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Complete Sports and Management India (CSML) operates in the amusement and leisure solutions sector, which can be influenced by discretionary consumer spending and economic cycles. The company’s expansion plans, including the setup of new entertainment centers and capital expenditure on equipment, will require ongoing investment and carry execution risks. Reliance on specific brands, such as its authorization for Brunswick Bowling products, could also pose a risk if these relationships are impacted. Financial performance shows growth, but sustainability of margins and profitability in a competitive market will be key factors. The company’s debt-to-equity ratio has seen fluctuations, and its ability to manage leverage effectively post-IPO will be under scrutiny.
Complete Sports and Management India (CSML), a provider of amusement and leisure solutions, is set to launch its Initial Public Offering (IPO) on the BSE SME platform. The company, which specializes in the sourcing, distribution, installation, commissioning, and maintenance of entertainment equipment, will open its offer for subscription from August 28 to September 1, 2026.
CSML’s product portfolio encompasses a wide range of leisure offerings, including bowling solutions, arcade and redemption games, soft play areas, trampoline parks, laser tag, bumper cars, and go-karting systems. The company also provides cashless gaming solutions and related spares and accessories. Its client base includes family entertainment centers, hotels, resorts, clubs, malls, corporate clients, and residential developments, to whom it offers customized solutions.
The IPO will consist of a fresh issue of 5,550,000 shares, aiming to raise between INR 71.04 crore and INR 74.93 crore. There will be no Offer for Sale component. The issue price is set in the band of INR 128 to INR 135 per share. The minimum bid will be for 2,000 shares, translating to a minimum investment of INR 270,000.
Proceeds from the IPO are earmarked for several key objectives. A significant portion, INR 39.88 crore, will fund capital expenditure requirements for the purchase of gaming equipment and other capital assets for its warehouse in Bhiwandi, Maharashtra. An additional INR 8.09 crore is allocated for setting up a new ‘Duckpin The Bowling Bistro’ entertainment center in Mumbai. The company also plans to use INR 11.50 crore for the repayment or prepayment of outstanding borrowings and the remainder for general corporate purposes.
CSML, promoted by Rohit Rajesh Mathur, Abha Rohit Mathur, and Rohan Rohit Mathur, has demonstrated financial growth. For the fiscal year ended March 2026, the company reported revenue of INR 117.09 crore and a net income of INR 18.18 crore, reflecting a notable increase from INR 110.35 crore in revenue and INR 11.41 crore in net income for FY 2025. The net profit margin also improved to 15.53% in FY 2026 from 10.34% in FY 2025.
The IPO category allocation includes 50% for Qualified Institutional Buyers (QIB), 15% for High Net-worth Individuals (HNI) or Non-Institutional Investors (NII), and 35% for retail investors. The company has appointed SMART HORIZON CAPITAL ADVISORS PRIVATE LIMITED as the lead manager, and BIGSHARE SERVICES PRIVATE LIMITED as the registrar for the issue.
The anchor investor bidding date is set for August 27, 2026. The IPO is scheduled to list on the BSE SME platform on September 4, 2026. CSML also operates company-owned entertainment formats like All Sett Go and Duckpin The Bowling Bistro, signifying a strategy of forward integration.
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