Game Changers Texfab Ltd. IPO is a book-building issue worth ₹54.84 crore, consisting entirely of fresh shares. The IPO will open for subscription on October 28, 2025, and close on October 30, 2025. The allotment is expected to be finalised on October 31, 2025, and the shares are likely to be listed on BSE SME on November 4, 2025.
The price band for the IPO is set between ₹96 and ₹102 per share, with a lot size of 1,200 shares. Retail investors can invest a minimum of ₹2,44,800 (2 lots, 2,400 shares at the upper price), while HNI investors must apply for at least 3 lots (3,600 shares), totaling ₹3,67,200.
Corpwis Advisors Pvt. Ltd. is the book running lead manager, Skyline Financial Services Pvt. Ltd. is the registrar, and NNM Securities Pvt. Ltd. will act as the market maker for the issue.
Game Changers Texfab IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Strengthen day-to-day operations and ensure smooth business functioning. Estimated allocation is ₹2,550 lakhs.
- Launch 6 new retail stores across key cities, including Chandigarh, Lucknow, Noida, Ahmedabad, Delhi, and Pune. This includes costs for construction, furnishing, fixtures, display units, lighting, and other essentials for a premium in-store experience. Estimated allocation from IPO proceeds is ₹1,500 lakhs.
- Support general business activities, potential strategic acquisitions, and other corporate needs. Allocation will not exceed 25% of the IPO proceeds (with a cap of 15% for general corporate purposes or ₹1,000 lakhs and 10% for unidentified acquisitions).
- Listing on the stock exchange will improve brand recognition, build investor, customer, and supplier confidence, and provide liquidity to existing shareholders.
- Working capital and capital expenditure are expected to be deployed primarily in FY 2025-26, while general corporate purposes and acquisitions will be funded as needed in the following financial years.
About Game Changers Texfab Limited
Incorporated in 2015, Game Changers Texfab Pvt. Ltd. powers TradeUNO Fabrics, a B2B marketplace for fabrics, and acts as a supply chain facilitator for the textile industry.
The company helps businesses source high-quality fabrics based on customer specifications, selects suppliers, negotiates prices, and ensures quality and sustainability.
It offers a wide range of fabrics, focusing on women’s wear and technical textiles, including outdoor and PVC-coated fabrics used for awnings, furniture, tarpaulins, sports goods, and tents.
With over 10 sourcing offices, Game Changers Texfab provides daily and premium fabrics at competitive prices, and also operates two retail stores that serve as sampling centres for fabrics and garments. Its product portfolio includes more than 10,000 designs, covering cotton, silk, satin, printed and patterned fabrics, self-branded collections, occasion-specific fabrics, apparel, and accessories.
The company operates across B2B and B2C segments, helping businesses source fabrics in small to large quantities while offering personalised, high-quality fabrics through the "TradeUNO" brand and made-to-measure garments under the "Fall in Love" brand, including customisation with embroidery and embellishments. Its e-commerce platform, tradeuno.com, connects with a wide audience, offering fabrics, customisation, and personalised services.
The company’s competitive strengths include an asset-light manufacturing model, international tie-ups, technology integration, designer onboarding initiatives, strong digital commerce arrangements, and boutique partnerships.
Industry Outlook
- The industry is supported by a strong production base of natural fibres like cotton, silk, jute, and wool, as well as synthetic fibres such as polyester, viscose, nylon, and acrylic.
- Government initiatives like SITP, TUFS, and MITRA Parks aim to attract private investment and generate employment.
- The Indian textiles and apparel market is expected to grow at a 10% CAGR, reaching US$350 billion by 2030.
- India is the 3rd largest exporter of textiles and apparel, with exports projected to reach US$100 billion, and the sector contributes 2.3% to GDP, 13% to industrial production, and 12% to exports.
- India is the largest cotton producer, with a projected output of 7.2 million tons (~43 million bales) by 2030, supporting both domestic demand and exports.
- Fibre and yarn production are robust, forming the backbone of the industry, which is expected to grow from US$138 billion in 2022-23 to US$195 billion by 2025.
How To Apply for the Game Changers Texfab IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Game Changers Texfab IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How To Check the Allotment Status of Game Changers Texfab IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Game Changers Texfab Limited
Registered office: Game Changers Texfab Ltd., 3656-P NO-21, Hathi Khanna, Bahadur Garh Road, Delhi, New Delhi, 110006
Phone:+91 8377936803
E-mail:compliance@tradeuno.com
Website:http://www.tradeuno.com/
Game Changers Texfab IPO Reservation
| Investor Category | Shares Offered |
| Market Maker | 2,70,000 (5.02%) |
| QIB (Qualified Institutional Buyers) | 25,51,200 (47.46%) |
| NII (HNI) | 7,66,800 (14.26%) |
| Retail Investors (RII) | 17,88,000 (33.26%) |
| Total | 53,76,000 (100%) |
Game Changers Texfab IPO Lot Size Details
| Application | Lots | Shares | Amount |
| Individual investors (Retail) (Min) | 2 | 2,400 | ₹2,44,800 |
| Individual investors (Retail) (Max) | 2 | 2,400 | ₹2,44,800 |
| S-HNI (Min) | 3 | 3,600 | ₹3,67,200 |
| S-HNI (Max) | 8 | 9,600 | ₹9,79,200 |
| B-HNI (Min) | 9 | 10,800 | ₹11,01,600 |
Game Changers Texfab IPO Promoter Holding
The promoters of the company include Mr Ankur Aggarwal, Mr Sanjeev Goel and Force Multiplier ECommerce Private Limited.
| Share Holding Pre-Issue | 98.67% |
| Share Holding Post Issue | - |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Game Changers Texfab IPO Anchor Investors Details
| Particulars | Details |
| Bid Date | October 27, 2025 |
| Shares Offered | 15,30,000 |
| Anchor Portion Size (In ₹ Cr.) | 15.61 |
| Anchor lock-in period end date for 50% shares (30 Days) | November 30, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | January 29, 2026 |
Key Performance Indicators for Game Changers Texfab IPO
| KPI | Values |
| ROE | 80.59% |
| ROCE | 65.97% |
| Debt/Equity | 0.27 |
| RoNW | 80.59% |
| PAT Margin | 10.44% |
| EBITDA Margin | 16.09% |
| Price to Book Value | 6.08 |
| Market Capitalization (₹ Cr.) | 182.51 |
Game Changers Texfab IPO Prospectus
Game Changers Texfab IPO Registrar and Lead Managers
Game Changers Texfab IPO Lead Managers
- Corpwis Advisors Pvt.Ltd
Registrar for Game Changers Texfab IPO
Skyline Financial Services Pvt.Ltd.
- Phone: 02228511022
- Email: ipo@skylinerta.com
- Website: https://www.skylinerta.com/ipo.php
Financial Performance of Game Changers Texfab Limited
| Particulars | 30 Jun 2025 | Year ending 31 Mar 2025 | Year ending 31 Mar 2024 | Year ending 31 Mar 2023 |
| Assets (₹ Crore) | 52.25 | 51.32 | 41.37 | 21.82 |
| Total Income (₹ Crore) | 24.11 | 115.59 | 97.86 | 100.58 |
| Profit After Tax (PAT) (₹ Crore) | 4.27 | 12.07 | 4.27 | 0.53 |
| EBITDA (₹ Crore) | 6.05 | 18.59 | 6.73 | 1.26 |
| Net Worth (₹ Crore) | 25.27 | 21.01 | 8.94 | 4.67 |
| Reserves and Surplus (₹ Crore) | 12.76 | 8.49 | 8.90 | 4.64 |
| Total Borrowing (₹ Crore) | 9.88 | 5.66 | 5.54 | 6.46 |
Game Changers Texfab Limited Peer Comparison
| Name of the Company | EPS (₹) | P/E Ratio | RoNW (%) | NAV per Share (₹) |
| Game Changers Texfab Limited | 9.64 | [●] | 80.59% | 16.78 |
| T T Limited | 0.19 | 54.79 | 0.05% | 0.18 |
| Bhandari Hosiery Exports Limited | 0.32 | 15.19 | 6.10% | 20.57 |
Strengths and Opportunities of Game Changers Texfab Limited
- The company operates 6 deemed manufacturing units, allowing it to use external production resources while maintaining quality control, reducing overheads, and following an asset-light model that supports flexible and scalable production.
- Game Changers Texfab has strategic collaborations with 2 international firms to source and supply high-quality technical fabrics, helping meet the growing demand in India and expanding its specialised product offerings.
- The company uses advanced technology for visual fabric search, size recommendations, and virtual try-on, providing customers with photorealistic previews to ensure accurate selection and a seamless shopping experience.
- Experienced designers with over five years of expertise are onboarded to create exclusive collections, enhancing the product range with unique, high-quality designs and reflecting the company’s focus on innovation and excellence in fashion.
Risks and Threats of Game Changers Texfab Limited
- A large portion of the company’s revenue comes from a few key customers. Losing business from any of these customers could negatively impact revenues and profitability.
- Most of the company’s purchases are sourced from a limited number of suppliers. Any disruption or loss of business with these suppliers could affect operations and profitability.
- The company operates mainly through short-term purchase orders and does not have long-term agreements with its customers. Inability to maintain a steady flow of orders could adversely impact revenue and profits.
