Fascinate Textiles Ltd IPO
Status: Closed
Overview
IPO date
11 Aug 2026 to 19 Aug 2026
Face value
₹ 10 per share
Price
₹ 142 to ₹151 per share
Issue Size
4,293,600 shares
(aggregating up to ₹ 64.83 Cr)
(aggregating up to ₹ 64.83 Cr)
Allotment Date
20 Aug 2026
Listing at
NSE
Issue type
Book Building - SME
Sector
Textiles
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T&C*
Strengths vs Risks of Fascinate Textiles Ltd
Know the pros & cons
Strengths
- Organizational stability along with management expertise.
- Established reputation and customer relationships.
- Focus on consistently meeting quality standards.
- Well Established Manufacturing Facility designed for wide range of products.
- Experienced Management Team and a motivated and efficient workforce.
Risks
- The company is dependent on its suppliers for uninterrupted supply of Raw-Materials. Any shortfall in the supply of its raw materials, or an increase in the company's raw material costs and other input costs, may adversely affect the pricing and supply of its products with subsequently having an adverse effect on the business, results of operations and financial conditions of the company.
- The company's business is substantially dependent on certain key customers, from whom its derives a significant portion of the company's revenues. The loss of any significant customer may have a material and adverse effect on its business and results of operations.
- The company's cost of production is exposed to fluctuations in the prices of its major raw material, especially of fabrics.
- Significant portion of the company's revenue has been generated from Eastern & Southern part of India, any loss of business from these states may adversely affect its revenues and profitability.
- The company's business is both manpower and machine intensive. Its business may be adversely affected by strikes, work stoppages, increased wages demands by the company's employees, or any other kind of disputes with its employees, and if the company is unable to engage new employees at commercially attractive terms.
- The Company's operations requires significant amount of working capital for a continuing growth. Its inability to meet the company's working capital requirements may adversely affect its results of operations.
- Fraud, theft, employee negligence or similar incidents may adversely affect the company's results of operations and financial condition.
- The company is dependent on its Promoters, Directors and Key Managerial Personnel of the Company for success whose loss could seriously impair the ability to continue to manage and expand business efficiently.
- Trade Receivables forms a significant part of the company's current assets. Failures to manage its trade receivables could have an adverse effect on the company's sales, profitability, cash flow and liquidity.
- History of negative cash flows from operating activities may adversely affect the company's liquidity, financial condition and results of operations.
- There are certain delays in some of the company's corporate records relating to forms filed with the Registrar of Companies and other provision of Companies Act, 1956/2013. Any penalty or action taken by any regulatory authorities in future, for delay filing with provisions of corporate and other law could impact the financial position of the Company to that extent.
- The company is dependent on third party transport providers for the delivery of its raw material and Finished products. Accordingly, continuing increases in transportation costs or unavailability of transportation services for them, as well the extent and reliability of Indian infrastructure may have an adverse effect on the company's business, financial condition, results of operations and prospects.
- The company's income and sales is subject to seasonal fluctuations and lower income in a peak season may have a disproportionate effect on its results of operations.
- The company's high debt-to-equity ratio may affect its liquidity, the company's ability to service debt, and affect its overall financial position.
- The company has in the past entered into related party transactions and may continue to do so in the future.
- The company has taken guarantees from Promoters in relation to debt facilities provided to it.
- There have been several instances of delay in filing of GST, EPF and ESIC returns by the Company in the past.
- The company has filed application for the trademark registration but its may not be able to prevent unauthorized use of the company's intellectual property.
- The company's Promoters, Directors, Key Managerial Personnel and members of Senior Management are interested in the Company other than reimbursement of expenses or normal remuneration or benefits which may result in a conflict of interest with it.
- There are outstanding legal proceedings involving the Company. Any adverse decisions could impact its cashflows and profit or loss to the extent of demand amount, interest and penalty, divert management time and attention and have an adverse effect on the company's business, prospects, results of operations and financial condition.
- The company's business is dependent on its manufacturing facilities and the company is subject to certain risks in the company's manufacturing process. Obsolescence, destruction, theft, breakdowns of its machineries or failures to repair affect the company's business, cash flows, financial condition and results of operations.
- The company's business prospects and results of operations may be adversely affected if the company is unable to grow business in additional geographic regions or international markets.
- The Company is dependent on its Promoters and will continue to be controlled by the Promoters so long as they hold a majority of the Equity Shares.
- The company's business requires it to obtain and renew certain licenses and permits from government, regulatory authorities and the failures to obtain or renew them in a timely manner may adversely affect its business operations.
- Its contingent liabilities as stated in the company's Restated Financial Statements could adversely affect its financial condition.
- The Company has, in the past, filed certain forms relating to directors under categories that were not aligned with the applicable ROC classifications, and any regulatory observations in this regard may have an impact on the company's business and operations.
- There may be potential conflicts of interest between the Company and entities forming part of its Promoter Group or entities in which the company's Directors may be interested.
- The company does not hold any copyright or other forms of intellectual property protection in relation to the designs of its products.
- The company does not hold any patents or other form of intellectual property protection in relation to the company's manufacturing processes.
- The company has borrowed certain unsecured loans that may be payable on demand.
- The company has incurred indebtedness and an inability to obtain further financing or to comply with repayment and other covenants in the company's financing agreements could adversely affect its business, results of operations, financial condition and cash flows.
- The company's labor-intensive operations, along with its reliance on third-party contract labour particularly during peak periods may expose the company to operational disruptions and compliance obligations arising from workforce-related issues such as strikes, wages demands, or service dependencies.
- A portion of the Net Proceeds proposed to be utilized for repayment of certain loans will not result in the creation of any tangible assets.
- The company also sells the products through network of retailers. Any inability to effectively manage or expand retail network may have an adverse effect on business, results of operations and financial condition.
- The company may requires additional equity or debt in the future in order to continue to grow business, which may not be available on favourable terms or at all.
- The Objects of the Offer for which funds are being raised have not been appraised by any bank or financial institution.
- The Company may introduce new products that may not achieve commercial success, which could adversely affect the company's results of operations and financial condition.
- The company's business may faces increasing competition from online retailers that may impact its pricing ability and results of operations.
- The company has not commissioned an industry report for the disclosures made in the chapter titled "Industry Overview" and made disclosures on the basis of the data available from the online source.
- The price of securities issued by the company in the past 12 months may be lower than the offer price.
- The Company will not receive any proceeds from the Offer for Sale, and may not receive proceeds from the Offer.
- The average cost of acquisition of Equity Shares by the company's Promoters could also be lower than the Offer Price.
- The company's insurance coverage may not adequately protect it against all material hazards, which may adversely affect its business, results of operations and financial condition.
- Delays or defaults in customer payments could adversely affect the company's financial condition.
- Significant failures or disruption of the company's information technology systems could adversely impact its business, results of operations and financial condition.
- The company's existing manufacturing facilities are concentrated in a single region, i.e. Barasat, West Bengal. Any slowdown or disruption in the company's manufacturing operations in any of its manufacturing facilities could have a material and adverse impact on the company's business and operations.
- Inability to respond to evolving customer preferences may adversely impact the company's business.
- Political, economic or other factors that are beyond the company's control may have an adverse effect on its business and results of operations.
- The company's operations may be impacted by industrial accidents, physical hazards, or similar risks at its manufacturing premises, which could lead to operational disruption, financial loss, or reputational impact.
- The company's estimates and forward-looking statements may prove to be inaccurate, which could adversely affect investors' perception and decision-making.
- Underutilization of capacity of the company's manufacturing capacities and an ability to effectively utilize its expanded manufacturing capacities may adversely affect the company's business, future prospects and future financial performance.
- The company's ability to pay dividends in the future will depends on its earnings, financial condition, working capital requirements, capital expenditures and restrictive covenants of the company's financing arrangements.
- The company's manufacturing facility is subject to operating risks, and any disruption or shutdown may adversely impact its business, financial condition, and results of operations.
- The company has not made any alternate arrangements for meeting its regular working capital requirements. If the company is unable to manage/arrange funds (including at short notice) to meet its working capital requirements, there may be an adverse effect on the company's results of operations and financial performance.
- If the company is unable to source business opportunities effectively, its may not achieve the company's financial objectives.
- Hiring unskilled labour from third-party contract labour suppliers exposes it to the risk of operational inefficiencies, reduced product quality, and potential disruptions in business operations.
- The company is subject to stringent quality and delivery requirements, and any failures to comply with such standards may lead to order cancellations, reputational harm, and adverse financial consequences.
- The company's future success depends on its ability to build and promote the company's brands and protect its reputation. Any failures in these areas may affect the company's growth prospects.
- The highly competitive nature of the garment manufacturing industry, particularly due to the presence of numerous unorganized players, may result in pricing pressure, market share loss, and impact the company's profitability.
- NSE may not grant in-principle approval for listing of equity shares of the Company.
Fascinate Textiles Ltd Peer Comparison
Understand the company’s industry standing
Fascinate Textiles Ltd
Iris Clothings Limited
Kewal Kiran Clothing Limited
Face Value
10
2
10
Standalone / Consolidated
Standalone
Standalone
Consolidated
Total Income Rs. Cr.
---
---
---
EPS-Basis
14.66
0.85
23.03
EPS-Diluted
14.66
0.85
23.03
NAV Per Share
30.52
37.24
181.66
P/E-Basic EPS
---
54.92
21.71
P/E-Diluted EPS
---
---
---
RONW(%)
48.02
11.42
13.6
Latest NAV Period
---
---
---
Latest NAV
---
---
---
How to check the allotment status of Fascinate Textiles Ltd IPO?
Follow the steps
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
Select company from dropdown menu.
Enter details- PAN, Application number or DP client ID
Get your allotment status
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The IPO opens on 11 Aug 2026 & closes on 19 Aug 2026.
Fascinate Textiles Limited was originally incorporated on February 09, 2017 at Kolkata, West Bengal as a Private Limited Company as 'Fascinate Textiles Private Limited'. Further, Company was converted into a Public Limited Company and the name of the Company was changed from 'Fascinate Textiles Private Limited' to 'Fascinate Textiles Limited' via fresh Certificate of incorporation dated May 21, 2025 issued by the Registrar of Companies, Central Registration Centre.
Company is engaged in the manufacturing of readymade garments, with operations based in West Bengal. The product range spans menswear, womenswear, and childrenswear, focused on garments for children. It specializes in production and sale of t-shirts, joggers, vests, leggings, shorts, and infant wear, among others, catering to a variety of end-use segments and age groups.
Company develop samples both in response to themes and mood boards provided by buyers, as well as through own designs. Once a sample receives approval, it undertake production at the manufacturing facility. The garments are supplied to large-format retailers and wholesalers in local market. Apart from these, manufacturing activities are primarily concentrated in Barasat, North 24 Parganas, West Bengal. Most operations following fabric processing including cutting, printing, stitching, and finishing are conducted in-house.
The Company manage design development, sample creation, and production schedules internally through a team of merchandisers, each assigned to specific buyers to ensure continuity and coordination. procure yarn, which is then sent for knitting and dyeing through external job workers. Once the processed fabric is received, all subsequent manufacturing operations are carried out within the production facility.
Company is planning the initial public offering of 42,94,000 equity shares of face value of Rs 10 each, comprising a fresh issue of 34,58,000 equity shares and the offer for sale of 8,36,000 equity shares.
Fascinate Textiles Ltd IPO will close on 19 Aug 2026.
- Organizational stability along with management expertise.
- Established reputation and customer relationships.
- Focus on consistently meeting quality standards.
- Well Established Manufacturing Facility designed for wide range of products.
- Experienced Management Team and a motivated and efficient workforce.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Vishal Nahar | 3793922 | 36.82 | 3793922 | 27.57 |
| 2 | Chirag Ahuja | 1364055 | 13.24 | 1364055 | 9.91 |
| 3 | Rishabh Nahar | 933324 | 9.06 | 933324 | 6.78 |
| 4 | Narinder Kumar Ahuja | 1364069 | 13.24 | 1364069 | 9.91 |
| 5 | Vishal Nahar HUF | 647500 | 6.28 | 647500 | 4.71 |
| 6 | Neetu Nahar | 1700000 | 16.5 | 864000 | 6.28 |
| 7 | Pradeep Kumar Agarwal | 39200 | 0.38 | 39200 | 0.28 |
| 8 | Encore Events Private Limited | 14000 | 0.14 | 14000 | 0.1 |
| 9 | Karnika Industries Limited | 98000 | 0.95 | 98000 | 0.71 |
| 10 | Somnath Modi | 98000 | 0.95 | 98000 | 0.71 |
| 11 | Neha Modi | 98000 | 0.95 | 98000 | 0.71 |
| 12 | Asish Purekha | 98000 | 0.95 | 98000 | 0.71 |
- The company is dependent on its suppliers for uninterrupted supply of Raw-Materials. Any shortfall in the supply of its raw materials, or an increase in the company's raw material costs and other input costs, may adversely affect the pricing and supply of its products with subsequently having an adverse effect on the business, results of operations and financial conditions of the company.
- The company's business is substantially dependent on certain key customers, from whom its derives a significant portion of the company's revenues. The loss of any significant customer may have a material and adverse effect on its business and results of operations.
- The company's cost of production is exposed to fluctuations in the prices of its major raw material, especially of fabrics.
- Significant portion of the company's revenue has been generated from Eastern & Southern part of India, any loss of business from these states may adversely affect its revenues and profitability.
- The company's business is both manpower and machine intensive. Its business may be adversely affected by strikes, work stoppages, increased wages demands by the company's employees, or any other kind of disputes with its employees, and if the company is unable to engage new employees at commercially attractive terms.
- The Company's operations requires significant amount of working capital for a continuing growth. Its inability to meet the company's working capital requirements may adversely affect its results of operations.
- Fraud, theft, employee negligence or similar incidents may adversely affect the company's results of operations and financial condition.
- The company is dependent on its Promoters, Directors and Key Managerial Personnel of the Company for success whose loss could seriously impair the ability to continue to manage and expand business efficiently.
- Trade Receivables forms a significant part of the company's current assets. Failures to manage its trade receivables could have an adverse effect on the company's sales, profitability, cash flow and liquidity.
- History of negative cash flows from operating activities may adversely affect the company's liquidity, financial condition and results of operations.
- There are certain delays in some of the company's corporate records relating to forms filed with the Registrar of Companies and other provision of Companies Act, 1956/2013. Any penalty or action taken by any regulatory authorities in future, for delay filing with provisions of corporate and other law could impact the financial position of the Company to that extent.
- The company is dependent on third party transport providers for the delivery of its raw material and Finished products. Accordingly, continuing increases in transportation costs or unavailability of transportation services for them, as well the extent and reliability of Indian infrastructure may have an adverse effect on the company's business, financial condition, results of operations and prospects.
- The company's income and sales is subject to seasonal fluctuations and lower income in a peak season may have a disproportionate effect on its results of operations.
- The company's high debt-to-equity ratio may affect its liquidity, the company's ability to service debt, and affect its overall financial position.
- The company has in the past entered into related party transactions and may continue to do so in the future.
- The company has taken guarantees from Promoters in relation to debt facilities provided to it.
- There have been several instances of delay in filing of GST, EPF and ESIC returns by the Company in the past.
- The company has filed application for the trademark registration but its may not be able to prevent unauthorized use of the company's intellectual property.
- The company's Promoters, Directors, Key Managerial Personnel and members of Senior Management are interested in the Company other than reimbursement of expenses or normal remuneration or benefits which may result in a conflict of interest with it.
- There are outstanding legal proceedings involving the Company. Any adverse decisions could impact its cashflows and profit or loss to the extent of demand amount, interest and penalty, divert management time and attention and have an adverse effect on the company's business, prospects, results of operations and financial condition.
- The company's business is dependent on its manufacturing facilities and the company is subject to certain risks in the company's manufacturing process. Obsolescence, destruction, theft, breakdowns of its machineries or failures to repair affect the company's business, cash flows, financial condition and results of operations.
- The company's business prospects and results of operations may be adversely affected if the company is unable to grow business in additional geographic regions or international markets.
- The Company is dependent on its Promoters and will continue to be controlled by the Promoters so long as they hold a majority of the Equity Shares.
- The company's business requires it to obtain and renew certain licenses and permits from government, regulatory authorities and the failures to obtain or renew them in a timely manner may adversely affect its business operations.
- Its contingent liabilities as stated in the company's Restated Financial Statements could adversely affect its financial condition.
- The Company has, in the past, filed certain forms relating to directors under categories that were not aligned with the applicable ROC classifications, and any regulatory observations in this regard may have an impact on the company's business and operations.
- There may be potential conflicts of interest between the Company and entities forming part of its Promoter Group or entities in which the company's Directors may be interested.
- The company does not hold any copyright or other forms of intellectual property protection in relation to the designs of its products.
- The company does not hold any patents or other form of intellectual property protection in relation to the company's manufacturing processes.
- The company has borrowed certain unsecured loans that may be payable on demand.
- The company has incurred indebtedness and an inability to obtain further financing or to comply with repayment and other covenants in the company's financing agreements could adversely affect its business, results of operations, financial condition and cash flows.
- The company's labor-intensive operations, along with its reliance on third-party contract labour particularly during peak periods may expose the company to operational disruptions and compliance obligations arising from workforce-related issues such as strikes, wages demands, or service dependencies.
- A portion of the Net Proceeds proposed to be utilized for repayment of certain loans will not result in the creation of any tangible assets.
- The company also sells the products through network of retailers. Any inability to effectively manage or expand retail network may have an adverse effect on business, results of operations and financial condition.
- The company may requires additional equity or debt in the future in order to continue to grow business, which may not be available on favourable terms or at all.
- The Objects of the Offer for which funds are being raised have not been appraised by any bank or financial institution.
- The Company may introduce new products that may not achieve commercial success, which could adversely affect the company's results of operations and financial condition.
- The company's business may faces increasing competition from online retailers that may impact its pricing ability and results of operations.
- The company has not commissioned an industry report for the disclosures made in the chapter titled "Industry Overview" and made disclosures on the basis of the data available from the online source.
- The price of securities issued by the company in the past 12 months may be lower than the offer price.
- The Company will not receive any proceeds from the Offer for Sale, and may not receive proceeds from the Offer.
- The average cost of acquisition of Equity Shares by the company's Promoters could also be lower than the Offer Price.
- The company's insurance coverage may not adequately protect it against all material hazards, which may adversely affect its business, results of operations and financial condition.
- Delays or defaults in customer payments could adversely affect the company's financial condition.
- Significant failures or disruption of the company's information technology systems could adversely impact its business, results of operations and financial condition.
- The company's existing manufacturing facilities are concentrated in a single region, i.e. Barasat, West Bengal. Any slowdown or disruption in the company's manufacturing operations in any of its manufacturing facilities could have a material and adverse impact on the company's business and operations.
- Inability to respond to evolving customer preferences may adversely impact the company's business.
- Political, economic or other factors that are beyond the company's control may have an adverse effect on its business and results of operations.
- The company's operations may be impacted by industrial accidents, physical hazards, or similar risks at its manufacturing premises, which could lead to operational disruption, financial loss, or reputational impact.
- The company's estimates and forward-looking statements may prove to be inaccurate, which could adversely affect investors' perception and decision-making.
- Underutilization of capacity of the company's manufacturing capacities and an ability to effectively utilize its expanded manufacturing capacities may adversely affect the company's business, future prospects and future financial performance.
- The company's ability to pay dividends in the future will depends on its earnings, financial condition, working capital requirements, capital expenditures and restrictive covenants of the company's financing arrangements.
- The company's manufacturing facility is subject to operating risks, and any disruption or shutdown may adversely impact its business, financial condition, and results of operations.
- The company has not made any alternate arrangements for meeting its regular working capital requirements. If the company is unable to manage/arrange funds (including at short notice) to meet its working capital requirements, there may be an adverse effect on the company's results of operations and financial performance.
- If the company is unable to source business opportunities effectively, its may not achieve the company's financial objectives.
- Hiring unskilled labour from third-party contract labour suppliers exposes it to the risk of operational inefficiencies, reduced product quality, and potential disruptions in business operations.
- The company is subject to stringent quality and delivery requirements, and any failures to comply with such standards may lead to order cancellations, reputational harm, and adverse financial consequences.
- The company's future success depends on its ability to build and promote the company's brands and protect its reputation. Any failures in these areas may affect the company's growth prospects.
- The highly competitive nature of the garment manufacturing industry, particularly due to the presence of numerous unorganized players, may result in pricing pressure, market share loss, and impact the company's profitability.
- NSE may not grant in-principle approval for listing of equity shares of the Company.
The Issue type of Fascinate Textiles Ltd is Book Building - SME.
The minimum application for shares of Fascinate Textiles Ltd is 1600.
The total shares issue of Fascinate Textiles Ltd is 4293600.
Initial public offering of upto 42,93,600 equity shares of face value of Rs. 10/- each ("Equity Shares") of Fascinate Textiles Limited ("The Company") for cash at a price of Rs. 151 per equity share (including share premium of Rs. 141 per equity share) ("Offer Price") aggregating to Rs. 64.83 Crores comprising a fresh issue of up to 34,57,600 equity shares aggregating up to Rs. 52.21 Crores by the company (the"Fresh Issue") and an offer for sale of up to 8,36,000 equity shares aggregating up to Rs. 12.62 Crores by the company promoter's group selling shareholder, (The "Offered Shares") (The "Offer For Sale" and together with the fresh offer, the "Offer") of which upto 2,15,200 equity shares aggregating to Rs. 3.25 Crores will be reserved for subscription by market maker to the offer (the "Market Maker Reservation Portion"). The offer less market maker reservation portion i.e., offer of upto 40,78,400 equity shares at an offer price of Rs. 151 per equity share aggregating to Rs. 61.58 Crores is hereinafter referred to as the "Net Offer". The offer and the net offer will constitute 31.20% and 29.64%, respectively of the post issue paid up equity share capital of the company.
Price Band: Rs. 151 per equity share of face value of Rs. 10/- each.
The floor price is 15.1 times the face value of the equity shares.
Bids can be made for a minimum of 1,600 equity shares and in multiples of 800 equity shares thereafter.