Comparison between Game Changers Texfab IPO and Happy Square Outsourcing IPO.
Game Changers Texfab IPO is a SME Bookbuilding IPO proposed to list at BSE SME while Happy Square Outsourcing IPO is a SME Bookbuilding proposed to list at NSE SME.
| Game Changers Texfab IPO | Happy Square Outsourcing IPO | |
|---|---|---|
| Logo |  |  |
| Issue Category | SME | SME |
| Issue Type | IPO | IPO |
| Process Type | Bookbuilding | Bookbuilding |
| Listing At | BSE SME | NSE SME |
| Lead Managers | Corpwis Advisors Pvt.Ltd. | Corpwis Advisors Pvt.Ltd. |
| Registrar | Skyline Financial Services Pvt.Ltd. | Purva Sharegistry (India) Pvt.Ltd. |
| Market Maker | NNM Securities Pvt.Ltd. | Giriraj Stock Broking Pvt.Ltd. |
| DRHP | DRHP  | DRHP |
| RHP | RHP | RHP |
| Final Prospectus | Final Prospectus | Final Prospectus |
| Anchor Investor | Anchor Investor | Anchor Investor |
| IPO Allotment URL | IPO Allotment URL | IPO Allotment URL |
The total issue size of Game Changers Texfab IPO is up to ₹52.08 Cr whereas the issue size of the Happy Square Outsourcing IPO is up to ₹22.06 Cr. The final issue price of Game Changers Texfab IPO is ₹102.00 per share and of Happy Square Outsourcing IPO is ₹76.00 per share.
| Game Changers Texfab IPO | Happy Square Outsourcing IPO | |
|---|---|---|
| Face Value | ₹10 per share | ₹10 per share |
| Issue Price (Lower) | ₹96.00 per share | ₹72.00 per share |
| Issue Price (Upper) | ₹102.00 per share | ₹76.00 per share |
| Issue Price (Final) | ₹102.00 per share | ₹76.00 per share |
| Discount (Retail) | ||
| Discount (Employee) | ||
| Market Lot Size | 1200 shares | 1600 shares |
| Fresh Issue Size | 51,06,000 shares | 29,02,400 shares |
| Fresh Issue Size (Amount) | up to ₹52.08 Cr | up to ₹22.06 Cr |
| OFS Issue Size | 0 shares | 0 shares |
| OFS Issue Size (Amount) | up to ₹0.00 Cr | up to ₹0.00 Cr |
| Issue Size Total | 51,06,000 shares | 29,02,400 shares |
| Issue Size Total (Amount) | up to ₹52.08 Cr | up to ₹22.06 Cr |
Game Changers Texfab IPO opens on Oct 28, 2025, while Happy Square Outsourcing IPO opens on Jul 03, 2025. The closing date of Game Changers Texfab IPO and Happy Square Outsourcing IPO is Oct 30, 2025, and Jul 07, 2025, respectively.
| Game Changers Texfab IPO | Happy Square Outsourcing IPO | |
|---|---|---|
| Anchor Bid Date | Oct 27, 2025 | Jul 02, 2025 |
| Issue Open | Oct 28, 2025 | Jul 03, 2025 |
| Issue Close | Oct 30, 2025 | Jul 07, 2025 |
| Basis Of Allotment (Tentative) | Oct 31, 2025 | Jul 08, 2025 |
| Initiation of Refunds (Tentative) | Nov 03, 2025 | Jul 09, 2025 |
| Credit of Share (Tentative) | Nov 03, 2025 | Jul 09, 2025 |
| Listing date (Tentative) | Nov 04, 2025 | Jul 10, 2025 |
| Anchor Lockin End date 1 | Nov 30, 2025 | Aug 07, 2025 |
| Anchor Lockin End date 2 | Jan 29, 2026 | Oct 06, 2025 |
Game Changers Texfab IPO P/E ratio is 10.58, as compared to Happy Square Outsourcing IPO P/E ratio of 10.83.
| Game Changers Texfab IPO | Happy Square Outsourcing IPO | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Financials | Company Financials (Restated)Game Changers Texfab Ltd.'s revenue increased by 18% and profit after tax (PAT) rose by 183% between the financial year ending with March 31, 2025 and March 31, 2024.
| Company Financials (Restated)Happy Square Outsourcing Services Ltd.'s revenue increased by 40% and profit after tax (PAT) rose by 34% between the financial year ending with March 31, 2025 and March 31, 2024.
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| Promoter Shareholding (Pre-Issue) | 98.67 | 84 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 69.01 | 60.89 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 10.58 | 10.83 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹182.51 Cr. | ₹88.16 Cr. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 80.59% | 61.97% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 65.97% | 57.75% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 0.27 | 1.17 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹9.64 | ₹7.02 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 80.59% | 61.97% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the Game Changers Texfab IPO Retail Individual Investors (RII) are offered 17,88,000 shares while in Happy Square Outsourcing IPO retail investors are offered 17,88,000 shares. Qualified Institutional Buyers (QIB) are offered 16,56,000 shares in Game Changers Texfab IPO and 5,79,200 shares in Happy Square Outsourcing IPO.
| Game Changers Texfab IPO | Happy Square Outsourcing IPO | |
|---|---|---|
| Anchor Investor Reservation | 8,95,200 shares | 8,68,800 shares |
| Market Maker Reservation | 2,70,000 shares | 2,88,000 shares |
| QIB | 16,56,000 shares | 5,79,200 shares |
| NII | 7,66,800 shares | 4,36,800 shares |
| RII | 17,88,000 shares | 10,17,600 shares |
| Employee | 0 shares | 0 shares |
| Others | ||
| Total | 51,06,000 shares | 29,02,400 shares |
Game Changers Texfab IPO subscribed 1.17x in total, whereas Happy Square Outsourcing IPO subscribed 3.58x.
| Game Changers Texfab IPO | Happy Square Outsourcing IPO | |
|---|---|---|
| QIB (times) | 1.01x | 7.16x |
| NII (times) | 1.48x | 2.24x |
| Big NII (times) | 1.46x | |
| Small NII (times) | 1.52x | |
| RII (times) | 1.18x | 2.12x |
| Employee (times) | ||
| Other (times) | ||
| Total (times) | 1.17x | 3.58x |
