All details for Mehul Colours IPO: Dates, price, financials, objectives, KPIs, registrar, and business overview.
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Mehul Colours IPO: At a Glance
IPO Timeline
| IPO Activity | Date |
|---|---|
| IPO Open Date | July 30, 2025 |
| IPO Close Date | August 1, 2025 |
| Basis of Allotment (Tentative) | August 4, 2025 |
| Refunds Initiation (Tentative) | August 5, 2025 |
| Credit of Shares to Demat (Tentative) | August 5, 2025 |
| IPO Listing Date (Tentative) | August 6, 2025 |
IPO Price & Lot Size
| Issue Price Band | ₹68 – ₹72 per share |
|---|---|
| Market Lot | 1,600 Shares |
| Retail Min | 2 lots (3,200 shares) – ₹2,30,400 |
| Retail Max | 2 lots (3,200 shares) – ₹2,30,400 |
| S-HNI Min | 3 lots (4,800 shares) – ₹3,45,600 |
| S-HNI Max | 8 lots (12,800 shares) – ₹9,21,600 |
| B-HNI Min | 9 lots (14,400 shares) – ₹10,36,800 |
Company Financials (₹ Crore)
Bar Chart: Revenue, PAT & Net Worth
Line Chart: Revenue, PAT & Net Worth
| Period Ended | Assets | Revenue | Profit After Tax | EBITDA | Net Worth | Reserves & Surplus | Total Borrowing |
|---|---|---|---|---|---|---|---|
| 31 Mar 2025 | 18.95 | 23.71 | 5.50 | 6.88 | 17.06 | 9.52 | |
| 31 Mar 2024 | 13.87 | 22.66 | 3.22 | 4.18 | 11.56 | 11.27 | 0.36 |
| 31 Mar 2023 | 10.82 | 21.37 | 2.94 | 3.97 | 8.36 | 8.07 |
Key Performance Indicators (KPI)
| KPI | Values |
|---|---|
| ROE | 38.46% |
| ROCE | 43.53% |
| RoNW | 32.26% |
| PAT Margin | 24.11% |
| EBITDA Margin | 30.17% |
| Price to Book Value | 4.70 |
| EPS (Pre IPO) | 7.30 |
| EPS (Post IPO) | 5.22 |
| P/E (Pre IPO) | 9.87 |
| P/E (Post IPO) | 13.8 |
Objects of the Issue
| S.No. | Objects of the Issue | Expected Amount (₹ Cr.) |
|---|---|---|
| 1 | Funding of capital expenditure towards setup of a new manufacturing facility | 14.63 |
| 2 | Funding of Working Capital Requirements | 4.00 |
| 3 | General Corporate Purpose | – |
About Mehul Colours Ltd.
Incorporated: 1995
Business: Manufacturing and exporting of masterbatches and pigments.
Products: White, black, color, and additive masterbatches for plastics, rubbers, and elastomers; organic and inorganic pigments for color, stability, and resistance.
Facilities: Two production units, Tungareshwar Industrial Estate, Vasai East, Mumbai; capacities: 10,56,000 kg & 2,28,000 kg.
Strengths: In-house manufacturing, integrated R&D/testing, diversified customer base, long-term relationships, experienced promoters.
Employees: 32 (as of June 30, 2025).
Promoters: Mehul Pravinchandra Joshi, Bhakti Mehul Joshi
- Integrated manufacturing & R&D facility
- Diversified customer base & industry reach
- Long-term customer relationships
- Experienced industry promoters
Contact Details
Unit No – A 305,306, Kemp Plaza, Link Road,
Chincholi Bunder Road, Mind Space,
Near Evershine Mall, Malad West
Mumbai, Maharashtra, 400064
Phone: +91-22-2872 3555
Email: info@mehulcolours.com
Website: https://www.mehulcolours.com/
Frequently Asked Questions (FAQ)
The price band for Mehul Colours IPO is ₹68 to ₹72 per share.
The IPO is scheduled to open for subscription on July 30, 2025, and close on August 1, 2025.
The minimum investment for retail investors is ₹2,30,400 (3,200 shares at the upper price band of ₹72 per share). The minimum lot size is 1,600 shares, but retail investors must apply for at least 2 lots (3,200 shares). For HNI, the minimum investment is ₹3,45,600 (4,800 shares or 3 lots).
You can apply for the IPO through:
- Your bank's net banking platform (ASBA facility)
- Brokerage accounts, using UPI or offline forms
- Registered investment platforms
- Designated branches of syndicate banks
Retail investors can bid at the cut-off price. Detailed instructions are available in the Red Herring Prospectus (RHP).
Mehul Colours Ltd. specializes in manufacturing and exporting masterbatches and pigments for plastics, rubbers, and elastomers. Its revenue sources include:
- White, black, color, and additive masterbatches for uniform color and enhanced properties (e.g., UV resistance, flame retardancy, anti-static behavior)
- Organic pigments for bright, vivid colors and inorganic pigments for durability and heat resistance
- Sales to industries like plastics, packaging, automotive, and textiles across domestic and export markets
The company operates two manufacturing facilities in Vasai East, Mumbai, with a combined capacity of 12,84,000 kg annually.
Key risks to consider include:
- Market risk: Dependence on the plastics and polymer industries, sensitive to raw material price fluctuations
- Competition: Intense competition from other masterbatch and pigment manufacturers
- Operational risk: Reliance on raw material supply and manufacturing efficiency
- Regulatory risk: Compliance with environmental and chemical safety regulations
- Export risk: Exposure to foreign exchange fluctuations and international market demand
Investors should review the risk factors in the RHP before investing.
The net proceeds from the fresh issue (₹20.56 Cr, excluding market maker portion) will be used for:
- Capital expenditure for a new manufacturing facility: ₹14.63 Cr
- Funding working capital requirements: ₹4.00 Cr
- General corporate purposes: Remaining amount
Mehul Colours has shown steady growth:
- Revenue growth: ₹21.37 Cr (FY23) to ₹22.66 Cr (FY24) to ₹23.71 Cr (FY25), a 5% increase from FY24 to FY25
- Profit after tax: ₹2.94 Cr (FY23) to ₹3.22 Cr (FY24) to ₹5.50 Cr (FY25), a 71% increase from FY24 to FY25
- Net worth: ₹8.36 Cr (FY23) to ₹11.56 Cr (FY24) to ₹17.06 Cr (FY25)
- Production capacity: 12,84,000 kg annually across two facilities in Mumbai
- 32 permanent employees as of June 30, 2025, with in-house R&D and testing capabilities
The company’s diversified customer base and focus on value-added masterbatches drive its growth.
As of March 31, 2025:
- Total borrowings: ₹0.36 Cr
- Debt-to-equity ratio: ~0.021 (based on net worth of ₹17.06 Cr)
- Revenue: ₹23.71 Cr, supporting strong financial stability
The company’s low debt levels and consistent revenue growth indicate a robust financial position.
The book running lead manager for the Mehul Colours IPO is Seren Capital Private Limited. The registrar is Bigshare Services Pvt Ltd, and the market maker is Asnani Stock Broker Private Limited.
Note: The information provided here is based on the RHP and available data as of July 26, 2025. For the most updated and accurate details, including subscription status and grey market premium, please refer to the Red Herring Prospectus (RHP) or consult with your financial advisor.
