Fascinate Textiles Limited operates as an integrated manufacturer of readymade garments, specializing in men's, women's, and children's apparel through a combination of B2B and direct-to-consumer sales channels. Track all the important IPOs of India at one place.
Transitioning to the public markets, the Fascinate Textiles IPO opens for public subscription on August 11, 2026, and is scheduled to close on August 13, 2026.
This NSE EMERGE offering aims to raise up to ₹66.98 crores, comprising a ₹53.94 crore fresh issue and an offer for sale of 8,36,000 equity shares by existing promoters.
The price band has been fixed at ₹148 to ₹156 per equity share, requiring a minimum retail bidding lot of 800 shares.
Discover everything you need to know about the Fascinate Textiles IPO, from current GMP and subscription levels to the price band, allocation dates, and an in-depth analysis.
Briefs of Fascinate Textiles IPO Details
- Price Band: ₹148 – ₹156 per share
- IPO Open / Close Dates: 11 August 2026 / 13 August 2026
- Lot Size: 800 shares (Minimum retail investment is 2 lots: 1,600 shares)
- Issue Size: 42,93,600 shares / Up to ₹66.98 crores
- Fresh Issue / OFS: Fresh Issue of ₹53.94 crores / OFS of ₹13.04 crores
- Registrar: Cameo Corporate Services Ltd.
- Listing Exchange: NSE SME
IPO Reservation
- Face value: ₹10 per share
- Anchor offer: Nil
- QIB-shares: Not more than 43,200 Equity Shares
- NIIs-Shares offered: Not less than 16,16,000 Equity Shares
- RIIs- Shares offered: Not less than 24,19,200 Equity Shares
What are today's Unofficial Premium Trends (GMP) for the Fascinate Textiles Public Issue?
Check our main GMP page to stay updated on this IPO's premium along with other current issues. These numbers respond daily to market demand and should be viewed strictly as an unofficial benchmark not governed by SEBI or the major exchanges.
What is the Official Timeline and Share Allotment Schedule for the Fascinate Textiles IPO?
- IPO Open & Close Date: 11 August 2026 to 13 August 2026
- Basis of Allotment Date: 14 August 2026
- Refund Initiation Date: 17 August 2026
- Credit of Shares: 17 August 2026
- Listing Date: 18 August 2026
Check all the key iPO terms IPO Glossary: 100+ Important Terms Every Investor Should Know
What Specific Corporate Goals or Growth Strategies is the Fascinate Textiles IPO funding?
The company's leadership team plans to utilize the net proceeds from this offering to fund the following core initiatives:
- Working Capital Requirements: An allocation of ₹25.15 crores is earmarked to fund the heavy working capital cycles required for ready-to-use fabric inventory and trade receivables.
- Capital Expenditure: Approximately ₹12.35 crores will be utilised to establish an additional manufacturing facility in Barasat, West Bengal, aiming to double production capacity.
- Debt Repayment: The firm will use ₹2.68 crores to prepay or repay certain outstanding secured and unsecured loans to improve leverage.
- General Corporate Purposes: The remaining balance, capped at 15% of gross proceeds, will fund routine administrative expenses and strategic brand-building campaigns.
Check this important report IPO Listing Performance Tracker 2026 – Complete Dataset of IPO Listing Gains in India
How has Fascinate Textiles performed Financially in Recent Fiscal Periods?
The table below presents a summary of Fascinate Textiles' financial results and metrics in Rupees Crores.
Period Ended | 31 Mar 26 | 31 Mar 2025 | 31 Mar 24 |
Total Income | 117.23 | 60.28 | 28.90 |
Profit After Tax | 15.10 | 5.81 | 0.48 |
EBITDA | 24.15 | 10.01 | 1.68 |
Total Borrowing | 26.02 | 18.21 | 12.33 |
Assets | 92.75 | 42.26 | 25.45 |
Financial Observations
Total Income
The company registered a highly aggressive upward trajectory in its revenue streams over the observed fiscal periods.
- Total income expanded impressively from ₹28.90 crores in FY24 to ₹117.23 crores in FY26.
- This surge was propelled by portfolio diversification beyond kidswear into higher-margin menswear.
- The expansion of B2B channels serving organised retail chains supported this rapid top-line scale-up.
Profit After Tax
Net profitability experienced exceptional multi-fold growth as operational scale widened.
- PAT surged dramatically from ₹0.48 crores in FY24 to ₹15.10 crores in FY26.
- The PAT margin expanded to 12.89% in the latest fiscal year.
- Merger synergies and double-shift automation significantly aided this bottom-line momentum.
EBITDA
Core operational earnings advanced significantly, reflecting the firm's improved manufacturing efficiencies.
- EBITDA increased sharply from ₹1.68 crores in FY24 to ₹24.15 crores in FY26.
- The EBITDA margin reached a highly competitive 20.62% during the most recent fiscal period.
- Reducing manual cutting wastage and blending polyester into the raw material mix enhanced margin retention.
Total Borrowing
The business utilised external debt to manage its working capital-intensive garment manufacturing operations.
- Total borrowings more than doubled from ₹12.33 crores in FY24 to ₹26.02 crores in FY26.
- These funds are primarily deployed as short-term bank cash credits to finance fabric purchases.
- A dedicated portion of the fresh IPO proceeds is allocated to reducing this short-term debt burden.
Assets
The overall resource base of the company widened to accommodate its increasing inventory and receivables.
- Total assets expanded rapidly from ₹25.45 crores in FY24 to ₹92.75 crores in FY26.
- This build-up is heavily tied to current assets, specifically ₹48.13 crores in inventory and ₹35.28 crores in trade receivables.
- The planned establishment of a new facility in Barasat will further enlarge this asset profile post-listing.
What Are the P/E ratio and Peer Comparison of Fascinate Textiles Limited?
Based on a fiscal year 2026 EPS of ₹14.66, Fascinate Textiles’ price-to-earnings (P/E) multiple stands at 10.64x when calculated at the top end of the ₹156 price band.
Also check IPO Valuation vs Listing Performance Study 2026
Name of the Company | Revenue from Operations (₹ Cr) | Basic EPS (₹) | Face Value (₹) | P/E Ratio | RoNW (%) | NAV (₹) |
Fascinate Textiles Limited | 117.09 | 14.66 | 10 | 10.64 | 48.02 | 30.52 |
Iris Clothings Limited | 190.87 | 0.85 | 2 | 54.92 | 11.42 | 37.24 |
Kewal Kiran Clothing Ltd | 1,212.77 | 23.03 | 10 | 21.71 | 13.60 | 181.66 |
Analysis:
Fascinate Textiles Limited enters the primary market demanding an implied P/E multiple of approximately 10.64x at the upper price band.
When evaluated against the listed industry average P/E of 34.93 and established peers like Iris Clothings (54.92x) and Kewal Kiran Clothing (21.71x), the issue appears to be priced at a steep discount.
While operating on a smaller absolute revenue base (₹117.09 crores in FY26), Fascinate Textiles boasts a highly exceptional Return on Net Worth (RoNW) of 48.02%, significantly outpacing both Iris Clothings (11.42%) and Kewal Kiran (13.60%). This highlights the firm's highly efficient utilisation of shareholder equity and strong operational leverage.
What is the Industry Outlook of Fascinate Textiles Limited?
Growth potential
- The Indian apparel and readymade garment sector is experiencing robust domestic consumption, driven by rising disposable incomes and a demographic shift toward branded wear.
- Organised retail penetration in Tier-2 and Tier-3 cities offers a clear runway for volume growth for integrated B2B garment manufacturers.
- The "China Plus One" strategy presents significant long-term export opportunities for Indian textile firms capable of scaling capacity and meeting international quality standards.
Market trends
- The readymade garment sector is highly fragmented and fiercely competitive, heavily reliant on fast-moving fashion trends and seasonal festival demands.
- Working capital intensity remains a dominant trend, as manufacturers must hold massive raw material inventories to execute quick-turnaround orders without production downtime.
- Automation in cutting, dyeing, and printing processes is becoming essential to reduce manual labour costs and improve EBITDA margins.
What Are The Strengths and Risks of Fascinate Textiles IPO ?
Strengths:
- Margin Expansion: Transitioning from an unorganised to an automated facility significantly expanded the PAT margin from 1.65% in FY24 to 12.89% in FY26.
- Capacity Expansion: The firm is deploying IPO proceeds to establish a new facility in Barasat, which will expand production capacity by 100%.
- Superior Return Metrics: The business generates an exceptional Return on Net Worth (RoNW) of 48.02%, drastically outperforming listed industry peers.
Risks:
- Negative Cash Flows: Despite recording robust profits, the company sustained deeply negative cash flows from operating activities of ₹(10.87) crores in FY26.
- Customer Concentration: The firm is significantly dependent on a limited client pool, with the top 10 customers accounting for 72.99% of sales in FY26.
- Regional Production Concentration: All current manufacturing takes place at a single facility in Barasat, West Bengal, rendering operations vulnerable to regional disruptions.
Key Considerations for Investors
- Valuation Buffer: At the upper band, the company demands an implied P/E of ~10.64x, offering a steep discount compared to the industry average P/E of 34.93x.
- Working Capital Strain: Heavy inventory build-ups (₹48.13 crores) and extended trade receivables resulted in deeply negative operating cash flows of ₹(10.87) crores in FY26.
- Customer Dependency: The top 10 customers generated 72.99% of sales in FY26, creating high concentration risk if major B2B retail chains reduce orders.
- Exceptional Returns: Despite cash flow pressures, the automated manufacturing model yields highly lucrative returns, posting a 20.62% EBITDA margin and a 48.02% RoNW.
Key Takeaways
- IPO Price Band: ₹148 to ₹156 per equity share
- Lot Size: 800 shares (Minimum retail application of ₹2,49,600 for 2 lots)
- Allotment Date: Allotment on 14 August 2026
- Listing Dates: Listing on NSE SME on 18 August 2026
FAQs on Fascinate Textiles IPO
How much is Fascinate Textiles' IPO trading for in today’s grey market?
For real-time premium updates on this SME offering, please refer to our centralized GMP dashboard. Keep in mind that these unofficial benchmarks shift daily alongside changing market trends and investor sentiment.
What is Fascinate Textiles IPO price band?
The application price range has been established at ₹148 to ₹156 per equity share.
What is Fascinate Textiles IPO allotment date?
The company plans to wrap up the basis of allotment process on August 14, 2026.
How to check Fascinate Textiles IPO allotment status?
After the share basis is settled, applicants can verify their allotment status through Cameo Corporate Services Ltd., the official issue registrar, using their credentials.
What is Fascinate Textiles IPO listing date?
The official listing date for the equity shares on the NSE SME trading platform is set for August 18, 2026.
Investment Perspective on Fascinate Textiles IPO
Market participants should base their decisions on a thorough reading of the prospectus, noting the company's reliance on a few key customers, negative operating cash flows, and regional manufacturing concentration.
Fascinate Textiles Limited (FTL) offers a compelling, high-growth play in the children's readymade garment segment, with revenue scaling up to ₹117.09 Crores and EBITDA margins reaching a stellar 20.62% in FY26.
Priced at a modest valuation, FTL trades at a deep valuation discount compared to listed peers like Iris Clothings.
While intense pricing pressure and heavy working capital requirements pose key operational risks, the IPO-funded capacity expansion remains a major long-term growth driver.
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Disclaimer: This content is structured as an educational summary and does not represent official investment advice. It is highly recommended that individuals verify all investment plans with a SEBI-authorized consultant prior to deploying money.
