Game Changers Texfab
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Grey market premium
Unofficial and indicative — not a forecast
3 observations recorded — too few to plot a trend.
Day-wise premium · 3 observations
| Date | GMP | % | Sauda | Est. listing | Gain / lot |
|---|---|---|---|---|---|
| 04 Nov 2025 | ₹0 | 0.00% | ₹0 | ₹102 | ₹0 |
| 03 Nov 2025 | ₹0 | 0.00% | ₹0 | ₹102 | ₹0 |
| 01 Nov 2025 | ₹0 | 0.00% | ₹0 | ₹102 | ₹0 |
Gain per lot assumes the premium holds to listing and that the application is allotted — allotment in an oversubscribed issue is a lottery, so it is indicative, not expected. Sauda is the rate paid for a submitted application itself.
Issue details
- IPO date
- 28 Oct 2025 – 30 Oct 2025
- Listing date
- 04 Nov 2025
- Face value
- ₹1 per share
- Issue price
- ₹102 per share
- Lot size
- 1,200 shares
- Issue type
- Book Building issue
- Listing at
- BSE
- Total issue size
- ₹54.84 Cr
- Market cap at offer price
- ₹183 Cr
- Promoter holding
- 98.67% → 69.01% pre-issue → post-issue
- ISIN
- INE1GUJ01014
- Registrar
- Skyline Financial Services Pvt.Ltd.
- Lead managers
- Corpwis Advisors Pvt.Ltd.
- Registered office
- 3656-P NO-21, Hathi Khanna, Bahadur Garh Road, New Delhi
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 8,95,200 | — | — |
| Market maker | 2,70,000 | — | — |
Application size
Minimum 1,200 shares per lot, in multiples, at ₹102
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,200 | ₹1,22,400 |
| S-HNI (min) | 2 | 2,400 | ₹2,44,800 |
| S-HNI (max) | 8 | 9,600 | ₹9,79,200 |
| B-HNI (min) | 9 | 10,800 | ₹11,01,600 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
₹102 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 9.64 | 9.54 |
| P/E (×) | 10.58 | 10.69 |
| Price to book (×) | 6.08 | — |
| Market cap | — | ₹183 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 80.59%
- ROCE
- 65.97%
- Debt / equity
- 0.27
- PAT margin
- 10.44%
- EBITDA margin
- 16.09%
- NAV per share
- ₹16.78
- Price to book
- 6.08
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Game Changers Texfab
Incorporated on April 6, 2015 as Game Changers Texfab Private Limited in Delhi and converted into a public limited company (renamed Game Changers Texfab Limited) following an EGM on October 8, 2024 with a fresh certificate dated December 2, 2024, the company is engaged in finding the finest fabric material as per customer specifications and sourcing it from the right suppliers. It deals in a variety of fabrics but specializes in women's wear fabrics and technical textiles fabrics, including outdoor and PVC-coated fabrics used for awnings, outdoor furniture upholstery, tarpaulins, sports goods and tents, operating under the TradeUNO brand from a registered office in Delhi, a corporate office and two retail stores in Gurugram, supported by deemed manufacturing units in Delhi, Maharashtra, Bihar and Uttar Pradesh for bulk customisation, value additions and made-to-measure garments. It earns money mainly by selling fabrics — predominantly offline to B2B customers (offline sales were 99.20% of fabric sales in FY2025 vs 0.80% online) — and acts as the exclusive India partner for two Chinese manufacturers, Haining Hongliang Chemical Fiber Company (PVC fabrics) and Suzhou Pinzheng Textile Garment Company Limited (outdoor fabrics). In FY2025 it reported revenue from operations of ₹11,556.31 lakhs, EBITDA of ₹1,859.17 lakhs (16.09% margin) and PAT of ₹1,206.51 lakhs, and plans to open six new stores (Chandigarh, Lucknow, Noida, Ahmedabad, Delhi and Pune) partly funded by IPO proceeds.
Company Analysis
from RHPGame Changers Texfab Limited is a Delhi-based fabric sourcing and trading company (operating under the TradeUNO brand) that finds and supplies fabric material to customer specifications, specializing in women's wear fabrics and technical textiles such as outdoor and PVC-coated fabrics, spanning the textiles, apparel-fabrics and technical-textiles industries.
Incorporated on April 6, 2015 as Game Changers Texfab Private Limited in Delhi and converted into a public limited company (renamed Game Changers Texfab Limited) following an EGM on October 8, 2024 with a fresh certificate dated December 2, 2024, the company is engaged in finding the finest fabric material as per customer specifications and sourcing it from the right suppliers. It deals in a variety of fabrics but specializes in women's wear fabrics and technical textiles fabrics, including outdoor and PVC-coated fabrics used for awnings, outdoor furniture upholstery, tarpaulins, sports goods and tents, operating under the TradeUNO brand from a registered office in Delhi, a corporate office and two retail stores in Gurugram, supported by deemed manufacturing units in Delhi, Maharashtra, Bihar and Uttar Pradesh for bulk customisation, value additions and made-to-measure garments. It earns money mainly by selling fabrics — predominantly offline to B2B customers (offline sales were 99.20% of fabric sales in FY2025 vs 0.80% online) — and acts as the exclusive India partner for two Chinese manufacturers, Haining Hongliang Chemical Fiber Company (PVC fabrics) and Suzhou Pinzheng Textile Garment Company Limited (outdoor fabrics). In FY2025 it reported revenue from operations of ₹11,556.31 lakhs, EBITDA of ₹1,859.17 lakhs (16.09% margin) and PAT of ₹1,206.51 lakhs, and plans to open six new stores (Chandigarh, Lucknow, Noida, Ahmedabad, Delhi and Pune) partly funded by IPO proceeds.
Objects of the Issue
- Funding working capital requirements ₹ 2,550.00 lakhs p.98
- Funding capital expenditure towards construction of new stores (six new stores) ₹ 1,500.00 lakhs p.95
- General corporate purposes and unidentified inorganic acquisitions p.100
Issue Structure
- Total Issue
- Up to 53,76,000 Equity Shares aggregating up to ₹ [●] lakhs
- Fresh Issue
- Up to 53,76,000 Equity Shares aggregating up to ₹ [●] lakhs
- Offer for Sale
- Not Applicable, as this is a Fresh Issue of Equity Shares.
- Price Band
- ₹ 96.00 (Floor Price) to ₹ 102.00 (Cap Price) per Equity Share
- Lot Size
- Minimum Bid Lot of 2,400 Equity Shares and in multiples of 1,200 Equity Shares thereafter
- Face Value
- ₹ 10 each
Business Model
The Company earns revenue primarily from the sale of fabrics sourced per customer specifications from its supplier network, supplemented by margins on imported PVC and outdoor fabrics distributed exclusively in India for two Chinese manufacturers, with value added through deemed manufacturing units performing bulk customisation, value additions and made-to-measure garments; sales are predominantly B2B/offline (~99% of fabric sales) with a small online channel (~1%).
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mr. Sanjeev Goel | Promoter | 0.0032% | 0.002% |
| Mr. Ankur Aggarwal | Promoter | 0.0032% | 0.002% |
| Force Multiplier Ecommerce Private Limited | Corporate Promoter | 98.66% | 69.01% |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.