New Delhi, October 28 (Daily Kiran)। The ₹54.84 crore initial public offering (IPO) of Game Changers Texfab opened for public subscription today. Investors can apply for the issue until October 30, 2025. After the issue closes, share allotment will take place on October 31, and the credited shares will reflect in demat accounts by November 3. The company’s shares are scheduled to list on the BSE SME platform on November 4.
The IPO price band has been set between ₹96 and ₹102 per share, with a lot size of 1,200 shares. Retail investors are required to apply for a minimum of two lots (2,400 shares), amounting to an investment of ₹2,44,800. The offering includes 53,76,000 fresh equity shares.
A day before the IPO opened, on October 27, the company raised ₹9.13 crore from anchor investors. Among them, Sent Capital Fund was the largest participant, investing over ₹4 crore. Other key investors in the anchor book include Meru Investment Fund, Velos Opportunities Fund, and CP Capital Limited.
In the IPO structure, 47.46% of the shares are reserved for Qualified Institutional Buyers (QIBs), 33.26% for retail investors, 14.26% for Non-Institutional Investors (NIIs), and 5.02% for the market maker. Corpvis Advisors Pvt. Ltd. is the book running lead manager, Skyline Financial Services Pvt. Ltd. is the registrar, while NNM Securities Pvt. Ltd. serves as the market maker.
According to the company’s prospectus, Game Changers Texfab’s financial performance has shown steady improvement. Its net profit rose from ₹53 lakh in FY 2022-23 to ₹4.27 crore in FY 2023-24, and further surged to ₹12.07 crore in FY 2024-25. During the same period, total revenue moved from ₹100.58 crore in FY 2022-23 to ₹97.86 crore in FY 2023-24, before climbing to ₹115.59 crore in FY 2024-25. In the first quarter of FY 2025-26 (April–June 2025), the company recorded a net profit of ₹4.27 crore and revenue of ₹24.11 crore.
The company’s debt levels fluctuated over the years — from ₹6.46 crore in FY 2022-23, reducing to ₹5.54 crore in FY 2023-24, then slightly rising to ₹5.66 crore in FY 2024-25, and further increasing to ₹9.88 crore in the first quarter of FY 2025-26.
Similarly, reserves and surplus showed moderate growth — from ₹4.64 crore in FY 2022-23 to ₹8.90 crore in FY 2023-24, slightly dipping to ₹8.49 crore in FY 2024-25, before improving to ₹12.76 crore by June 2025. The company’s EBITDA also grew sharply from ₹1.26 crore in FY 2022-23 to ₹6.73 crore in FY 2023-24, and further to ₹18.59 crore in FY 2024-25, reaching ₹6.05 crore in the first quarter of FY 2025-26.
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
