Complete Sports & Management India Ltd. (Complete Sports and Management IPO)
CSMISME
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Overview
Complete Sports and Management India Limited is an amusement and leisure equipment solutions company that sources, trades, distributes and installs a wide range of products such as bowling lanes (including duckpin), arcade and redemption games, soft play and trampoline systems, laser tag, bumper cars, go-karting systems and cashless gaming platforms, along with spares and consumables. The company complements equipment supply with end-to-end project support—site feasibility, layout and game-mix planning, procurement and logistics (including imports), installation, testing/commissioning, staff training, and after-sales maintenance—serving customers such as family entertainment centres, malls, clubs, hotels, resorts, corporates and residential developers in India and select overseas markets. It also has begun forward integration into consumer-facing venues via company-operated brands All Sett Go (sports bar with interactive gaming) and Duckpin – The Bowling Bistro (bowling-led entertainment and F&B) in Mumbai, and operates through a Singapore subsidiary as a regional procurement/distribution hub.
Opening Date
Aug 28, 2026
Closing Date
Sep 01, 2026
Listing Date
Sep 04, 2026
IPO Type
SME
IPO Status
Closed
Issue Size
74.93 Cr
Fresh Issue
74.93 Cr
Offer for Sale
0 Cr
Price Band
₹128 - ₹135
Lot Size
1000
IPO Timeline
Financials
Revenue
Profit After Tax (PAT)
Use of IPO funds
Key Performance Indicator
P/E Ratio
11.15
EPS
12.11
ROE
53.55%
ROCE
47.97%
RONW
42.27%
Debt to Equity Ratio
0.21
PAT Margin
15.81%
EBITDA Margin
13.39%
P/B
4.77
Bull vs Bear
Bull case
- •
Exclusive Brunswick distributorship can protect customer access and service know-how, which is hard for rivals to copy and supports repeat projects.
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End-to-end setup plus operations support can deepen customer stickiness, because switching vendors risks downtime and safety issues at venues.
- •
Industry is shifting toward organized, experience-led indoor centers, which can expand demand for modern equipment and upgrades over time.
Bear case
- •
Revenue depends heavily on a few customers, so losing one big account can quickly hit sales and cash inflows.
- •
Demand is tied to leisure trends and venue capex, so a shift in consumer preferences can reduce orders and pressure margins.
- •
Purchases rely on a few overseas suppliers, so delays or worse terms can raise costs and disrupt project delivery schedules.
Net takeaway
This business is a picks-and-shovels play on indoor entertainment growth, with an edge from Brunswick access and full project execution support. That can help win complex jobs and keep customers coming back, but the business is exposed to concentration on both customers and suppliers, and demand depends on how much venues keep investing. The key thing to monitor is whether customer dependence reduces while receivable days stay under control.
