IPO Key Dates
| Anchor Investor Subscription | Â |
| IPO opens on | 28 Oct. 2025 |
| IPO Closes on | 30 Oct 2025 |
| Allotment on | 3 Oct 2025 |
| Credit of shares on | 3 Nov2025 |
| Tentative Listing on | 4 Nov 2025 |
| Registered office |
| Game Changers Texfab Ltd. 3656-P NO-21, Hathi Khanna, Bahadur Garh Road, Delhi, New Delhi, 110006 |
| Email: compliance@tradeuno.com |
| Lead Manager of the IPO |
| Copwis Advisors Pvt ltd |
| Registrar to the IPO |
| Skyline Financial Services Pvt ltd |
Business:
Incorporated in 2015, TradeUNO Fabrics, powered by Game Changers Texfab Pvt. Ltd., operates a B2B and B2C marketplace for fabrics with a strong supply chain network across India. The company sources high-quality fabrics as per customer specifications, ensuring quality, sustainability, and timely delivery. It offers an extensive product range including cotton, silk, satin, printed, occasion, and technical textiles used in apparel, furnishings, tarpaulins, tents, and sports goods. With over 10 sourcing offices and two retail stores, TradeUNO provides both daily wear and premium fabrics at competitive prices. Its B2B platform caters to garment manufacturers and export houses, while the B2C segment under the “TradeUNO” brand introduces fresh collections weekly. The company also markets customized, made-to-measure garments under the “Fall in Love” brand. Through its online platform, tradeuno.com, it connects with nationwide customers, offering design variety, customization, and value-added fabric solutions.
IPO Details
| Â | |
| IPO opens on | 28 October 2025 |
| IPO closes on | 30 October 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 53,76,000 Shares / Rs 54.84 Crore |
| * Fresh Issue | – |
| * Offer for Sale – | – |
| Market Maker Portion | 270.000 Shares |
| Net offer to Public | 5106000 Shares Rs. 52.08 Crores |
| Face Value per share | Rs. 10 |
| Price Band | Rs. 96-102 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 1200 Shares |
| Listing will at | BSE SME |
How shares are being offered
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII Shares Offered | Not less than 15% of the Net Issue |
How shares can be applied?
| Application | Lots | Shares | Amount Rs. |
| Retail (Min) | 2 | 2,400 | 2,44,800 |
| 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 |
The PromotersÂ
The promoters hold 98.67% of the pre-IPO capital
The Objects of the IPO
The Company proposes to utilize the Net Proceeds from Issue towards funding the following objects
| Objects of the Issue | Rs. in crores |
| Funding capital expenditure | 15 |
| Funding overall working capital requirements | 25.5 |
| General Corporate Purposes including unidentified inorganic acquisitions | Â |
Financials Snapshot
| Period Ended | 30-Jun-25 | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
| Assets | 52.25 | 51.32 | 41.37 | 21.82 |
| Total Income | 24.11 | 115.59 | 97.86 | 100.58 |
| Profit After Tax | 4.27 | 12.07 | 4.27 | 0.53 |
| EBITDA | 6.05 | 18.59 | 6.73 | 1.26 |
| NET Worth | 25.27 | 21.01 | 8.94 | 4.67 |
| Reserves and Surplus | 12.76 | 8.49 | 8.9 | 4.64 |
| Total Borrowing | 9.88 | 5.66 | 5.54 | 6.46 |
| Amount in Rs. Crore | ||||
Peer Comparison:
Key Financial Indicators
| 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 | 182.51 |
| EPS | 9.64 |
| PE Ratio | 10.58 |
Chanakya IPO Review – Game Changers Texfab Ltd.
Game Changers Texfab Ltd., the parent of TradeUNO Fabrics, is a fast-growing B2B and B2C marketplace specializing in high-quality women’s wear and technical fabrics. The company has built a strong sourcing network through 10+ offices and retail sampling centers and also markets customized “Made-to-Measure” garments under its “Fall in Love” brand. Financially, the company’s FY25 revenue stood at Rs. 115.59 crore with a PAT of Rs. 12.07 crore, reflecting a PAT margin of 10.44% and robust ROE of 80.6%. With a low debt-equity ratio of 0.27, high RoNW, and strong return ratios, it demonstrates operational efficiency and scalability. The issue appears attractively valued at a P/E of 10.58x and P/B of 6.08, leaving room for appreciation. Overall, this IPO offers a combination of growth visibility, sound profitability, and niche positioning in the organized fabric segment.
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