True Colors Limited IPO
BSE SMEListed On: Sep 30, 2025 at ₹ 191.0
₹ 229200 /1200 Shares
*Min Investment
23 Sep, 2025
Open Date25 Sep, 2025
Close Date26 Sep, 2025
Allotment Date30 Sep, 2025
Listing DateTrue Colors IPO Live Subscription Details
View Subscription DetailsTrue Colors IPO Issue Details
- Issue Price ₹181-₹191 per equity share
- Face Value ₹10 Per Equity Share
- Total Issue Size 66,99,600 shares(aggregating up to ₹127.96 crore)
- Fresh Share 56,99,600 shares(aggregating up to ₹103.16 crore)
- Offer For Sale 1,00,000 shares(aggregating up to ₹18.1 crore)
- Listing at BSE SME
- List Price 191.0
- Listing Date 2025-09-30
- Lead Manager GYR Capital Advisors Pvt.Ltd.
- Registrar Bigshare Services Pvt Ltd
Market Lot Size
Investors can bid for a minimum of 1200 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual (min) | 2 | 1200 | ₹2,29,200 |
| Individual(max) | 2 | 1200 | ₹2,29,200 |
| SHNI(min) | 3 | 1800 | ₹3,43,800 |
| SHNI(max) | 8 | 4800 | ₹9,16,800 |
| BHNI(min) | 9 | 5400 | ₹10,31,400 |
True Colors IPO Reservation
True Colors IPO offers total 66,99,600 shares. Out of which 12,70,800 (18.97%) allocated to QIB, 9,57,600 (14.29%) allocated to NII,22,29,600 (33.28%) allocated to RII, NA (NA%) allocated to employees and 19,05,600 (28.44%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 19,05,600 (28.44%) | |
| Market Maker Shares Offered | 3,36,000 (5.02%) | |
| QIB Shares Offered | 12,70,800 (18.97%) | |
| NII (HNI) Shares Offered | 9,57,600 (14.29%) | |
| bNII < ₹10L | 6,38,400 (9.53%) | |
| sNII < ₹10L | 3,19,200 (4.76%) | |
| Individual Shares Offered | 22,29,600 (33.28%) | |
| Total Shares Offered | 66,99,600 (100%) |
True Colors IPO Details
True Colors Limited IPO is an SME IPO, priced at ₹181-₹191 per equity share. The equity shares have a face value of ₹10 Per Equity Share each and will be listed on the BSE SME platform. The IPO comprises a total issue of 66,99,600 equity shares, aggregating up to ₹127.96 crores..
The IPO bidding window is open from Sep 23, 2025 to Sep 25, 2025. The allotment is expected to be finalized on Sep 26, 2025, and the tentative listing date is Sep 30, 2025.
The minimum lot size for Individual investors is 1200 shares, with a minimum investment of ₹2,29,200.
GYR Capital Advisors Pvt.Ltd. is acting as the lead manager to the issue. The registrar of the IPO is Bigshare Services Pvt Ltd, and Giriraj Stock Broking Pvt.Ltd. will act as the market maker for this issue.
True Colors IPO Subscription Analysis And Details
| As on | QIB / NII | Individual | Total |
|---|---|---|---|
| Shares Offered / Reserved | 12,70,800 / 9,57,600 | 22,29,600 | 44,58,000 |
Day 1 23-09-25 06:00 PM | 3.52 / 0.95 x | 1.62 x | 2.02 x |
Day 2 24-09-25 06:00 PM | 3.93 / 3.21 x | 7.38 x | 5.50 x |
Day 3 25-09-25 06:00 PM | 43.41 / 50.58 x | 44.42 x | 45.46 x |
True Colors Valuations
True Colors Company Financials
| 31-Mar-25 | 31-Mar-24 | 31-Mar-23 | |
|---|---|---|---|
| Assets | 154.97 | 105.91 | 45.53 |
| Revenue | 234.05 | 160.91 | 80.94 |
| Profit After Tax | 24.69 | 8.25 | 3.92 |
| Net Worth | 55.45 | 14.61 | 6.37 |
| Reserves & Surplus | 36.50 | 14.14 | 5.90 |
| Total Borrowing | 47.51 | 56.56 | 20.04 |
About True Colors Company
Established in October 2021, True Colors Limited is an importer and distributor of digital textile printers and supplies digital textile printing products.
They provide digital textile printing solutions, such as machines, inks, and service, to businesses such as exporters, manufacturers, designers, and entrepreneurs.
The company focuses on trust, technology, and transformation as it aspires to assist these businesses to modernise and expand.
The business model of the company includes manufacturing and trading, and there are three pillars under digital textile printing:
Machinery & Ink Supply (Import & Distribution): Imports and distributes premium wide format digital textile printers of KONICA MINOLTA, HOPETECH, ITTEN, PENGDA, and SKYJET brands.
Sublimation Inks: The sublimation inks are designed for polyester fabrics and for transfer printing.
Reactive Inks: The reactive inks provide deep colour depth, fixation, and fastness for direct printing on natural fibers like cotton, viscose, and silk.
Disperse Inks: Designed for direct-fabric printing on polyester fabrics.
Digital Textile Printing: Provides digital textile printing for out-sourcing needs, with growth into printed fabric supply.
The group has created a footprint in India through regional offices and service centers in major textile production hubs such as Surat, Amritsar, Panipat, Ludhiana, Delhi, Erode, Mumbai, Tirupur, Kolkata, and Varanasi.
True Colors - Promoter(s)
Ashish Kumar Durlbhbhai Mulani
Sanjay Raghubhai Desai
Sagarkumar Bipinbhai Mulani
Panchani Satishkumar Jayantibhai
Pre Issue Share Holding : 94.87%
Post Issue Share Holding : 68.88%
True Colors IPO - Issue Objectives
Funding working capital requirements of the company - ₹48.90 Cr
Repayment/prepayment of all or certain of our borrowings availed of by the Company - ₹40.40 Cr
General corporate purposes
Contact Details
True Colors
P-8, GR Flr to 3rd Flr Somakanjiini Wadi Patel Line Khatodara, Surat, Gujarat, 395002
+91 7069169145
Registrar Contact Details
Bigshare Services Pvt.Ltd.
+91-22-6263 8200
True Colors IPO - FAQs
Ans. True Colors Limited IPO is a SME IPO. The issue is priced at ₹181-₹191 per equity share. The minimum order quantity is 600 Shares. The IPO opens on Sep 23, 2025, and closes on Sep 25, 2025. Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Ans. The True Colors Limited IPO opens on Sep 23, 2025 and closes on Sep 25, 2025.
Ans. You can track the real-time subscription numbers using the links below:
Ans. The size of True Colors Limited IPO is 66,99,600 shares (aggregating up to ₹127.96 Cr) #Fresh Issue: 56,99,600 shares (aggregating up to ₹103.16 Cr) #Offer for Sale: 1000000 shares of ₹10 (aggregating up to ₹18.1 Cr).
Ans. The True Colors Limited IPO price band is set between ₹181-₹191 per equity share.
Ans. To apply for True Colors Limited IPO, follow the steps given below:
- - Open the IPO Ji App or Website
- - Find True Colors Limited IPO in the List of IPOs
- - Press Apply Button
- - Select Your Demat Account
- - Select Your Shares Quantity and Submit
- - Track Your IPO Status
Ans. The share allotment date of True Colors Limited IPO is Sep 26, 2025.
Ans. The True Colors Limited IPO will be listed on Sep 30, 2025.
Ans. Follow the steps to check the True Colors Limited IPO allotment status online.
