True Colors IPO
True Colors is a BSE SME IPO listed on the BSE SME platform, priced at ₹181–₹191 per share. The stock debuted at ₹191 with a flat listing performance. The IPO had a lot size of ₹600 shares and a minimum investment of ₹2,29,200.
True Colors Limited IPO
- IPO Dates
- Sep 23, 2025 – Sep 25, 2025
- Price band
- ₹181-191 per equity share
- Minimum Investment
- ₹2,29,200
- Issue size
- ₹127.96 Cr
- Lot size
- 600
- Allotment Date
- Sep 26, 2025
- Listing
- Sep 30, 2025
- Listing At
- BSE SME
IPO timeline
-
Sep 23, 2025
Open Date
Completed
-
Sep 25, 2025
Close Date
Completed
-
Sep 26, 2025
Allotment Date
Completed
-
Sep 30, 2025
Listing Date
Completed
True Colors IPO Subscription Details
View Subscription DetailsTrue Colors IPO subscription status shows demand across QIB, NII, and retail categories, helping investors understand participation levels.
Last updated:True Colors IPO Essentials
True Colors IPO Details
True Colors IPO is priced at ₹181-191 per share with a total issue size of 127.96 crore. The IPO has a lot size of 600 shares and is listed on BSE SME.
- Issue price
- ₹181-₹191 per equity share
- Lot size
- 600 shares
- Face value
- ₹10 Per Equity Share
- Issue size
- 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) - Total issue size
- 66,99,600 shares
(aggregating up to ₹127.96 crore) - Fresh issue
- 56,99,600 shares
(aggregating up to ₹103.16 crore) - Offer for sale (OFS)
- 1,00,000 shares
(aggregating up to ₹18.1 crore) - Listing at
- BSE SME
- List price
- 191.0
- Listing date
- Registrar
- Bigshare Services Pvt Ltd
- Lead manager
-
GYR Capital Advisors 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 |
| sHNI(min) | 9 | 5400 | ₹10,31,400 |
True Colors IPO Reservation
True Colors IPO reservation details show category-wise allocation of shares. Out of the total 66,99,600 shares, approximately 18.97% are reserved for QIB, 14.29% for NII, 33.28% for retail investors, 5.02% for market maker, and 28.44% for 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%) | |
| bHNI > ₹10L | 6,38,400 (9.53%) | 355 |
| sHNI < ₹10L | 3,19,200 (4.76%) | 177 |
| Individual Shares Offered | 22,29,600 (33.28%) | 1858 |
| Total Shares Offered | 66,99,600 (100%) |
True Colors IPO Analytics
True Colors IPO category-wise subscription trends show day-wise participation across QIB, NII, and retail investors.
True Colors IPO Subscription Status
True Colors IPO subscription status shows demand across retail, NII, and QIB categories, helping investors understand overall participation trends.
The IPO is currently subscribed 45.55x, indicating strong demand across investor categories.
| 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 |
|
Total No. of Applications
|
bHNI | sHNI | Individual |
|---|---|---|---|
| 95709 (Approx) | 17.26x | 39.02x | 44.46x |
True Colors Valuations
Earnings
- EPS Pre IPO
- ₹13.03
- EPS Post IPO
- ₹10.02
- P/E Pre IPO
- 14.66
- P/E Post IPO
- 19.07
Returns
- ROE
- 70.49%
- ROCE
- 35.94%
- RoNW
- 44.53%
- PAT Margin
- 5.15%
Fundamentals
- Debt / Equity
- 0.86
- Price / Book
- 6.53
True Colors Financials( In Crs.)
| 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 |
True Colors Company & Offer Insights
About True Colors
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 are the company's promoters of True Colors.
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 Information
Contact Details
True Colors
+91 7069169145
P-8, GR Flr to 3rd Flr Somakanjiini Wadi Patel Line Khatodara, Surat, Gujarat, 395002
Registrar Contact Details
Bigshare Services Pvt.Ltd.
+91-22-6263 8200
Frequently Asked Questions
Click any question to reveal the answer
True Colors IPO is a book-built IPO worth ₹127.96 crore. The price band is ₹181–₹191 per share. The IPO opens on Sep 23, 2025 and closes on Sep 25, 2025. It will be listed on BSE SME Platform. Bigshare Services Pvt Ltd is the registrar.
The price band of True Colors IPO is ₹181 to ₹191 per share.
The lot size of True Colors IPO is 600 shares.
The minimum investment for True Colors IPO is approximately ₹2,29,200 based on the upper price band .
True Colors IPO opens on Sep 23, 2025 and closes on Sep 25, 2025.
The allotment date of True Colors IPO is Sep 26, 2025.
True Colors IPO is expected to be listed on Sep 30, 2025, on BSE SME Platform.
True Colors IPO valuation snapshot: P/E 19.07, EPS ₹10.02, P/B 6.53, RoNW 44.53%, and market cap N/A.
To apply for True Colors IPO, open the IPO Ji app or website, select the IPO, choose your demat account, enter the quantity, and submit the application.
You can check the live subscription status of True Colors IPO on IPO Ji or stock exchange websites. It shows real-time demand across retail, NII, and QIB categories.
Pre-apply allows investors to submit their IPO application before the bidding period starts. The order is placed automatically when the IPO opens.
If you pre-apply for True Colors IPO, your order will be placed when the IPO bidding starts, and a UPI mandate request will be generated.
You can check True Colors IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the True Colors IPO allotment status on IPO Ji for quick and easy access.