True Colors Limited IPO
True Colors Limited IPO
SME BSE SME 100% Book Built Offer
Closed

Price Band

₹181 - ₹191

Total Issue

₹128 Cr

Bid Dates

23 Sep - 25 Sep

Subscription

45.47x

Listing Price

₹191 (0.00%)

Website RHP Check Allotment

Valuation

Market Cap

₹470.90 Cr

P/E Ratio

13.87x

P/B Ratio

6.53x

True Colors IPO Dates

Open
Close
Allotment
Refunds
Credit
Listing

Business Overview

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.

True Colors IPO Lot Size

Lot Information for True Colors IPO
Category Lots Shares Amount
Ind (Min) 2 1,200 ₹2,29,200
Ind (Max) 2 1,200 ₹2,29,200
S-HNI (Min) 3 1,800 ₹3,43,800
S-HNI (Max) 8 4,800 ₹9,16,800
B-HNI (Min) 9 5,400 ₹10,31,400
Allocate Funds
Market Maker
3,36,000 EQ Shares
Employee
₹0.00
Shareholder
₹0.00

True Colors IPO Size

Total ₹127.96 Cr
Fresh Issue
₹109 Cr (0.57 Cr Shares)
Offer For Sale
₹19 Cr (0.10 Cr Shares)

Objects of Issue

  1. Funding working capital requirements of our company
  2. Repayment/prepayment of all or certain of our borrowings availed of by our Company
  3. General corporate purposes

True Colors IPO IPO Live Subscription

Updated as on 25 Sep 2025 | 05:00:00 PM

True Colors IPO IPO Subscription Status (BSE SME)
Category Sub (x) Offered Bids
QIB 43.41x 12,70,800 5,51,63,400
NII 50.58x 9,57,600 4,84,36,800
bHNI 55.05x 6,38,400 3,51,40,800
sHNI 41.65x 3,19,200 1,32,96,000
Individual Investor 44.46x 22,29,600 9,91,21,200
Total 45.47x 44,58,000 20,27,21,400

True Colors IPO IPO Details Live GMP

GMP ₹0
Est. Price ₹191
Est. Gain 0.00%

True Colors IPO Peer Comparison

There are no comparable listed peers in India as per the company

True Colors IPO IPO Financial Performance

(Rs. in crores)

Financial Performance Metrics for True Colors IPO
Particulars Mar-25 Mar-24 Mar-23
Revenue from Operations 233.66 160.08 80.66
Profit after Tax 24.69 8.25 3.92
Net Worth 55.45 14.61 6.37
Total Borrowing 47.51 56.56 20.04
Total Assets 154.97 105.91 45.53
NAV per share (in ₹) 29.26 16.28 7.09
EPS - Basic (in ₹) 13.77 4.94 3.32

Key Performance Indicators (KPIs)

EBITDA

17.48%

PAT

10.57%

RONW

44.53%

ROCE

35.94%

Debt to Equity

0.86

  • All the data pertains to FY 2024-25
  • PE, PB, and market capitalization are calculated based on the Upper Price Band.

Promoter Holding

Promoter

94.85%

Public

5.15%

Sagarkumar Bipinbhai Mulani 23.63%
Sanjay Raghubhai Desai 23.63%
Ashishkumar Durlbhbhai Mulani 23.63%
Panchani Satishkumar Jayantibhai 23.63%
Others 0.33%

Management

Ashishkumar Durlbhbhai M
Chairman
Sanjay Raghubhai Desai
MD

Registrar & Lead Managers

Registrar

Bigshare Services

Lead Managers (1)

GYR Capital

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/

Frequently Asked Questions (FAQs)

What is True Colors IPO?
True Colors IPO is a SME IPO having an issue size of ₹128 Crs. True Colors IPO is priced at ₹181 - ₹191 per share. The issue opens on 23 Sep 25 and closes on 25 Sep 25.
When will True Colors IPO open?
True Colors IPO opens on 23 Sep 25 and closes on 25 Sep 25.
What is the GMP of True Colors IPO?
The estimated Grey Market Premium of True Colors IPO is ₹0 per share (0.00%).
What is the lot size of True Colors IPO?
The minimum lot size of True Colors IPO is 600 shares & the minimum application amount is Rs. 114600.
When is the allotment of True Colors IPO?
The allotment date of True Colors IPO is 26 Sep 25.
What is the listing date of True Colors IPO?
The listing date of True Colors IPO is 30 Sep 25.
What is the subscription of True Colors IPO?
True Colors IPO is subscribed 42.36 times.
What is the price band of True Colors IPO?
True Colors IPO is priced at ₹181 - ₹191 per share.
How to check allotment status of True Colors IPO?
Click the allotment link on True Colors IPO page of IPO360.
How to apply True Colors IPO in Zerodha?
  1. Go to Kite App → Tap on Bids → Tap on IPO
  2. Select the IPO → Tap on apply → Enter UPI ID
  3. Enter Qty and Price
  4. Submit the application
  5. Approve the UPI Mandate on your UPI app
How to apply True Colors IPO in Groww?
  1. Go to Groww App → Stocks Section → Select IPO option
  2. Select the IPO you want to apply
  3. Enter your bid details and price
  4. Enter UPI ID & submit
  5. Approve the UPI Mandate on your UPI app
How to apply True Colors IPO using ASBA?
  1. Log in to your bank's net banking portal.
  2. Navigate to the 'IPO' or 'ASBA' section.
  3. Select True Colors IPO from the list of available IPOs.
  4. Enter the required details: Bid quantity, Price, DP ID & Client ID, etc
  5. Submit the application.
  6. Money will remain blocked till the refund date