Fascinate TextilesNSE SME / BSE SME:
Analyzed by ViewIPO Financial Research Team
Textiles & ApparelIndia•Filed 2026-08-11•Listing 2026-08-18•Size ₹67.23Cr •Lot Size 800
The total amount of money the company is trying to raise from the public through this IPO.
The minimum number of shares an investor must bid for in an IPO.
Live GMP
Grey Market Premium. The extra amount buyers are willing to pay for the IPO shares in the unofficial market before listing.
₹0 (0%)
Subscription
How many times the IPO has been demanded by investors. E.g., 10x means investors want 10 times more shares than available.
0.02x Total
Is Fascinate Textiles IPO Good? Quick Verdict
Fascinate Textiles IPO scored 76/100 (Moderate Risk) in our deep analysis. The strongest pillar is Financial at 92/100, while Competition is the primary concern at 55/100. Fascinate Textiles Limited shows significant revenue and margin expansion backed by an integrated manufacturing setup, though high customer concentration and SME valuation multiples warrant careful evaluation.
IPO Score
76/100
Moderate Risk
Quick Verdict
Impressive financial trajectory with annualised EBITDA margin of 20.63% and PAT margin of 12.87% in FY26.
Integrated manufacturing infrastructure in Barasat with ISO 9001:2015 quality control processes.
High customer concentration risk where loss of key clients could severely impact operations.
Dependence on external job workers for knitting and dyeing operations exposes production to third-party disruptions.
Company Snapshot
Revenue (TTM)
₹117.08Cr↑ 94.36% YoYTotal money brought in by the company's operations before deducting any expenses.
Profitability
PositiveNet Income ₹15.07CrThe company's total profit after all expenses, taxes, and costs have been deducted.
Gross Margin
— Market Cap (Post-IPO)
₹63.6CrAt upper band ₹156The total value of all the company's shares combined. It shows the overall size of the company.
IPO Size
₹67.23Cr The total amount of money the company is trying to raise from the public through this IPO.
Industry
Textiles & Apparel P/E Ratio
36.97xValuation MultiplePrice-to-Earnings. How much you pay for ₹1 of company profit. A high P/E might mean the stock is expensive.
Return on Equity
47.93%ProfitabilityReturn on Equity. Shows how efficiently the company generates profit using the shareholders' money.
Debt to Equity
0.83xLeverageShows how much debt the company has compared to its own funds. >1 means more debt than equity.
Risk Breakdown
Governance
60
Moderate
Financial
92
Excellent
Valuation
80
Excellent
Competition
55
Expensive
Dilution
80
Excellent
Promoter / Mgmt
90
Excellent
AI Summary
Fascinate Textiles Limited is a West Bengal-based readymade garment manufacturer specializing in menswear, womenswear, and childrenswear. The company operates primarily through an order-driven production model with integrated in-house capabilities for cutting, printing, stitching, and finishing at its Barasat facility. Fascinate Textiles Limited has demonstrated substantial top-line and bottom-line growth, with revenue expanding to ₹60.24 Crores in FY25 and annualizing to ₹117.08 Crores in FY26. However, potential investors should consider risk factors including customer concentration and dependence on external third parties for knitting and dyeing operations.
Overall Verdict: Fascinate Textiles Limited shows significant revenue and margin expansion backed by an integrated manufacturing setup, though high customer concentration and SME valuation multiples warrant careful evaluation.
Key Highlights
- •Fascinate Textiles Limited manufactures readymade garments for men, women, and children with a major focus on kidswear.
- •Operates an order-driven business model commencing production post sample approval and confirmed purchase orders.
- •Manufacturing facility located in Barasat, North 24 Parganas, West Bengal, near major transit and port infrastructure.
- •Integrated processes in-house including cutting, printing, stitching, and finishing with automated machinery.
- •Total issue size of ₹66.99 Crores comprising a fresh issue of ₹53.94 Crores and an OFS of ₹13.05 Crores.
- •Net proceeds earmarked for capital expenditure for new manufacturing unit, working capital, and debt repayment.
Financial Performance
Revenue (Annual) Total money brought in by the company's operations before deducting any expenses.
↑ +94.4% YoYTotal money brought in by the company's operations before deducting any expenses.
INR in Crores
Net Income (Annual) The company's total profit after all expenses, taxes, and costs have been deducted.
↑ +86.5% YoYThe company's total profit after all expenses, taxes, and costs have been deducted.
INR in Crores
EBITDA vs PAT Earnings Before Interest, Taxes, Depreciation, and Amortization. Shows pure operating performance.
↑ +136.5% YoYEarnings Before Interest, Taxes, Depreciation, and Amortization. Shows pure operating performance.
INR in Crores
EBITDA PAT
IPO Timeline
IPO Opens2026-08-11
IPO Closes2026-08-13
Basis of Allotment2026-08-14
Refunds & Demat2026-08-15
Listing Date2026-08-18
Valuation Analysis
IPO Price₹148 - ₹156
Estimated Fair Value Pending Data
The theoretical true worth of the company based on its financial performance and peers.
Valuation Premium Pending
How much more expensive this IPO is compared to its estimated fair value or its industry peers.
vs Fair Value
IPO DNA
Growth 74
Evaluates the company's historical and projected revenue and profit expansion.
Governance 60
Assesses the quality, transparency, and track record of the company's management team.
Profitability 92
Measures how effectively the company turns its sales into actual profit.
Valuation 80
Analyzes whether the IPO price is cheap, fair, or expensive compared to peers.
Competition 55
Evaluates the company's market share, moats, and competitive threats in its industry.
Execution 90
Assesses the company's ability to successfully utilize IPO proceeds and deliver on its promises.
Pros vs Cons
Pros
- Integrated manufacturing setup carrying out cutting, printing, stitching, and finishing in-house.
- Order-driven production strategy minimizing excess unsold inventory and optimizing working capital.
- Robust capital efficiency metrics with ROE of 47.93% and ROCE of 54.82%.
- Strong growth trajectory in top-line revenue from ₹28.88 Cr in FY24 to ₹117.08 Cr (annualized) in FY26.
Cons
- High concentration of revenue among key B2B clients.
- Outsourcing of core knitting and dyeing operations to third-party job workers.
- Vulnerability to raw material price volatility and changing consumer preferences in fashion.
Financial Health
Revenue Growth108.6% YoY growth from FY24 to FY25 (Excellent)
The year-over-year percentage increase in the company's total sales.
Debt LevelDebt-to-Equity ratio of 0.83 (Good)
An assessment of whether the company's borrowing is manageable or risky.
Institutional Signals
Anchor InvestorsYes
Large institutional investors who buy shares before the IPO opens to the public, signaling confidence.
VC Backing TierNone
Whether renowned Venture Capital or Private Equity firms have invested in the company.
Founder Ownership78.64%
The percentage of the company still owned by its original founders after the IPO.
Strategic PartnersTier 3
Key business alliances that give the company a competitive edge.
Fascinate Textiles IPO — Frequently Asked Questions
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Source Citation: All financial data and risk metrics are derived from the official prospectus filed with the regulator (SEBI DRHP/RHP). ViewIPO algorithms process this public data for informational purposes. Not financial advice.
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