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Complete Sports and Management India

• Complete Sports and Management India is coming out with an initial public offering (IPO) of 55,50,000 shares in a price band of Rs 128 - 135 per equity share.
• The issue will open for subscription on August 28, 2026 and will close on September 01, 2026.
• The shares will be listed on SME Platform of BSE.
• The face value of the share is Rs 10 and is priced 12.80 times of its face value on the lower side and 13.50 times on the higher side.
• Book running lead manager to the issue is Smart Horizon Capital Advisors.
• Compliance officer for the issue is Manali Jain.

Profile of the company

Complete Sports and Management India is engaged in the business of sourcing, trading and distribution of a diversified portfolio of amusement and leisure equipment. It also provides installation, commissioning, maintenance and related advisory and consulting services. It operates across the amusement, entertainment and leisure infrastructure value chain and provides solutions to customers for the development and operation of entertainment destinations. 

It procures amusement and entertainment equipment from domestic and international manufacturers and suppliers for distribution and installation in India and overseas. Its customer base includes family entertainment centres (FECs), clubs, hotels, resorts, corporate clients and residential developments. Its product portfolio comprises bowling solutions, arcade games, soft play areas and indoor play structures, trampoline parks, laser tag systems, bumper cars, go-karting systems, debit card and cashless gaming systems, as well as related spares, consumables and accessories. It also provides customised amusement and entertainment solutions based on the specific requirements of its customers, including considerations relating to available space, budget, operational requirements and target demographics. 

The company is the authorised distributor of Brunswick Bowling products LLC in India, Singapore, Malaysia and Indonesia. It entered into a distributorship agreement with Brunswick Bowling & Billiards Corporation for the territory of India on January 1, 2010, pursuant to which it was appointed as its authorised distributor in India. Subsequently, on August 28, 2025, its distributorship was expanded to include the territories of Singapore, Malaysia and Indonesia, further strengthening its presence across South and Southeast Asia. Through this strategic association with Brunswick Bowling products LLC, it provides comprehensive bowling solutions, including design and layout consultation, supply, installation, commissioning, lane servicing, preventive and corrective maintenance, scoring systems integration, spare parts management and technical support for both traditional and duckpin bowling formats. Its bowling solutions cater to a diverse customer base, including bowling centres, family entertainment centres, clubs, hotels, shopping malls and integrated leisure and entertainment destinations.

Proceed is being used for:

• Funding the capital expenditure requirements of the company towards the purchase of gaming equipment and other capital equipment, including computers, printers and software, equipment and tools, and CCTV and safety equipment, for its existing warehouse located at Bhiwandi, Maharashtra.
• Funding the capital expenditure requirements of the company towards the setting up of the ‘Duckpin - The Bowling Bistro’ entertainment centre in Mumbai, Maharashtra.
• Repayment and/or prepayment, in full or in part, of certain outstanding borrowings availed by the company from banks and financial institutions.
• Meeting general corporate purposes.

Industry overview

Indoor Amusement Centers (IACs) are organized, indoor leisure and entertainment facilities designed to offer a wide range of recreational experiences within a controlled and weather-independent environment. Typically located within shopping malls, mixed-use developments, or standalone urban facilities, IACs cater to diverse age groups, including children, teenagers, families, and young adults. Their core objective is to provide safe, immersive, and repeat-visit entertainment, making them an important component of modern urban leisure infrastructure. From a services perspective, Indoor Amusement Centers provide paid entertainment access through multiple formats, such as time-based play passes, pay-per-use rides, memberships, and group packages. Services often extend beyond pure play to include birthday party hosting, school and corporate group bookings, curated food and beverage offerings, and retail or redemption counters. Increasingly, IACs also integrate technology-enabled experiences such as virtual reality (VR), augmented reality (AR), interactive gaming, and digital ticketing systems to enhance customer engagement and operational efficiency. 

The Indian indoor amusement center market has transitioned from a niche entertainment segment to a more organized and scalable leisure industry over recent years. The sector has benefited from increasing formalization of entertainment formats, improved safety and quality standards, and greater participation from organized operators and real estate developers. Indoor amusement centers are increasingly positioned as professionally managed leisure assets with standardized offerings, clearer monetization models, and growing acceptance across urban consumer segments, supporting steady and sustained market expansion. 

The market size increased from Rs 34.8 billion in FY 2021 to Rs 50.9 billion in FY 2025, registering a CAGR of 10.0% over the period. Year-on-year growth remained consistent, with the market expanding to Rs 37.9 billion in FY 2022, Rs 41.3 billion in FY 2023, and Rs 45.0 billion in FY 2024, reflecting a gradual recovery and scale-up phase. The steady progression in market value indicates improving capacity utilization, higher revenue realization per center, and increased rollout of new formats, rather than short-term or volatile growth patterns. The market is projected to grow from Rs 50.9 billion in FY 2025 to Rs 93.7 billion by FY 2030, implying a CAGR of 13.0% over FY 2025-30. Annual market additions are expected to accelerate in absolute terms-from Rs 6.6 billion between FY 2025 and FY 2026 to nearly Rs 10.8 billion between FY 2029 and FY 2030-indicating increasing scale and momentum as the industry matures.

Pros and strengths

Exclusive distributorship for Brunswick Bowling products in India: It is an authorised distributor of Brunswick Bowling Products LLC in India, Singapore, Malaysia and Indonesia. It entered into a distributorship agreement with Brunswick Bowling Products LLC on January 1, 2010, pursuant to which it was appointed as its authorised distributor for India. Subsequently, on August 28, 2025, the scope of its distributorship was expanded to include Singapore, Malaysia and Indonesia. This expansion has enabled it to extend its distribution and project execution capabilities across additional markets in South and Southeast Asia. Through its association with Brunswick Bowling Products LLC, it provides comprehensive bowling solutions covering design and layout consultation, equipment supply, installation, commissioning, lane servicing, preventive and corrective maintenance, scoring systems integration, spare parts management and technical support for both traditional and duckpin bowling formats.

Comprehensive end-to-end amusement and entertainment solutions platform: It operates as an integrated provider of amusement and leisure solutions, with capabilities spanning multiple stages of an entertainment project, including sourcing, distribution, installation, testing and commissioning, operations management, maintenance and advisory and consulting services. Its business is principally organised across two verticals: i) distribution, supply and installation of amusement and entertainment solutions; and ii) consultancy and management services. Under its distribution, supply and installation vertical, it sources and distributes a diversified portfolio of amusement and entertainment equipment to a range of customers, including club houses, corporate clients, family entertainment centres (FECs), hotels, residential complexes and resorts. Under its consultancy and management services vertical, it provides advisory and consulting services and undertakes management contracts relating to the establishment and operation of entertainment facilities.

Experience across diverse leisure and hospitality segments: It has developed experience in catering to customers across a diversified range of segments within the leisure and hospitality industry, including club houses, corporate clients, family entertainment centres, hotels, residential complexes and resorts. Its experience across these segments has enabled it to develop an understanding of varying customer requirements, operating environments, space configurations, customer profiles and project-specific considerations, which supports its ability to provide solutions aligned with the requirements of different customer segments.

Risks and concerns

Significant revenue derives from Brunswick bowling equipment: It is the exclusive distributor of Brunswick bowling product LLC in certain jurisdictions, and revenues generated from Brunswick bowling equipment accounted for 50.21%, 34.42% and 50.67% of its revenue from operations for the Fiscal 2026, Fiscal 2025 and Fiscal 2024 respectively. Any loss of exclusivity, deterioration in its relationship with Brunswick, or disruption in the supply of Brunswick products could materially and adversely affect its business, financial condition, results of operations and cash flows.

Business substantially dependent on demand from family entertainment centres: Its business is substantially dependent on demand from family entertainment centres, which accounted for 87.47%, 73.77% and 78.70% of its revenue from operations for the Fiscal 2026, Fiscal 2025 and Fiscal 2024 respectively, and on its ability to maintain long-term relationships with customers in its key end-user segments. Any adverse developments affecting such customer segments or relationships could materially and adversely affect its business, financial condition, results of operations and cash flows.

Complete Sports and Management India is engaged in the business of trading of amusement equipment and services regarding installation, testing & commissioning, operations & maintenance, consulting and technical support. It has established and maintained business relationships with several internationally recognized manufacturers and suppliers of amusement and entertainment equipment, including Brunswick Bowling Products LLC, Baohui, Coastal Amusements Inc., Elaut NV, Intercard Inc., Komuse America Inc., Bandai Namco and Sega. These relationships enable it to access a diversified range of amusement and entertainment equipment sourced from manufacturers across multiple jurisdictions. On the concern side, a substantial portion of its revenue from operations is geographically concentrated in Maharashtra, Karnataka and Telangana, which collectively contributed 78.57%, 60.95% and 55.44% of its revenue from operations for the Fiscal 2026, Fiscal 2025 and Fiscal 2024, respectively. It also derives a portion of its revenue from export sales to a limited number of international jurisdictions. Any adverse developments affecting these geographies could materially and adversely affect its business, financial condition, results of operations and cash flows.

The company is coming out with a maiden IPO of 55,50,000 equity shares of face value of Rs 10 each. The issue has been offered in a price band of Rs 128-135 per equity share. The aggregate size of the offer is around Rs 71.04 crore to Rs 74.93 crore based on lower and upper price band respectively. On performance front, revenue from operations increased 2.91% from Rs 11,034.57 lakh in Fiscal 2025 to Rs 11,356.02 lakh in Fiscal 2026. Profit after tax increased 57.35% from Rs 1,140.94 lakh in Fiscal 2025 to Rs 1,795.32 lakh in Fiscal 2026.

Meanwhile, it has historically been engaged in the distribution, installation, commissioning, maintenance and consultancy of amusement and gaming equipment. As part of its long-term growth strategy and with a view to increasing its participation across the amusement equipment value chain, it proposes to commence the assembly and integration of amusement games at its existing warehouse facility located at E-8, Gala No. 19 & 20, Bhiwandi, Maharashtra. Going forward, strengthening its core distribution and consulting capabilities is a key component of its growth strategy. It intends to deepen its relationships with existing customers and selectively expand the range of products and services offered to them. By leveraging its experience in the amusement and leisure industry, operational capabilities and consulting expertise, it seeks to provide solutions across various stages of the lifecycle of entertainment and leisure facilities, including equipment selection, facility planning, installation, commissioning, operational support and maintenance, as applicable to the requirements of individual projects.

Mystic Electronics has informed that the Board of Directors of the company at its meeting held on August 26, 2026 has, inter alia, considered and approved/recommended the following matters: 

i) The Board of Directors have, on recommendation of Nomination & Remuneration Committee, proposed appointment of Nikhil Kumar Rungta (DIN: 08789354) as Non - Executive, Independent Director of the Company for a term up to 5 consecutive years in the ensuing Annual General Meeting. 

ii) Adoption of Secretarial Audit Report issued by Ritika Agrawal & Associates, Company Secretaries for the Financial Year 2025-26. 

iii) The Directors’ Report along with the applicable annexures thereto and other related documents forming the part of Annual Report for Financial Year ended March 31, 2026. 

iv) The Notice for convening the 15th Annual General Meeting (AGM) of the Company and fixing the date of AGM as September 29, 2026, to be held through Video Conferencing/Other Audio-Visual Means (VC/OAVM). 

v) The Appointment of Mr. Arvind Dhanraj Baid, Practicing Chartered Accountant, as the Scrutinizer for conducting the e-voting process for the 15th AGM in a fair and transparent manner.

The above information is a part of company’s filings submitted to BSE.

Anand Rayons has informed that the meeting of the Board of Directors of the Company is scheduled on 31/08/2026, inter alia, to consider and approve AGM related matters and director report for FY 25-26.

The above information is a part of company’s filings submitted to BSE.

Avax Apparels and Ornaments has informed about Annual Report for the Financial Year 2025-26 of the Company under Regulation 34 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The above information is a part of company’s filings submitted to BSE.

Standard Batteries has informed about notice of 79th Annual General Meeting (Adjourned) & Extended Book Closure Dates to the shareholders published in Financial Express (English Newspaper) and Mumbai Lakshadweep (Marathi Newspaper) on 26th August,2026.

The above information is a part of company’s filings submitted to BSE.