |
| NII (HNI) | 7,92,000 | 14.27% |
| bNII > ₹10L | 5,28,000 | 9.51% |
| sNII < ₹10L | 2,64,000 | 4.76% |
| Retail | 18,46,000 | 33.26% |
| Market Maker | 2,80,000 | 5.05% |
Total issue 55,50,000 shares. Indented rows sit inside the category above them and are not added to it.
What each category may bid
Individual investors (IND) (Min)₹2,70,0002 lots · 2,000 sh
Individual investors (IND) (Max)₹2,70,0002 lots · 2,000 sh
S-HNI (Min)₹4,05,0003 lots · 3,000 sh
S-HNI (Max)₹9,45,0007 lots · 7,000 sh
B-HNI (Min)₹10,80,0008 lots · 8,000 sh
Lot size alone does not answer "how much do I need" — an S-HNI minimum is several lots, not one.
Anchor book
Shares allotted15,79,000
Anchor portion₹21.32 Cr
Bid date27 Aug 2026
Lock-in ends (50%)01 Oct 2026
Lock-in ends (rest)30 Nov 2026
Anchors are institutional money placed a day before bidding opens, against a lock-in. Those two dates are when that stock can first be sold — a supply event worth knowing if you still hold.
What the money is for
Stated use of the net proceeds
- 01Funding the capital expenditure requirements of our Company towards the purchase of gaming equipment and other capital equipment, including computers, printers and software, equipment and tools, and CCTV and safety equipment, for its existing warehouse located at Bhiwandi, Maharashtra.not stated
- 02Funding the capital expenditure requirements of our Company towards the setting up of the ‘Duckpin – The Bowling Bistro’ entertainment centre in Mumbai, Maharashtra;not stated
- 03Repayment and/or prepayment, in full or in part, of certain outstanding borrowings availed by our Company from banks and financial institutions;not stated
- 04General corporate purposes.not stated
Objects with no stated amount — typically general corporate purposes — are funded from whatever remains, so the quantified figures do not sum to the whole issue.
Financials
Restated figures as reported in the offer document, ₹ crore
| Period | Revenue | EBITDA | PAT | Net worth | Debt |
|---|---|---|---|---|---|
| 2025-26 | 5,482.58 | — | — | — | — |
Risks worth reading
Ranked by our severity assessment, not by the order the prospectus prints them
Criminal proceedings disclosedmedium
Except as stated below, there are no outstanding (i) criminal proceedings; (ii) actions by regulatory authorities; (iii) claims related to direct or indirect taxes; or (iv) other pending litigations determined to be material. However, the text states that there are outstanding criminal proceedings a
mediumThe Company derived 80.53%, 65.55% and 80.45% of its revenue from its top ten customers for the Fiscals 2026, 2025 and 2024, respectively. The loss of any of these customers or reduction in business from them will have a material adverse effect on the business, financial condition, results of operat
mediumThe Company's revenues are substantially dependent on demand for its amusement and entertainment solutions portfolio and related services. Any decline in demand for such offerings, changes in customer preferences, or adverse developments in the entertainment and leisure industry could materially and
Litigation
Except as stated below, there are no outstanding (i) criminal proceedings; (ii) actions by regulatory authorities; (iii) claims related to direct or indirect taxes; or (iv) other pending litigations determined to be material. However, the text states that there are outstanding criminal proceedings and actions by regulatory authorities against Key Managerial Personnel and Senior Management.
Positives the filing discloses (2)
Low leverage
Debt-to-equity of 0.08x.
Healthy return on equity
ROE of 42.3%.
What happened to comparable issues
The last 8 issues to list with a recorded opening price, most comparable first
Median listing gain
-2.2%
Listed up
1 of 8
Best
+0.4%
Papadmalji Agro Foods Limited
Worst
-17.5%
Himalayan Solar
Ravita Engineering Services Limitedsame segment
6.7× sub+0.0%
Vaibhav Vyapaar Limitedsame segment
3.1× sub-2.0%
R.K. Fashion Accessories Limitedsame segment
2.6× sub-2.4%
Eventions Limitedsame segment
2.3× sub-5.9%
Green Asia Impexsame segment
1.0× sub+0.0%
Papadmalji Agro Foods Limitedsame segment
2.5× sub+0.4%
Dudani Retailsame segment
1.4× sub-13.8%
Himalayan Solarsame segment
1.2× sub-17.5%
Past issues are context, not a forecast — this issue is a different company at a different price. We show it because "how have issues like this one actually opened" is a question with a real answer, and grey-market premium is not that answer.
About Complete Sports and Management
Complete Sports and Management India Limited (CSML) is engaged in the sourcing, trading and distribution of amusement and leisure equipment, along with installation, commissioning, maintenance, advisory, and consulting services. Its product portfolio includes bowling solutions, arcade games, soft play areas, trampoline parks, laser tag systems, bumper cars, go-karting systems, cashless gaming systems, spares, and accessories. The company is an authorised distributor of Brunswick Bowling Products LLC in India, Singapore, Malaysia, and Indonesia and also has relationships with other international amusement equipment manufacturers. Its customers include family entertainment centres, clubs, hotels, resorts, corporate clients, and residential developments. CSML operates in India and Singapore and has a wholly owned subsidiary in Singapore. Use of proceeds: This is a fresh issue of shares. Therefore, the net proceeds from the fresh issue will go to the company. They will be utilised for the following purposes: Funding the capital expenditure requirements of the company towards the purchase of gaming equipment and other capital equipment, including computers, printers and software, equipment and tools, and CCTV and safety equipment, for its existing warehouse located at Bhiwandi, Maharashtra – Rs 39.88 crore Repayment and/or pre-payment, in full or part, of certain borrowings availed by the company from banks and financial institutions – Rs 11.50 crore Funding the capital expenditure requirements for setting up of the ‘Duckpin – The Bowling Bistro’ entertainment centre in Mumbai – Rs 8.09 crore General corporate purposes
Founded 2002MD Mr Rohit Rajesh MathurSector Entertainment
Offer documents
The primary sources everything above is drawn from
Common questions
How many times is the Complete Sports and Management IPO subscribed?
Complete Sports and Management is subscribed 3.45× overall (QIB 7.34×, NII 2.66×, retail 1.57×). Subscription keeps changing until the issue closes; the final basis of allotment is published by the registrar, Bigshare Services Pvt Ltd.
What is the minimum investment in the Complete Sports and Management IPO?
One lot is 1,000 shares, so a retail application at the ₹135 cut-off price blocks ₹1,35,000. Retail applications are capped at ₹2,00,000; above that you bid in the HNI category, where allotment is proportionate rather than by lottery.
What are the chances of allotment in the Complete Sports and Management IPO?
The retail portion is subscribed 1.57×, so allotment is by lottery and the odds of receiving at least one lot are roughly 1 in 2. Applying for more lots does not improve the chance of getting something — every retail applicant competes for the same single minimum lot.
When is the Complete Sports and Management IPO allotment date?
Allotment is scheduled for 2026-09-02, with listing on 2026-09-04. These dates are the issuer's tentative timetable — a date passing is not confirmation that the step completed. Allotment status is published by the registrar, Bigshare Services Pvt Ltd.
Disclaimer. Figures are compiled from the issuer's offer document and exchange-published bidding data. Subscription changes until the issue closes, and the final basis of allotment is published by the registrar. Grey-market premium is unofficial and is not a forecast. Nothing here is investment advice or a recommendation — read the offer document and consult a SEBI-registered adviser before applying.