GMP IPO Watch
Complete Sports & Management India IPO 2026 – Latest Update
The Complete Sports & Management India IPO opened for subscription on August 28, 2026, and will remain open until September 1, 2026.
The company is looking to raise approximately ₹74.93 crore through a fresh issue of 55.50 lakh equity shares. The shares are scheduled to list on the BSE SME platform on September 4, 2026.
Complete Sports & Management India IPO Details
| Particular | Details |
|---|---|
| IPO Type | BSE SME IPO |
| Issue Size | ₹74.93 Crore |
| Fresh Issue | ₹74.93 Crore |
| Offer for Sale | Nil |
| Price Band | ₹128 – ₹135 |
| Face Value | ₹10 |
| Lot Size | 1,000 Shares |
| Minimum Investment | ₹1,35,000 |
| IPO Open Date | August 28, 2026 |
| IPO Close Date | September 1, 2026 |
| Allotment Date | September 2, 2026 |
| Listing Date | September 4, 2026 |
| Listing Platform | BSE SME |
| Registrar | Bigshare Services |
| Lead Manager | Smart Horizon Capital Advisors |
At the upper price of ₹135, investors need ₹1.35 lakh for one lot of 1,000 shares.
Complete Sports & Management India IPO Subscription
The IPO has seen a relatively cautious start compared with some of the other SME issues opening during the same period.
Early subscription data reported by Mint showed the issue at 0.12x overall, with QIB participation yet to build significantly.
| Category | Early Subscription |
|---|---|
| QIB | 0x |
| NII | 0.39x |
| Retail | 0.04x |
| Overall | 0.12x |
The subscription numbers can change considerably during the remaining bidding period, particularly as institutional and non-institutional investors generally increase their participation toward the final day.
Complete Sports & Management India IPO GMP
The available IPO tracking data currently does not show a meaningful GMP for Complete Sports & Management India.
| GMP Indicator | Status |
|---|---|
| Upper Issue Price | ₹135 |
| GMP | Not Available |
| Indicative Listing Price | Not Available |
| GMP Sentiment | No reliable signal |
Investors should therefore avoid assuming a listing premium based on unverified grey-market figures. GMP is unofficial in any case and should not be treated as a guaranteed listing price.
What Does Complete Sports & Management India Do?
Complete Sports & Management India operates in the sports, entertainment and amusement equipment industry.
The company has developed its business around:
sports bars + entertainment centres + amusement equipment + gaming equipment distribution.
It has entered into distribution arrangements with international companies including KOMUSE America, Sega Amusements International and Bandai Namco Amusement Europe.
The business therefore combines entertainment-centre operations with equipment distribution.
Sports Bars and Entertainment Centres
One part of the company's business is operating entertainment-focused venues.
The company inaugurated its first sports bar and restaurant outlet at Infinity Mall, Andheri, Mumbai, expanding its presence from equipment distribution into consumer-facing entertainment.
The strategy allows the company to generate revenue not only from selling or distributing amusement equipment but also from operating entertainment destinations.
Duckpin – The Bowling Bistro
A major objective of the IPO is to fund the establishment of the company's 'Duckpin – The Bowling Bistro' entertainment centre in Mumbai.
The concept combines bowling with food and entertainment, targeting consumers looking for recreational experiences.
The IPO proceeds will help fund the capital expenditure required for this new centre.
This expansion represents an important part of the company's future growth strategy.
Distribution Agreements Add International Brands
Complete Sports & Management India has entered into distribution agreements with several international amusement and gaming companies.
These include:
- KOMUSE America, Inc.
- Sega Amusements International Ltd.
- Bandai Namco Amusement Europe Ltd.
These relationships provide access to established gaming and amusement equipment brands and give the company a position in India's growing entertainment-equipment market.
IPO Funds Will Be Used for Expansion
The ₹74.93 crore fresh issue has several planned uses.
| IPO Objective | Purpose |
|---|---|
| Gaming Equipment | Purchase equipment for existing warehouse |
| Warehouse Capex | Computers, software, tools and safety equipment |
| Duckpin Project | Set up entertainment centre in Mumbai |
| Debt Repayment | Repay/prepay certain borrowings |
| General Corporate | Business requirements |
The company plans to invest in its existing warehouse at Bhiwandi, Maharashtra, while also funding the Duckpin entertainment centre.
Bhiwandi Warehouse Expansion
A portion of the IPO proceeds will be used for capital expenditure at the company's existing warehouse in Bhiwandi.
The planned purchases include:
gaming equipment + computers + printers + software + tools + CCTV + safety equipment.
This investment should increase the company's ability to handle and support its equipment-distribution operations.
Entertainment Industry Opportunity
India's organised entertainment industry is benefiting from changing consumer preferences.
Urban consumers are increasingly spending on:
bowling + gaming + sports bars + family entertainment + experiential dining.
This creates an opportunity for companies operating entertainment venues and supplying amusement equipment.
Complete Sports & Management India is positioned across both sides of this market through its equipment-distribution and entertainment-centre businesses.
Financial Performance
The company's financial performance needs to be viewed in the context of its relatively specialised business model.
The IPO is being positioned around expansion of the company's equipment business and development of additional entertainment infrastructure.
For investors, the key issue will be whether the company can convert its new capital expenditure into higher revenue and sustainable profits.
The company's future performance will depend heavily on:
equipment sales + venue utilisation + customer spending + project execution + operating margins.
Fresh Issue Provides Growth Capital
The IPO is entirely a fresh issue, meaning existing shareholders are not selling shares through an OFS component.
The company is issuing 55.50 lakh new equity shares and expects to raise between ₹71.04 crore and ₹74.93 crore depending on the final issue price.
This is positive from a capital-raising perspective because the funds are intended for the company's own expansion and financial requirements.
Debt Repayment Is Another IPO Objective
Apart from expansion, part of the IPO proceeds will be used for repayment or prepayment of certain outstanding borrowings.
Debt reduction could potentially help lower interest costs and improve financial flexibility.
The actual benefit will depend on the amount of debt repaid and whether the company requires additional borrowings as it expands.
Key Strengths of Complete Sports & Management India
The main positives include:
- Established presence in amusement and entertainment
- Distribution agreements with international brands
- Sports bar and restaurant operations
- Planned Duckpin entertainment centre
- Exposure to India's experiential entertainment market
- 100% fresh issue
- Investment in gaming equipment
- Bhiwandi warehouse expansion
- Planned debt repayment
- Opportunity to diversify revenue across equipment and venues
The company's combination of equipment distribution and entertainment venues gives it a somewhat different business profile from conventional SME IPOs.
Major Risks
Investors should also consider:
- SME IPO liquidity risk
- High minimum investment of ₹1.35 lakh
- Entertainment demand can be discretionary
- New venue execution risk
- Dependence on consumer spending
- Competition from entertainment chains
- Equipment-import and supply risks
- Brand/distribution agreement dependence
- High operating costs for entertainment venues
- Working-capital requirements
- Potential debt requirements for future expansion
The absence of a reliable GMP signal also means investors currently have less indication of unofficial listing sentiment.
What Investors Should Track After Listing
| Metric | Why It Matters |
|---|---|
| Equipment Sales | Core business growth |
| Venue Revenue | New entertainment business |
| Duckpin Utilisation | Success of expansion |
| EBITDA Margin | Operating efficiency |
| PAT Growth | Profitability |
| Inventory | Working-capital control |
| Borrowings | Financial risk |
| Operating Cash Flow | Earnings quality |
| New Distribution Deals | Business expansion |
| Customer Footfall | Entertainment demand |
| ROCE | Capital efficiency |
For Complete Sports & Management India, venue utilisation, equipment sales and cash-flow generation will be particularly important after listing.
Final View on Complete Sports & Management India IPO
The Complete Sports & Management India IPO is open from August 28 to September 1, 2026, with a price band of ₹128–₹135 per share. The issue size is approximately ₹74.93 crore, consisting entirely of a fresh issue. The shares are scheduled to list on September 4, 2026.
The company operates across amusement equipment distribution, sports bars and entertainment centres, with distribution relationships involving KOMUSE, Sega Amusements and Bandai Namco.
The IPO proceeds are intended for gaming-equipment and warehouse capex, the planned Duckpin – The Bowling Bistro centre in Mumbai, debt repayment and general corporate purposes.
