IPO Overview
Complete Sports and Management India Limited, founded in 2002, operates in the amusement and leisure equipment business. The firm sources, trades, distributes, installs, and maintains amusement and leisure equipment along with related consulting services. Its product portfolio includes bowling solutions, arcade games, soft play systems and trampoline parks, laser tag, and other amusement and entertainment equipment. The company is also an authorised distributor of Brunswick Bowling products across India and Singapore, and has recently pursued forward integration through its own company-operated entertainment formats — “All Sett Go” and “Duckpin – The Bowling Bistro.”
The company is now launching its SME IPO on the BSE SME platform. The issue size is approximately ₹74.93 crore, comprising entirely of a fresh issue with no offer-for-sale component. The price band is set at ₹128 to ₹135 per share. The IPO opens on 28 August 2026 and closes on 1 September 2026, with listing expected on 4 September 2026 on BSE SME.
IPO Detailed Information
Issue Details
| Parameter | Details |
| IPO Type | Book Built – SME |
| Listing Exchange | BSE SME |
| Anchor Investor Date | 27 August 2026 |
| IPO Open Date | 28 August 2026 |
| IPO Close Date | 01 September 2026 |
| Allotment Date | 02 September 2026 (Expected) |
| Refund Initiation | 03 September 2026 |
| Credit to Demat | 03 September 2026 |
| Listing Date | 04 September 2026 (Tentative) |
| Price Band | ₹128 – ₹135 per share |
| Face Value | ₹10 per share |
| Lot Size | 1,000 shares |
| Minimum Investment (Retail) | ₹2,70,000 (2 lots = 2,000 shares) |
| Minimum Investment (S-HNI) | ₹4,05,000 (3 lots = 3,000 shares) |
| Minimum Investment (B-HNI) | ₹10,80,000 (8 lots = 8,000 shares) |
| Issue Size | ₹74.93 crore |
| Fresh Issue | ₹74.93 crore (entire issue) |
| Offer For Sale (OFS) | Nil |
Note: The entire IPO is a fresh issue — no offer-for-sale component. All IPO proceeds will flow directly into the company.
Issue Break-up
| Category | Shares Offered | % Allocation |
| Anchor Investors | 15,79,000 shares | ~28.45% |
| QIB (excl. Anchor) | 10,53,000 shares | ~18.97% |
| Non-Institutional Investors (NII/HNI) | 7,92,000 shares | ~14.27% |
| Retail Individual Investors (RII) | 18,46,000 shares | ~33.26% |
| Market Maker | Reserved Portion | — |
OFS / Selling Shareholders
There is no Offer For Sale (OFS) in this IPO. The entire issue is a fresh issue — no promoter or existing shareholder is selling their stake. All proceeds will go directly to the company for business use.
Objects of the Issue (Fund Utilization)
| Purpose | Amount (₹ Crore) |
| Purchase of gaming equipment & other capital equipment for Bhiwandi warehouse | ₹39.88 |
| Setting up “Duckpin – The Bowling Bistro” entertainment centre in Mumbai | ₹8.09 |
| Repayment / prepayment of outstanding borrowings | ₹11.50 |
| General Corporate Purposes | Balance |
Lead Managers & Registrar
- Book Running Lead Manager: Smart Horizon Capital Advisors Pvt. Ltd.
- Registrar to the Issue: Bigshare Services Pvt. Ltd.
- Email: [email protected]
- Website: https://ipo.bigshareonline.com/IPO_Status.html
- Market Maker: Shreni Shares Ltd.
Promoters & Management
The promoters of the company are Mr. Rohit Rajesh Mathur, Mrs. Abha Rohit Mathur, and Mr. Rohan Rohit Mathur. Pre-IPO, the promoter and promoter group held 1,45,29,680 shares — representing 96.8% of pre-issue paid-up capital.
The promoter family brings over two decades of hands-on experience in the amusement, leisure, and entertainment equipment industry in India and Southeast Asia.
Company Details
Complete Sports and Management India has a strong presence in India and Singapore, allowing it to serve both domestic and international markets. From planning and consulting, equipment sourcing, installation, commissioning, operation support, and maintenance — the firm helps customers throughout the entire process of developing and running amusement or entertainment destinations.
Sectors / Clients Served:
- Family Entertainment Centres (FECs)
- Hotels, Resorts & Clubs
- Shopping Malls & Corporate Venues
- Residential Developments & Theme Parks
- Bowling Alleys & Gaming Zones
Key Products & Solutions:
- Bowling Solutions (Ten-pin, Duckpin)
- Arcade & Redemption Games
- Soft Play Systems & Trampoline Parks
- Laser Tag, Bumper Cars, Go-Karting
- Cashless Gaming Solutions, Spares & Accessories
Key Capabilities:
- More than two decades of experience in amusement and leisure solutions, exclusive distributorship for Brunswick bowling products in India, and end-to-end capabilities covering equipment, installation, and maintenance.
- Authorised distributor of Brunswick Bowling products — a globally recognised brand — across India and Singapore
Own Brands (Forward Integration):
- Duckpin – The Bowling Bistro — Company-operated bowling and dining concept
- All Sett Go — Company-operated family entertainment format
Registered Office: B-223–226, 2nd Floor, Chintamani Plaza, Andheri (East), Mumbai – 400099, Maharashtra
Total Employees (as of 31 July 2026): 136
Financial Snapshot
| Period | Revenue (₹ Cr) | Expenses (₹ Cr) | PAT (₹ Cr) | Total Assets (₹ Cr) |
| FY25 | ₹111.42 | ₹95.79 | ₹11.41 | ₹69.78 |
| FY26 | ₹118.76 | ₹94.32 | ₹18.18 | ₹83.26 |
Key Financial Metrics
- At the upper price of ₹135, post-issue market capitalisation stands at approximately ₹277.56 crore. Based on post-issue EPS of ₹8.84, the P/E ratio works out to approximately 15.27x — appearing reasonable given the company’s profitability and return ratios.
- Revenue grew 7% YoY in FY26; PAT jumped 59% YoY — reflecting strong operating leverage
Company Strengths
- Over two decades of operating history in the amusement and leisure equipment space, with deep expertise across the full value chain — from sourcing and distribution to installation, maintenance, and operations management.
- Exclusive distributorship for Brunswick Bowling products in India — a globally recognised brand providing a meaningful competitive moat and preferred supplier status.
- End-to-end project execution capability — from concept design, equipment procurement, and logistics to installation, staff training, handover, and after-sales support
- Strong return ratios with ROE of 53.55% and ROCE of 47.97%, with borrowings of only ₹8.99 crore and a comfortable debt-equity ratio of 0.21.
- Forward integration into owned entertainment centre brands (Duckpin – The Bowling Bistro, All Sett Go) — creating potential for recurring revenue beyond one-time equipment sales
- Growing demand for organised family entertainment centres across India’s expanding urban and Tier 2 city markets
Key Risks & Challenges
- Revenue growth was limited to just 7% in FY26 despite a 59% jump in PAT — raising questions about top-line scalability and whether the profitability improvement can be sustained as the equity base expands post-IPO.
- Forward integration into owned entertainment centres exposes the company to consumer-footfall risk, location-selection challenges, and higher operational complexity — beyond its traditional distribution model.
- Heavy dependence on discretionary consumer spending — any economic slowdown or reduction in entertainment-centre footfall directly impacts revenue
- Imported equipment exposure creates currency fluctuation and global supply-chain risks that could affect margins and project timelines.
- SME IPO liquidity risk — limited secondary market trading volumes on BSE SME platform with a high minimum investment of ₹2.70 lakh
- Concentration risk in distribution — sole authorised distributor model for Brunswick means any change in the exclusive agreement could materially impact the business
Disclaimer:
This document is for informational purposes only and should not be considered as investment advice. Investors should read the Red Herring Prospectus (RHP) carefully and consult a financial advisor before investing in any IPO. Market investments are subject to risk.
