Fascinate Textiles IPO
Fascinate Textiles IPO was a book-built SME issue of ₹64.83 crore, comprising a Fresh Issue of ₹52.21 crore and an Offer for Sale of ₹12.62 crore. The price band was ₹142 to ₹151 per share, with a lot size of 800 shares and a minimum application of 1,600
Fascinate Textiles IPO Details
Fascinate Textiles IPO opened for subscription on August 11, 2026 and closed on August 19, 2026. The basis of allotment was finalized on August 20, refunds and share credits were initiated on August 21, and the shares were listed on the NSE SME platform on August 24, 2026. The final issue price was ₹151 per share and the shares listed at ₹120.80 per share.
Fascinate Textiles IPO GMP
The reported grey-market premium for Fascinate Textiles IPO was ₹0 during the tracked pre-listing period. Based on the upper issue price of ₹151, a GMP of ₹0 indicated an unofficial estimated price of ₹151. GMP is unofficial and unregulated and should not be considered a guaranteed indication of the actual listing price.
Fascinate Textiles IPO Timeline (Tentative)
Fascinate Textiles IPO opened on August 11, 2026 and closed on August 19, 2026. The basis of allotment was finalized on August 20, followed by refund initiation and Demat credit on August 21. The shares were listed on the NSE SME platform on August 24, 2026.
| Event | Tentative Date |
|---|---|
| IPO Open Date | Tue, Aug 11, 2026 |
| IPO Close Date | Wed, Aug 19, 2026 |
| Basis of Allotment | Thu, Aug 20, 2026 |
| Initiation of Refunds | Fri, Aug 21, 2026 |
| Credit of Shares to Demat | Fri, Aug 21, 2026 |
| Listing Date | Mon, Aug 24, 2026 |
| IPO Opens | August 11, 2026 |
| IPO Closes | August 19, 2026 |
| Basis of Allotment | August 20, 2026 |
| Refund Initiation | August 21, 2026 |
| Credit of Shares to Demat | August 21, 2026 |
| Listing Date | August 24, 2026 |
Fascinate Textiles IPO Lot Size
The Fascinate Textiles IPO lot size was 800 shares, while the minimum application was 1,600 shares, or 2 lots. At the upper price band of ₹151, the minimum application amount was ₹2,41,600. Small HNI investors could apply for a minimum of 3 lots, or 2,400 shares.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 1,600 | 2,41,600 |
| Retail (Max) | 2 | 1,600 | 2,41,600 |
| S-HNI (Min) | 3 | 2,400 | 3,62,400 |
| S-HNI (Max) | 8 | 6,400 | 9,66,400 |
| B-HNI (Min) | 9 | 7,200 | 10,87,200 |
Fascinate Textiles IPO Reservation
The issue included a market maker reservation portion of 2,15,200 shares. The net offer consisted of shares allocated among Qualified Institutional Buyers, Non-Institutional Investors and Retail Individual Investors. The reported allocation was approximately 1.01% for QIBs, 37.64% for NIIs and 56.34% for retail investors.
Fascinate Textiles IPO Subscription
Fascinate Textiles IPO received total subscription of approximately 1.53 times by the close of bidding. QIBs subscribed approximately 22.74 times, NIIs 1.06 times and Retail Individual Investors 1.37 times.
| Category | Subscription (times) |
|---|---|
| QIB | 22.74x |
| NII | 1.06x |
| RII | 1.37x |
| Total | 1.53x |
About Fascinate Textiles
Fascinate Textiles Limited is a West Bengal-based manufacturer of readymade garments. The company was originally incorporated as Fascinate Textiles Private Limited on February 9, 2017, and was subsequently converted into a public limited company in 2025.
The company manufactures garments for men, women and children, with a significant focus on childrenswear. Its product portfolio includes garments such as T-shirts, joggers, vests, leggings, shorts and infant wear.
Fascinate Textiles operates from West Bengal and serves customers across different regions of India. Its manufacturing activities cover the production of readymade garments and related textile products, with the business supported by manufacturing capabilities and customer relationships.
The company has recorded strong growth in revenue over the three-year period ended March 31, 2026. Revenue from operations increased from ₹28.88 crore in FY2024 to ₹60.25 crore in FY2025 and ₹117.09 crore in FY2026. PAT increased from ₹0.48 crore to ₹5.81 crore and then ₹15.10 crore over the same period.
Strengths
- Experience in manufacturing readymade garments.
- Product portfolio covering men's, women's and children's garments.
- Significant focus on childrenswear and infant garments.
- Strong revenue growth during FY2024 to FY2026.
- Improvement in profitability over the reported financial periods.
- Manufacturing capabilities in West Bengal.
- Presence across multiple garment categories.
- Ability to manufacture products for different customer requirements.
- Strong FY2026 operating margins.
- Improvement in return ratios and reduction in debt-equity compared with earlier years.
Risks to Consider
- The company is substantially dependent on certain key customers for a significant portion of its revenue.
- The top customers contribute a material share of sales, creating customer concentration risk.
- The cost of production is exposed to fluctuations in the prices of fabrics and other raw materials.
- A significant portion of revenue is generated from the Eastern and Southern regions of India.
- Limited geographical diversification may expose the company to regional demand conditions.
- Manufacturing operations are concentrated in a single facility in Barasat, West Bengal.
- Production may be affected by machinery breakdowns, damage or technological obsolescence.
- The business is both manpower-intensive and machine-intensive.
- The company has substantial working-capital requirements.
- Changes in consumer preferences can affect demand for its products.
- The readymade garment industry is highly competitive.
- Dependence on promoters and key management personnel creates management continuity risk.
- Expansion of manufacturing capacity involves execution and capital expenditure risks.
Fascinate Textiles Financials (₹ Cr)
Fascinate Textiles recorded strong growth in revenue and profitability during FY2024 to FY2026. Revenue from operations increased from ₹28.88 crore in FY2024 to ₹117.09 crore in FY2026, while PAT increased from ₹0.48 crore to ₹15.10 crore. Total assets increased to ₹92.75 crore and net worth reached ₹31.44 crore in FY2026.
| Period | Revenue | PAT | Total Assets | Net Worth |
|---|---|---|---|---|
| FY2024 | 28.88 | 0.48 | 25.45 | 4.45 |
| FY2025 | 60.25 | 5.81 | 42.26 | 10.45 |
| FY2026 | 117.09 | 15.10 | 92.75 | 31.44 |
KPIs & Valuation
At the upper issue price of ₹151, Fascinate Textiles reported FY2026 EPS of ₹14.66 and post-issue EPS of approximately ₹10.95. The corresponding P/E ratios were approximately 10.30x and 13.79x. FY2026 RoNW was 48.02%, ROCE was 54.82%, ROE was 72.08% and NAV was ₹30.52 per share.
Objects of the Issue
The company proposed to use the Net Proceeds from the Fresh Issue primarily for funding working-capital requirements, setting up an additional manufacturing facility and prepayment or repayment of certain secured and unsecured borrowings. The remaining proceeds were proposed for general corporate purposes and offer-related expenses.
- The company proposed to utilise the IPO proceeds for:
- Funding capital expenditure requirements towards setting up an additional manufacturing facility – approximately ₹12.40 crore.
- Funding working-capital requirements – approximately ₹19.03 crore.
- Prepayment and repayment of certain secured and unsecured loans – approximately ₹2.68 crore.
- General corporate purposes.
- Meeting offer-related expenses.
Promoters, Lead Managers & Registrar
Fascinate Textiles Limited is promoted by Vishal Nahar, Chirag Ahuja, Rishabh Nahar, Narinder Kumar Ahuja and Vishal Nahar HUF. Affinity Global Capital Market Private Limited acted as the Book Running Lead Manager, while Cameo Corporate Services Limited acted as the Registrar to the Issue. Giriraj Stock Broking Private Limited acted as the market maker.
Promoters
Lead Managers (BRLM)
Registrar
| Name | Cameo Corporate Services Limited |
|---|---|
| Phone | +91 44 2846 0390 / 2846 0391 / 2846 0392 |
| investor@cameoindia.com | |
| Website | https://www.cameoindia.com/ |
Fascinate Textiles IPO Review
Fascinate Textiles reported revenue from operations of ₹28.88 crore in FY2024, ₹60.25 crore in FY2025 and ₹117.09 crore in FY2026. PAT increased from ₹0.48 crore in FY2024 to ₹5.81 crore in FY2025 and ₹15.10 crore in FY2026.
The company's EBITDA increased from ₹1.68 crore in FY2024 to ₹10.01 crore in FY2025 and ₹24.15 crore in FY2026. Net worth increased from ₹4.45 crore in FY2024 to ₹10.45 crore in FY2025 and ₹31.44 crore in FY2026.
The company has demonstrated substantial growth in its garment manufacturing business, with revenue more than doubling between FY2025 and FY2026. Profitability also improved significantly, supported by higher operating scale and improved margins.
Fascinate Textiles has exposure to men's, women's, children's and infant garments, while childrenswear forms an important part of its product mix. This provides exposure to multiple apparel segments, although the company remains subject to changes in consumer demand and fashion preferences.
The company plans to use a significant portion of the fresh issue proceeds for working capital. This is relevant because garment manufacturing requires funding for inventories, receivables and day-to-day operating requirements. The proposed additional manufacturing facility is intended to support future production capacity.
At the upper issue price of ₹151, FY2026 EPS was approximately ₹14.66. On the post-issue share base, EPS was approximately ₹10.95, resulting in an estimated pre-IPO P/E of about 10.30x and post-IPO P/E of about 13.79x.
For FY2026, Fascinate Textiles reported RoNW of 48.02%, ROCE of 54.82%, ROE of 72.08%, EBITDA margin of 20.50%, PAT margin of 12.89% and debt-to-equity of 0.83x. NAV was approximately ₹30.52 per share.
Investors should also consider customer concentration, raw-material price fluctuations, working-capital requirements, geographical concentration and dependence on the company's manufacturing facility while evaluating the IPO.
How to Apply
Fascinate Textiles IPO applications could be made through the applicable ASBA and UPI-supported IPO application process. The minimum application was 1,600 shares, or 2 lots, requiring ₹2,41,600 at the upper price band of ₹151.
Through UPI
- Log in to your stockbroker app or website.
- Go to the IPO section.
- Select Fascinate Textiles IPO.
- Enter the required number of lots.
- Select the applicable bid price or Cut-off option where permitted.
- Enter your valid UPI ID.
- Submit the IPO application.
- Open your UPI application after receiving the mandate request.
- Approve the mandate using your UPI PIN.
- The application amount will remain blocked in your bank account until the allotment process is completed.
Prospectus & Documents
Investors can refer to Fascinate Textiles Limited's offer documents and official corporate information for details relating to the public issue, business operations, financial statements, risk factors, objects of the issue, capital structure and other statutory disclosures. The DRHP identifies the company's website as www.fascinatetextile.com and provides the registered office and corporate contact details.
Last updated Sep 1, 2026.