Fascinate Textiles IPO

Incorporated in 2017, Fascinate Textiles manufactures readymade garments and operates from West Bengal. Its product portfolio covers menswear, womenswear and childrenswear, with a strong focus on kids and infant garments such as t-shirts, joggers, vests, leggings, shorts and infant wear.

The company follows an integrated manufacturing model, with most major production activities handled in-house. Knitting and dyeing are outsourced to job workers, while general-purpose stitching is also outsourced. However, stitching for specialised products is carried out internally. The company operates one manufacturing unit with capacity to produce 2,40,000 kg of knitted fabric and 3,50,000 meters of woven fabric. However, utilisation remains low in these two areas. Knitted fabric production stood at 53,593.62 kg, translating into 22.3% utilisation, while woven fabric production was 24,883.51 meters, resulting in 7.1% utilisation in FY26.

The business remains largely B2B, accounting for 99.7% of total revenue in FY26, while B2C contributes a mere 0.25%. These include retail chains and wholesalers among its B2B customers. Kids garments contributed the maximum to revenue of 38.4% of total revenue, followed by men's garments with 28.7% of total revenue, infant garments with 21.9% of total revenue and women's garments with 8.7% of total revenue in FY26.

The concentration of customers is still quite high. The top five customers accounted for 56.3% of sales in FY26 and the top ten customers accounted for 72.9%. West Bengal is still the company’s biggest domestic market, contributing 67.1% of the revenue in FY26. Karnataka was the second largest market with 21.2% followed by Haryana at 3.6%. The company started exporting in FY26, initially entering Saudi Arabia and the UAE. Exports to Saudi Arabia generated ₹3.68 crore, while exports to the UAE contributed ₹0.12 crore.