Complete Sports and Management India IPO
Complete Sports and Management India IPO is an SME IPO raising ₹75 Cr at ₹128 – ₹135 a share. It listed on 4 Sept 2026 at ₹139, +3.0% against its issue price of ₹135, and trades at ₹156 today (+15.6% since issue). It was subscribed 3.28× in total.
3.3 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
What this company actually does
Read out of the prospectus’s business section, stripped of its marketing language.
Complete Sports and Management India Limited sources, trades and distributes amusement and leisure equipment, then handles installation, commissioning and maintenance for customers in India and overseas. Its customers include family entertainment centres, clubs, hotels, resorts, corporate clients and residential developments, with equipment and solutions customised for the available space, budget and target visitors. It has an operating presence in India and Singapore and is the authorised distributor for Brunswick bowling products in India, Singapore, Malaysia and Indonesia [p178] [p179].
How it earns
CSML earns from equipment distribution, supply and installation, as well as project execution, maintenance, facility operations and consulting; its company-operated entertainment venues are also intended to generate gaming and food-and-beverage revenue. FY2026 revenue from operations was ₹113.5602 crore, converted from ₹11,356.02 lakh at 1 crore = 100 lakh [p179] [p181] [p184] [p186].
Who buys
Named customers include Timezone, Malpani Arcade Private Limited, Snow World Entertainment, Prasuk Jain Hospitality and TORQ03 Sports & Adventures. Family entertainment centres accounted for 87.47% of FY2026 operating revenue, while Brunswick bowling equipment represented 50.21%; no individual customer's revenue share is stated. The company served approximately 90 customers in FY2026 [p179] [p182] [p183].
Scale
As of 31 July 2026, CSML had 136 employees, one existing Bhiwandi warehouse, and two company-operated venues opened in Mumbai in 2026—All Sett Go and Duckpin – The Bowling Bistro—along with an operating presence in India and Singapore [p180] [p184] [p185].
What it says sets it apart
- It has been the authorised distributor for Brunswick bowling products in India since 1 January 2010, with the territory expanded in August 2025 to Singapore, Malaysia and Indonesia. It can supply and support both traditional and duckpin bowling systems [p178] [p181] [p182].
- It covers most of an entertainment project's lifecycle: site evaluation, feasibility, concept and layout design, equipment sourcing, installation, testing, commissioning, staff training, maintenance and operational consulting [p179] [p182] [p183].
- It sources equipment from manufacturers including Baohui, Coastal Amusements, Elaut, Intercard, Komuse America, Bandai Namco and Sega, providing access to product information, technical support and after-sales assistance [p179] [p184] [p185].
- Its Mumbai-based in-house technical team undertakes installation, testing, commissioning and servicing; the company states that it does not use third-party service providers for these activities [p187].
- Its All Sett Go and Duckpin – The Bowling Bistro venues extend it into direct entertainment and hospitality operations, creating direct consumer relationships and live settings in which products can be evaluated [p183] [p184].
Revenue mix
The numbers at a glance
The price they’re asking →derived: cut-off price Rs135 / stated EPS Rs12.11 (FY2026 (year ended March 31, 2026) diluted EPS, restated consolidated financial information). Stated figures are as printed in the prospectus; margins, growth and the borrowing ratio are computed from its own summary table. A multiple is one lens, not a verdict.
Where the money goes
The offer →Most of this issue is new shares — the money raised goes to the company, not to exiting shareholders.
How its cohort has done
131 SME issues listed in 2026 that we can price today. This is the group this issue belongs to.
Neither figure is a forecast for this issue — they describe what happened to comparable issues. Full cohort analytics →
How the book finished
The category split is the number worth reading, not the total.
QIB: 7.34× their allocation. Retail: 1.57×.
What we hold for this issue
Stated up front on every issue, so a sparse page reads as a fact about the source rather than a broken one.
What could go wrong
All 14risks & documents →From the register read out of the issuer’s own prospectus — each item is quoted verbatim with its page on the risks tab.
What happens when
Next: the UPI mandate expires on 13 Oct 2026.
What to watch
- The asking multiple is 11.1× earnings, and the issuer names no listed peers to compare it against.
- The register's top risk: Top 10 customers drive 80.53% of revenue (prospectus page 29).
- Its cohort's record: median +8.4% since issue price, 46.6% now below it — a base rate, not a forecast.
Each line restates a disclosure from the prospectus or the exchanges — nothing here is a recommendation to apply to this issue.
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