Fascinate Textiles

Incorporated in February 2017, Fascinate Textiles manufactures a broad range of ready-made garments including t-shirts, joggers, vests, leggings, shorts, and infant wear across age groups and market segments, with children's apparel as its core focus. The company operates its own integrated manufacturing facility in Barasat, North 24 Parganas, West Bengal, where all major production activities take place, supporting an order-driven business model.

The product portfolio spans infant wear, kids wear, women's wear, and men's wear, and the company emphasizes end-to-end manufacturing capabilities, customization options, and quality control systems. As of March 31, 2026, the company employed 254 people, comprising 106 permanent employees and 148 contractual workers.

The promoters are Vishal Nahar, Chirag Ahuja, Rishabh Nahar, Narinder Kumar Ahuja, and Vishal Nahar (HUF), who together held approximately 99.46 percent of the company pre-issue.

The Fascinate Textiles IPO is a combination offering of 42,93,600 equity shares, priced at ₹148 to ₹156 per share, comprising a fresh issue of approximately ₹53.94 crore alongside an offer for sale of approximately ₹13.04 crore — the entire OFS portion sold by a single promoter-family selling shareholder, Neetu Nahar — aggregating up to ₹66.98 crore at the upper band, with 2,15,200 shares reserved for the market maker.

Proceeds are allocated toward a new manufacturing facility (₹12.40 crore), working capital (₹19.03 crore), and debt repayment (₹2.68 crore). On financial performance, the company posted extraordinary growth: revenue nearly doubled from ₹60.28 crore in FY2025 to ₹117.23 crore in FY2026, a 94 percent increase, while profit after tax grew 159 percent, from ₹5.81 crore to ₹15.07 crore, following an even larger jump the prior year from a near-negligible ₹0.48 crore base in FY2024.

An independent review characterized this pattern of "bumper profits" beginning in FY2025 as raising sustainability concerns, given the company operates in a highly competitive and fragmented apparel manufacturing segment, and assessed the issue as "aggressively priced," recommending it only for well-informed, risk-tolerant investors with a medium-term horizon. Investors should weigh the company's genuinely strong recent execution against the compressed, recent nature of that growth trajectory and the inherent difficulty of extrapolating two years of exceptional performance into a durable long-term trend in a fragmented, competitive industry.