By Wealthova | Last Updated: August 25, 2026
Complete Sports and Management India Limited, an established provider of end-to-end amusement and leisure solutions, is gearing up to make its primary market debut with an upcoming ₹74.93 Crore SME IPO. Known for holding exclusive distribution rights for global brands like Brunswick Bowling, the company offers a diverse portfolio of entertainment infrastructure, including soft play systems, trampoline parks, laser tag arenas, bumper cars, and go-karting setups. The company operates a robust B2B and B2C business model, supplying these recreational assets to clubhouses, corporate clients, family entertainment centres (FECs), hotels, and resorts across India and select international markets. The subscription window for this book-built issue opens on August 28 and closes on September 1, 2026. The price band is set between ₹128 to ₹135 per equity share, comprising entirely of a fresh issue of ₹74.93 Crore with absolutely no Offer for Sale (OFS) component. The company plans to utilize the fresh capital primarily for massive capital expenditures—specifically funding gaming equipment for its Bhiwandi warehouse and establishing its new owned entertainment centre, “Duckpin – The Bowling Bistro” in Mumbai—alongside debt repayment and general corporate purposes. Set to list on the BSE SME platform, market participants are closely watching this fast-growing leisure and entertainment infrastructure player. Below, we break down the financial health, industry risk factors, and our honest Smart Market Insights to help you decide if you should subscribe to this issue!
August 28, 2026
September 1, 2026
₹128 to ₹135
1,000 Shares
(Min. 2 Lots for Retail)₹74.93 Cr
₹74.93 Cr
35.03% Allocation
₹10 Base
SME (BSE SME)
Incorporated in 2002, Complete Sports and Management India Limited operates in a highly specialized, niche market: the rapidly growing amusement, entertainment, and leisure infrastructure sector. Rather than just operating entertainment zones, they are a primary B2B backbone for the industry, providing end-to-end solutions to customers for the development and operation of premium entertainment destinations.
Their business spans across sourcing, trading, distributing, and installing a highly diversified portfolio of leisure equipment. When a new mall, clubhouse, or resort wants to build a gaming zone, Complete Sports manages the entire lifecycle—from consulting and layout design to installation, commissioning, and long-term maintenance.
Their core offerings and business highlights include:
The Complete Sports and Management IPO is a 100% fresh equity issue sized at ₹74.93 Crore. Because there is absolutely no Offer for Sale (OFS) component, the promoters are not cashing out. Instead, every rupee raised will be injected directly into the company's accounts to fuel massive infrastructure expansion and transition into direct B2C operations.
The company intends to utilize the net proceeds for the following strategic objectives:
| 📅 Period Ended | 📈 Total Income | 💼 Net Worth | 💰 PAT | 🏦 Assets |
|---|---|---|---|---|
| FY 2024 | ₹82.60 | ₹13.17 | ₹10.12 | ₹47.02 |
| FY 2025 | ₹111.42 | ₹24.58 | ₹11.41 | ₹69.78 |
| FY 2026 | ₹118.76 | ₹42.46 | ₹18.18 | ₹83.26 |
| Financial KPI (FY26)* | Value |
|---|---|
| Return on Equity (ROE) | 53.55% (FY26) |
| Return on Capital Employed (ROCE) | 47.97% (FY26) |
| EBITDA Margin | 13.39% (FY26) |
| PAT Margin | 15.81% (FY26) |
| Debt to Equity Ratio | 0.21 (FY26) |
| Return on Net Worth (RoNW) | 42.27% (FY26) |
| Earnings Per Share (EPS) | ₹12.11 (Pre-IPO) | ₹8.84 (Post-IPO) |
| Price/Earning (P/E) Ratio | 11.15x (Pre-IPO) | 15.27x (Post-IPO) |
| Net Asset Value (NAV) | ₹28.29 (Pre-IPO) |
| Shareholder Category | Pre-IPO Holding | Post-IPO Holding |
|---|---|---|
| Promoter & Promoter Group | 96.80% | ~59.82% |
| Public / Institutional / Others | 3.20% | ~40.18% |
Complete Sports and Management India Limited is an established provider of end-to-end amusement and leisure solutions. The company is promoted by Rohit Rajesh Mathur, Abha Rohit Mathur, and Rohan Rohit Mathur. Prior to this issue, the promoter group held a dominant 96.80% equity stake. Post-issue, factoring in the ₹74.93 Crore fresh equity dilution (with zero Offer for Sale), the promoter holding will adjust to ~59.82%. The strategic capital expenditure allocation for their Bhiwandi warehouse and the new "Duckpin – The Bowling Bistro" highlights a move to aggressively expand their B2B equipment supply capacity and B2C entertainment reach, positioning the company to capture growing demand and scale top-line revenue for new shareholders.
| Company Name | EPS (₹) | P/E Ratio (Post-IPO) | RoNW (%) |
|---|---|---|---|
| Complete Sports and Management (IPO) | 8.84 | 15.27 | 42.27% |
| Listed Industry Peers | N/A | N/A | N/A |
*As per the official RHP, there are no listed companies in India engaged in a business similar to that of Complete Sports and Management India Limited.
Complete Sports and Management India Limited has carved out a profitable niche as an end-to-end B2B infrastructure partner in India's expanding amusement, sports, and family leisure sector. Holding exclusive distribution rights for global industry leader Brunswick Bowling across India and parts of Southeast Asia, the company delivers turnkey solutions—ranging from bowling alleys and trampoline parks to laser tag and arcade systems—for prominent Family Entertainment Centres (FECs), premium clubs, resorts, and corporate campuses. This structural demand for lifestyle entertainment has translated into strong financial momentum, with total income scaling to ₹118.76 Crore in FY26, alongside a robust Profit After Tax (PAT) of ₹18.18 Crore.
From a balance sheet perspective, Complete Sports demonstrates outstanding capital efficiency, clocking a Return on Net Worth (RoNW) of 42.27%, an ROCE of 47.97%, and a healthy PAT margin of 15.31%. The primary catalyst for incoming investors is that this ₹74.93 Crore IPO is a 100% fresh issue. Deploying ₹39.88 Crore towards inventory and equipment at their Bhiwandi warehouse and ₹8.09 Crore to launch their owned entertainment bistro ("Duckpin – The Bowling Bistro" in Mumbai) creates a direct pathway for capacity and margin expansion, while ₹11.50 Crore in debt reduction will keep the balance sheet lean. However, investors must weigh genuine business risks: extreme client concentration (top 10 customers contributed 80.53% of FY26 revenue), heavy reliance on Brunswick Bowling products (50.21% of revenue), and past instances of negative operating cash flows.
At the upper price band of ₹135 per share, the issue is valued at a post-IPO P/E multiple of 15.27x (based on FY26 post-issue EPS of ₹8.84). While there are no directly comparable listed peers on Indian exchanges, an earnings multiple around 15x is reasonably priced for a specialized player delivering >40% return ratios and virtually negligible debt (0.21 D/E). For investors comfortable with SME liquidity conditions and the required minimum retail ticket size of ₹2.70 Lakh (2 lots / 2,000 shares) on the BSE SME platform, this issue presents a fundamentally sound growth opportunity for medium to long-term wealth creation.
Disclaimer: The information provided above is for educational and informational purposes only and does not constitute financial advice. Initial Public Offerings (IPOs) carry market risks, and equity investments are subject to broader market fluctuations. Wealthova is not a SEBI-registered investment advisor. Always consult with a certified financial planner and conduct your own due diligence before locking up capital in any public issue.
| Role / Entity | Contact & Details |
|---|---|
| 📋 IPO Registrar |
Bigshare Services Pvt. Ltd.
Office No S6-2, 6th floor, Pinnacle Business Park, Next to Ahura Centre, Mahakali Caves Road, Andheri (East), Mumbai 400 093, Maharashtra, India
Phone: +91-22-6263-8200
Email: ipo@bigshareonline.com
Website: bigshareonline.com
|
| 🏢 Company Contact |
Complete Sports and Management India Limited
B-223-226, 2nd Floor, Chintamani Plaza, Mohan Studio Compound, Andheri Kurla Road, Chakala, Andheri (East), Mumbai 400 099, Maharashtra, India
Phone: +91-22-4973-9657
Email: info@csmlindia.com
Website: csmlgroup.com
|
| 💼 Merchant Bankers |
Smart Horizon Capital Advisors Pvt. Ltd.
Book Running Lead Manager
Address: B/908, Western Edge II, Kanakia Space, Off Western Express Highway, Magathane, Borivali East, Mumbai 400 066, Maharashtra, India
Phone: +91-22-2870-6822
Email: investor@shcapl.com
Website: shcapl.com
|