True Colors Ltd. is launching its SME IPO to raise funds for working capital requirements, debt repayment, and general corporate purposes. The IPO opens on September 23, 2025 and closes on September 25, 2025. Shares are planned to be listed on BSE SME.
Key IPO Details
| Particulars | Details |
|---|---|
| IPO Open Date | September 23, 2025 |
| IPO Close Date | September 25, 2025 |
| Listing Date | September 30, 2025 |
| Face Value | ₹10 per equity share |
| Price Band | ₹181 to ₹191 per share |
| Issue Size | Approx. ₹127.97 Crores |
| Fresh Issue | Approx. ₹108.87 Crores |
| Offer for Sale | Approx. 10,00,000 Equity Shares |
| Issue Type | Book Built Issue |
| IPO Listing | BSE SME |
| Retail Quota | Up to 35% |
| QIB Quota | Up to 50% |
| NII (HNI) Quota | Up to 15% |
Market Lot Information
| Category | Lot Size | Shares | Amount (₹) |
|---|---|---|---|
| Retail Minimum | 2 | 1,200 | 2,29,200 |
| Retail Maximum | 2 | 1,200 | 2,29,200 |
| S-HNI Minimum | 3 | 1,800 | 3,43,800 |
| S-HNI Maximum | 8 | 4,800 | 9,16,800 |
| B-HNI Minimum | 9 | 5,400 | 10,31,400 |
Important IPO Dates
| Event | Date |
|---|---|
| IPO Opening | September 23, 2025 |
| IPO Closing | September 25, 2025 |
| Basis of Allotment | September 26, 2025 |
| Refund Initiation | September 29, 2025 |
| Demat Credit | September 29, 2025 |
| Listing Date | September 30, 2025 |
Promoters
- Ashish Kumar Durlbhbhai Mulani
- Sanjay Raghubhai Desai
- Sagarkumar Bipinbhai Mulani
- Panchani Satishkumar Jayantibhai
About the Company
True Colors Ltd. is engaged in the business of manufacturing and distribution. The company is raising funds for working capital, debt repayment, and general corporate purposes. More details about operations and strengths will be updated soon.
Financial Performance
| Period Ended | Revenue (₹ Cr) | Expense (₹ Cr) | PAT (₹ Cr) | Assets (₹ Cr) |
|---|---|---|---|---|
| 2023 | 80.94 | 75.47 | 3.92 | 45.53 |
| 2024 | 160.91 | 149.43 | 8.25 | 105.91 |
| 2025 | 234.05 | 200.98 | 24.69 | 154.97 |
Key Financial Ratios (FY2025)
| KPI | Value |
|---|---|
| ROE | – |
| ROCE | 35.94% |
| EBITDA Margin | 17.48% |
| PAT Margin | 10.57% |
| Debt to Equity Ratio | 0.86 |
| EPS (Basic) | ₹13.77 |
| P/E Ratio | N/A |
| RoNW | 44.53% |
| Net Asset Value (NAV) | ₹29.26 |
Peer Group Comparison
No listed peers of the company.
Purpose of the IPO
- Funding working capital requirements of the company
- Repayment/prepayment of borrowings
- General corporate purposes
Registrar & Contact Details
Registrar:
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Lead Managers:
GYR Capital Advisors Pvt.Ltd.
Company Address:
True Colors Ltd.
P-8, GR Flr to 3rd Flr
Somakanjiini Wadi Patel Line Khatodara,
Surat, Gujarat, 395002
Phone: +91 7069169145
Email: cs@truecolorsgroup.com
Website: https://truecolorsgroup.com/
Reviews
The company has demonstrated strong financial growth with increasing revenue and profit. Investors may consider for long-term investment, but are advised to research further and consult financial advisors before investing.