True Colors Limited – IPO
True Colors Limited – IPO Details
| IPO Date | September 23, 2025 to September 25, 2025 |
| Listing Date | September 30, 2025 |
| Face Value | ₹ 10 / Share |
| Price Band | ₹ 181 to ₹ 191 / Share |
| Lot Size | 600 Shares |
| Total Issue Size | 66,99,600 shares (Aggregating up to ₹127.96 Cr) |
| Fresh Issue | 53,63,600 shares (Aggregating up to ₹102.44 Cr) |
| Offer for Sale | 10,00,000 shares of ₹10 (Aggregating up to ₹19.10 Cr) |
| Employee Discount | |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share holding pre issue | 1,89,55,000 shares |
| Share holding post issue | 2,46,54,600 shares |
| Market Maker portion |
True Colors Limited Timeline (Tentative Schedule)
True Colors Limited IPO opens on September 23, 2025, and closes on September 25, 2025.
| IPO Open Date | September 23, 2025 |
| IPO Close Date | September 25, 2025 |
| Basis of Allotment | September 26, 2025 |
| Initiation of Refunds | September 29, 2025 |
| Credit of Shares to Demat | September 29, 2025 |
| Listing Date | September 30, 2025 |
| Cut-off time for UPI mandate confirmation | September 25, 2025 |
True Colors Limited IPO Lot Size
Investors can bid for a minimum of 1,200 shares and in multiples of 600 shares thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 1,200 | Rs.229,200 |
| Retail (Max) | 2 | 1,200 | Rs.229,200 |
| S-HNI (Min) | 3 | 1,800 | Rs.343,800 |
| S-HNI (Max) | 8 | 4,800 | Rs.916,800 |
| B-HNI (Min) | 9 | 5,400 | Rs.1,031,400 |
| HNI (Min) |
True Colors Limited IPO Promoter Holding
| Share Holding Pre Issue | 94.87% |
| Share Holding Post Issue | 68.88% |
True Colors Limited IPO Reservation
True Colors IPO offers a total of 66,99,600 shares. Out of which 31,76,400 (47.41%) allocated to QIB, 12,70,800 (18.97%) allocated to QIB (Ex- Anchor), 9,57,600 (14.29%) allocated to NII, 22,29,600 (33.28%) allocated to RII, and 19,05,600 (28.44%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | |
|
| Market Maker Shares Offered | 3,36,000 (5.02%) |
|
| Other Shares Offered | |
|
| QIB Shares Offered | 31,76,400 (47.41%) |
|
| NII (HNI) Shares Offered | 9,57,600 (14.29%) |
|
| bNII > ₹10L | |
|
| sNII < ₹10L | |
|
| Retail Shares Offered | 22,29,600 (33.28%) |
|
| Employee Shares Offered | |
|
| Total Shares Offered | 66,99,600 (100.00%) |
True Colors Limited IPO Anchor Investors Details
True Colors IPO raises ₹36.40 crore from anchor investors. True Colors IPO Anchor bid date is September 22, 2025.
| Bid Date | 2025-09-22 |
| Shares Offered | |
| Anchor Portion Size (In Cr.) | 36.40 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 30, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 29, 2025 |
About True Colors Limited
Founded in October 2021, True Colors Limited imports and distributes digital textile printers and supplies digital textile printing industry products.
They provide digital textile printing solutions, such as machines, inks, and services, to businesses such as exporters, manufacturers, designers, and entrepreneurs.
Trust, technology, and transformation are what the company focuses on, with the aim of transforming these businesses and making them modern and big.
The business model of the company covers manufacturing and trading, with three pillars in digital textile printing:
Machinery & Ink Supply (Import & Distribution): Imports and distributes high-quality wide format digital textile printers of well-known brands such as KONICA MINOLTA, HOPETECH, ITTEN, PENGDA, and SKYJET.
Sublimation Inks: The sublimation inks are specifically developed for polyester fabrics and are meant for transfer printing.
Reactive Inks: The reactive inks provide deep colour saturation, fixation, and fastness for direct printing on natural fibres like cotton, viscose, and silk.
Disperse Inks: Designed for direct-to-fabric print on polyester fabric.
Digital Textile Printing: Provides digital printing of textiles for customers outsourcing requirements, with growth in printed fabric supply.
The company has established a presence in India through regional and service centers in major textile manufacturing hubs such as Surat, Amritsar, Panipat, Ludhiana, Delhi, Erode, Mumbai, Tirupur, Kolkata, and Varanasi.
Competitive Strength
Complete Digital Textile Value Chain.
Nationwide Reach and Instantaneous Service Support.
Loyal Customer Interaction and Recurring Revenues.
Advanced Manufacturing Plant and Supply Chain Management.
Seasoned Leadership augmented by Expert Management.
Key Performance Indicator
The market capitalization of True Colors IPO is ₹470.90 Cr.
| KPI | Values |
|---|---|
| ROE | 70.49% |
| ROCE | 35.94% |
| Debt/Equity | 0.86 |
| RoNW | 44.53% |
| P/BV | 6.53 |
| PAT Margin (%) | 5.15% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 13.03 | 10.02 |
| P/E (x) | 14.66 | 19.07 |
Note:
- The Pre IPO EPS is calculated based on Pre-IPO shareholding as on the date of RHP and the latest FY earnings as of March 31, 2025, that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2025, that is available in RHP.
Objects of the Issue (True Colors Limited IPO Objectives)
True Colors Limited Contact Details
True Colors Ltd. P-8, GR Flr to 3rd Flr Somakanjiini Wadi Patel Line Khatodara, Surat, Gujarat, 395002 Phone: +91 7069169145 Email: [email protected] Website: https://truecolorsgroup.com/ |
True Colors Limited IPO Registrar
Bigshare Services Pvt.Ltd. Phone: +91-22-6263 8200 Email: [email protected] |