IPO Details
RHP/DRHPIssue Date
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IPO Size
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Schedule of Game Changers Texfab IPO
Start date
End date
Allotment of bids
Refund Initiation
Listing on exchange
About Game Changers Texfab IPO
The IPO of Game Changers Texfab Ltd is a 100% book-built issue. It comprises only a fresh issue of up to 53,76,000 equity shares. There’s no offer for sale.
Objectives of Game Changers Texfab IPO
- Working capital requirements
- Capital expenditure
- General corporate purposes and unidentified inorganic acquisitions
Game Changers Texfab IPO Valuation
Game Changers Texfab Share Offer and Subscription Details
| Investor Category | Shares Offered |
|---|---|
QIBs | Not more than 50% of the offer |
Non-institutional Investors | Not less than 15% of the net offer |
Retail Individual Investors | Not less than 35% of the net offer |
Industry Outlook
The future of the Indian textiles industry looks promising, buoyed by strong domestic consumption as well as export demand. The technical textiles market for automotive textiles is projected to increase to US$ 3.7 billion by 2027, from US$ 2.4 billion in 2020.
Similarly, the industrial textiles market is likely to increase at an 8% CAGR from US$ 2 billion in 2020 to US$ 3.3 billion in 2027. The overall Indian textiles market is expected to be worth more than US$ 209 billion by 2029.
Company Information
Game Changers Texfab Ltd is engaged in finding the finest fabric material as per customer specifications and sourcing them from the right suppliers, ensuring the right material solutions. ‘Sourcing of Fabrics’ refers to the process of selecting and procuring raw materials for textile production, which includes identifying suppliers, negotiating prices, and ensuring the quality and sustainability of the fabrics.
The company deals with a variety of fabrics but specialises in women's wear fabrics and technical textiles fabrics, including outdoor and PVC-coated fabrics for a variety of uses such as awnings, outdoor furniture upholstery, tarpaulins, sports goods, tents, etc.
Strengths of Game Changers Texfab IPO
Deemed Manufacturing
The company currently has six deemed manufacturing units which strengthens its operations allowing it to leverage external production capacities while maintaining control over quality and reducing overhead costs. Operating on a deemed manufacturing model also supports an asset-light approach, minimising capital investments while ensuring flexibility and scalability in production.
International Tie-ups
The company has formed strategic tie-ups with two international companies to source and supply high-quality technical fabrics. These partnerships help it meet the growing demands of Indian buyers for advanced textiles, expanding product offerings and staying competitive in a specialised market.
Technology Integration
The company leverages technology to facilitate visual search of fabric, solutions combining size recommendation and virtual try-on where in the customers receive photorealistic outputs that truly reflect their size, shape, and appearance so they know exactly how an item will look and fit on their body in order to streamline the selection process for customers. This technological approach ensures that customers receive the right fabrics as per their need and choices.
Designer On-boarding Initiative
On-board experienced designers with over five years of expertise to create exclusive collections. This initiative diversifies Game Changers’ product range, ensuring high-quality and unique designs that reflect the company’s commitment to excellence and innovation in the fashion industry.
Risks of Game Changers Texfab IPO
- Customer Concentration Risk
Game Changers Texfab Ltd’s top customers contribute a significant portion in the revenue of the company. Any loss of business from one or more of them may adversely affect its revenues and profitability.
- Dependence on Key Suppliers
The company’s top suppliers contribute the majority of its purchases. Any loss of business with one or more of them may adversely affect its business operations and profitability.
- No Long-term Contracts
The company has not entered into any long-term contracts with any of its customers and it typically operates on the basis of purchase orders. Inability to maintain regular order flow would adversely impact its revenues and profitability.
Game Changers Texfab Financials
Peer Comparison
| Company Name | EPS in ₹ | Return on Net Worth | NAV per Share in ₹ |
|---|---|---|---|
Game Changers Texfab Ltd | 1367.08 | 62.73 | 2862.53 |
TT Ltd | 2.15 | 6.45 | 33.39 |
Bhandari Hosiery Ltd | 0.4 | 6.56 | 6.46 |
IPO Registrar and Book Running Lead Managers
- IPO Registrar: Skyline Financial Services Private Ltd
- Book Running Lead Manager: Corpwis Advisors Private Ltd
Business Model
Game Changers Texfab Ltd has two brands TradeUNO and Fall in Love. TradeUNO was established in 2015, offering a diverse range of premium fabrics to businesses as well as retail customers. In 2024, the company launched its new brand, “Fall in Love”, which focuses on Ready-made and Made-to-measure garments along with customisation options and Value-added services, ensuring that each garment is tailored to meet the unique preferences of its customers.
Company Growth Trajectory
The company’s PAT margin increased to 4.36% in FY 24 from 0.41% in FY 22. Its EBITDA margin as of revenue from operations jumped from 2.23% in FY 22 to 6.87% in FY 24.
Market Position
Incorporated in 2015 as a private limited company, Game Changers Texfab Ltd manages a network of over 10 sourcing offices, ensuring access to a range of daily as well as premium fabrics at competitive prices. It has two comprehensive retail experience stores which double up as sampling centres through which it offers a wide range of fabric materials.
Apart from its offline presence, the company also has its online platform, featuring over 10,000 designs and a network of 500+ diverse suppliers, to support export houses, boutiques in creating unique samples for its clientele.
Game Changers Texfab Profit and Loss
| Parameter | FY 24 | FY 23 | FY 22 |
|---|---|---|---|
Total Income (in ₹ crores) | 97.8634 | 100.5784 | 35.1373 |
Profit Before Tax (in ₹ crores) | 5.7171 | 0.6074 | 0.1995 |
Profit After Tax (in ₹ crores) | 4.2672 | 0.5276 | 0.1452 |
EPS in ₹ | 1367.08 | 169.02 | 47.16 |
EBITDA | 6.7265 | 1.2592 | 0.7820 |
Game Changers Texfab Balance Sheet
| Parameter | FY 24 | FY 23 | FY 22 |
|---|---|---|---|
Profit Before Tax (in ₹ crores) | 5.7147 | 0.6065 | 0.1993 |
Net Cash Outflow from Operating Activities (in ₹ crores) | 2.5534 | (1.8349) | (0.4142) |
Net Cash Outflow from Investing Activities (in ₹ crores) | (0.6605) | (0.0374) | (0.025) |
Net Cash Outflow from Financing Activities (in ₹ crores) | (1.8309) | 1.8875 | 0.4659 |
Cash and Cash Equivalents at the End of the Year (in ₹ crores) | 0.1355 | 0.0734 | 0.0582 |
How to Check Allotment Status of Game Changers Texfab IPO?
Visit the Registrar’s Website
- Visit the official website of Skyline Financial Services Pvt Ltd
- Choose ‘Public Issue’ from ‘Investor’ dropdown
- Select the Name of the Company from dropdown
- Enter either your ‘Application No’, PAN or DP ID / Client ID
- Click on ‘Search’ to know the status
Check on the Bombay Stock Exchange Website
The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to www.bseindia.com and find the 'Investor Services' tab. Under 'Investors Services', click on 'Status of Issue Application'. This will take you to the IPO allotment status page. On the BSE IPO page, follow these steps:
- Choose the Issue Type
- Select the Issue Name from dropdown
- Put in either your application number or PAN number
- Check the box ‘I’m not a robot’
- Click on ‘Search’ to know allotment status
How to Apply for Game Changers Texfab IPO?
To apply for this IPO:
- Step 1: Log in to your Kotak Securities Demat account: Log in to your Demat account to access IPO investments. Next, select the current IPO section.
- Step 2: Specify IPO details: Enter the number of lots and the price you wish to apply for.
- Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.
- Step 4: Mandate Notification: Your UPI app will receive a mandate notification to block funds.
- Step 5: Approve Request Your funds will be blocked once you approve the mandate request on your UPI.
This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI-prescribed Combined Risk Disclosure Document before investing. Brokerage will not exceed SEBI’s prescribed limit.
Game Changers Texfab IPO FAQs
Where can I read more about Game Changers Texfab business?
You can read more about Game Changers Texfab and its IPO from the company’s red herring prospectus (RHP) here.
What is the Game Changers Texfab IPO?
The IPO of Game Changers Texfab Ltd consists entirely of fresh issue of up to 53,76,000 equity shares.
When will the IPO of Game Changers Texfab go live?
The exact dates of the IPO is yet to be announced
Who is the MD of Game Changers Texfab Ltd IPO?
Sanjeev Goel is the MD of Game Changers Texfab Ltd.
