Data sourced from BSE · Compiled by IPO Ji · IPO subscription data last updated
Total 45.55x·QIB 43.41x·NII 50.93x·Individual 44.46x
Based on individual subscription by applications (44.46×), approximately 1 in 44 individual applications may receive an allotment. Final allotment is decided by the registrar’s computerised lottery.
True Colors Limited SME IPO was subscribed 45.55x in total when bidding closed on Sep 25, 2025, with 43.41x in the QIB category, 50.93x in NII, 44.46x in individual across BSE. This represents a strong oversubscription, reflecting heavy investor demand; a high subscription figure does not guarantee listing gains, and allotment follows the applicable category and exchange rules. The issue ran from Sep 23, 2025 to Sep 25, 2025 at a price band of ₹181–₹191 per share. Allotment was finalised on Sep 26, 2025.
| Category | Offer | Applied | Times |
|---|---|---|---|
| QIBs | 1270800 | 55163400 | 43.41 |
| NIIs | 957600 | 48772800 | 50.93 |
| BNIIs (>10L) | 638400 | 35476800 | 55.57 |
| SNIIs (<10L) | 319200 | 13296000 | 41.65 |
| Individual | 2229600 | 99121200 | 44.46 |
| Total | 4458000 | 203057400 | 45.55 |
| Total Applications95,709 approx. |
|||
| Category | Reserve | Applied | Times |
|---|---|---|---|
| BNIIs (>10L) | 355 | 6,126 | 17.26 |
| SNIIs (<10L) | 177 | 6,907 | 39.02 |
| Individual | 1,858 | 82,601 | 44.46 |
| Total Applications95,709 approx. |
|||
| Category | Offered | Demand | Times |
|---|---|---|---|
| QIBs | 24.27 | 1053.62 | 43.41 |
| NIIs | 18.29 | 931.56 | 50.93 |
| BNIIs (>10L) | 12.19 | 677.61 | 55.57 |
| SNIIs (<10L) | 6.1 | 253.95 | 41.65 |
| Individual | 42.59 | 1893.21 | 44.46 |
| TOTAL | 85.15 | 3878.4 | 45.55 |
| As on | QIB | Individual | Total |
|---|---|---|---|
|
Day 1
23 Sep 2025
6:00 PM
|
0.95x | 1.62x | 2.02x |
|
Day 2
24 Sep 2025
6:00 PM
|
3.21x | 7.38x | 5.50x |
|
Day 3
25 Sep 2025
6:00 PM
|
50.58x | 44.42x | 45.46x |
Anticipated subscription based on the number of applications received (an alternative to the shares-based figures above), sourced from BSE.
| Category | Times (by applications) |
|---|---|
| bHNI | 17.26x |
| sHNI | 39.02x |
| Individual | 44.46x |
| Total applications | ~95,709 |
Because True Colors closed oversubscribed, applicants were not guaranteed full allotment. In oversubscribed issues, shares are allotted according to the applicable category and exchange rules, so applicants are not guaranteed full allotment once an issue is oversubscribed. The number of times each category is subscribed is one indicator of demand, alongside the company's fundamentals and the broader market.
A high subscription figure reflects strong demand but does not guarantee a premium listing, and a low figure does not guarantee a discount. This page is for information only and is not investment advice. Investors should read the company's prospectus and consult a SEBI-registered adviser before making any decision.
IPO subscription status shows how many times an issue has been applied for, compared with the shares on offer, broken down by Qualified Institutional Buyers (QIB), Non-Institutional Investors (NII), and the Retail or SME Individual Investor category. A figure of "2x" means investors applied for twice the shares available. See how IPO subscription works and track all live IPOs →
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