True Colors Limited IPO
True Colors operates in the digital textile printing industry through a mix of import, manufacturing, and service offerings. It imports and distributes wide-format digital textile printers from global brands such as Konica Minolta, Hopetech, Itten, Pengda, and Skyjet under dealership agreements, along with supplying specialized inks including sublimation, reactive, and disperse inks for diverse fabric types. To strengthen its supply chain, the Company has set up its own sublimation paper manufacturing unit, ensuring consistent quality and reduced dependency on third parties. It also provides digital textile printing services, offering job-work printing on client-supplied fabrics as well as manufacturing and supplying custom-printed fabrics. Through this integrated model, the Company serves textile manufacturers, exporters, and fabric dealers across India.
Price Band₹181 - ₹191 |
Dates23 Sep - 25 Sep |
GMP₹0 (0.00%) |
Subscriptions42.36 times |
Issue Size₹127.96 Crs |
True Colors IPO Key Dates
Opening Date
23 Sep 25
Closing Date
25 Sep 25
Basis Of Allotment
26 Sep 25
Initiations Of Refund
29 Sep 25
Credit Of Shares
29 Sep 25
Listing Date
30 Sep 25
True Colors IPO Objects
- Funding working capital requirements of our company
- Repayment/prepayment of all or certain of our borrowings availed of by our Company
- General corporate purposes
True Colors IPO Details
Price Band₹181 - ₹191 |
Listing AtBSE SME |
IPO Issue Type100% Book Built Offer |
Fresh Issue₹108.86 Cr (0.57 Cr Shares) |
Offer For Sale₹19.10 Cr (0.10 Cr Shares) |
Total Issue₹127.96 Cr (0.67 Cr Shares) |
Face Value₹10 per equity share |
True Colors IPO Lot Information
| Investor Category | Lot | Shares | Amount | |
|---|---|---|---|---|
| Individual Investor |
Minimum
2
1,200
2,29,200
Maximum
2
1,200
2,29,200
|
|||
| Small HNI |
Minimum
3
1,800
3,43,800
Maximum
8
4,800
9,16,800
|
|||
| Big HNI |
Minimum
9
5,400
10,31,400
|
|||
True Colors IPO Subscription
Updated as on 25 Sep 2025 | 05:00:00 PM
| Investor Category | Subscription (times) | Shares Offered | Shared Bid |
|---|---|---|---|
| QIB | 43.41 | 12,70,800 | 5,51,63,400 |
| NII | 37.70 | 9,57,600 | 4,87,72,800 |
| bNII (bids above ₹10L) | 55.57 | 6,38,400 | 3,54,76,800 |
| sNII (bids between ₹2L to ₹10L) | 41.65 | 3,19,200 | 1,32,96,000 |
| Retail | 44.46 | 22,29,600 | 9,91,21,200 |
| Total | 42.36 | 47,94,000 | 20,30,57,400 |
True Colors IPO GMP
The estimated Grey Market Premium of True Colors IPO is ₹0 per share (0.00%)
Category Allocation
| Particulars | Allocation |
|---|---|
| QIB | Not more than 50% of Net Offer |
| NII | Not less than 35% of Net Offer |
| Retail | Not less than 15% of Net Offer |
| Market Maker | 3,36,000 EQ Shares |
True Colors IPO Financials
Key Performance Indicators
| KPI | Values |
|---|---|
| EBITDA | 17.48% |
| PAT | 10.57% |
| RONW | 44.53% |
| ROCE | 35.94% |
| Debt to Equity | 0.86 |
| PE Ratio | 13.87 |
| PB Ratio | 6.53 |
| Mkt Cap (in Crs.) | 470.90 |
- All the data pertains to FY 2024-25
- PE, PB, and market capitalization are calculated based on the Upper Price Band.
True Colors IPO Peer Comparision
True Colors IPO Peer Comparision
Promoter Details
| Name | Shareholding |
|---|---|
| Sagarkumar Bipinbhai Mulani | 23.63% |
| Sanjay Raghubhai Desai | 23.63% |
| Ashishkumar Durlbhbhai Mulani | 23.63% |
| Panchani Satishkumar Jayantibhai | 23.63% |
| Others | 0.33% |
| Total | 94.85% |
Management Details
| Name | Designation |
|---|---|
| Ashishkumar Durlbhbhai M | Chairman |
| Sanjay Raghubhai Desai | MD |
Company Details
Name: True Colors Limited
Address: P-8, Ground Floor to 3rd Floor, Somakanjiini Wadi
Patel Line Khatodara, Surat, Surat, Gujarat, India,
395002
Number: +91 7069169145
Email: cs@truecolorsgroup.com
Website: https://truecolorsgroup.com/
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Visit WebsiteFrequently Asked questions?
Find answers to common questions that come in your mind related to IPO.
True Colors IPO is a SME IPO having an issue size of Rs. ₹127.96 Crs. True Colors IPO is priced at ₹181 - ₹191 per share. The issue opens on 23 Sep 25 and closes on 25 Sep 25.
True Colors IPO opens on 23 Sep 25 and closes on 25 Sep 25.
The estimated Grey Market Premium of True Colors IPO is ₹0 per share (0.00%).
The minimum lot size of True Colors IPO is 600 shares & the minimum application amount is Rs. 114600.
The allotment date of True Colors IPO is 26 Sep 25.
The listing date of True Colors IPO is 30 Sep 25.
True Colors IPO is subscribed 42.36 times.
True Colors IPO is priced at ₹181 - ₹191 per share.
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