True Colors IPO Will Open On Sep 25, 2025 And Close On Sep 29, 2025. The ₹113.64 Cr. IPO Is A Fresh Offer. True Colors IPO Price Band is Set At ₹181 to ₹191 Per share.
The Allotment Will Be Finalized On Sep 30, 2025 and Listing date is Expected on The BSE SME By Oct 03, 2025. Investor Quota like 50.00% QIB, and 35.00% Retail 15.00 HNI is Category.
Financial Year 2025 Company Posted a Revenue of ₹234.05 Cr. and A Net Profit of ₹24.69 Cr. Showing Strong Growth From The Previous Year. Based On Financial, The IPO Looks Promising For Long-term Investors.
True Colors IPO Dates & Price Band Details
| Open Date | Sep 25, 2025 |
|---|---|
| Close Date | Sep 29, 2025 |
| Price Band | ₹181 to ₹191 per share |
| Face Value | ₹10 per equity share |
| Lot Size | 600 Shares |
| Minimum Investment | ₹1,14,600 (for 1 lot at ₹191) |
| Type of Issue | Fresh Issue and OFS |
| Market Maker | 3,36,000 shares (Approx ₹6.42 Cr) |
| Total Issue Size | 59,49,600 shares (Approx ₹113.64 Cr) |
| Fresh Issue | 53,63,600 shares (Approx ₹102.44 Cr) |
| Offer For Sale | 2,50,000 shares of ₹10 (Approx ₹4.78 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing Exchange | BSE SME |
| Retail Investor Quota | 35% |
| QIB Quota | 50% |
| NII (HNI) Quota | 15% |
| Anchor Investor List | Click Here |
| DRHP (Draft Prospectus) | Click Here |
| RHP (Final Prospectus) | Click Here |
About True Colors Limited
Our Company was originally incorporated on Oct 02, 2021 “True Colors Limited” engaged in the business of import and distribution of digital textile printers and manufacturing and supplying of products related to digital textile printing industry.
Our business model includes manufacturing as well as trading that covers the following three key pillars in the digital textile printing industry such as: –
a) Machinery & Ink Supply (Import & Distribution): We import and distribute high-quality wide format digital textile inkjet printers from globally recognized brands such as KONICA MINOLTA, HOPETECH, ITTEN, PENGDA and SKYJET.
Sublimation Inks – Specially formulated for polyester fabrics, our sublimation inks are designed for transfer printing applications.
Reactive Inks – Used for direct printing on natural fibers such as cotton, viscose, and silk, our reactive inks deliver deep color saturation, excellent fixation, and superior color fastness.
Disperse Inks – Engineered for direct-to-fabric printing on polyester materials, our disperse inks enable rich color development and high-definition print results.
b) Sublimation Paper Manufacturing & Supply: We have established an in-house sublimation paper manufacturing unit, a critical component in the digital textile printing process.
c) Digital Textile Printing: We provide digital textile printing for customers who prefer to outsource their printing needs and in addition to it we have increased our scope to printed fabric supply.
Job-Work Printing- Printing on fabrics supplied by clients.
Printed Fabric Supply- Printing and supplying of custom-printed fabrics.
Digital textile printing, also known as direct-to-garment (DTG) or digital garment printing, is a modern technique that involves transferring a variety of digital images and designs directly onto textiles and garments using specialized or adapted inkjet technology.
True Colors IPO Market Lot Size
The Minimum Lot Size For The True Colors IPO is 1,200 Shares, Requiring An Application Amount of ₹2,29,200 and in multiples of 600 For Retail Investors. Investors Must Apply in Multiples of The Lot Size.
| Application | 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 Maxmum | 8 | 4,800 | ₹9,16,800 |
| B-HNI Minimum | 9 | 5,400 | ₹10,31,400 |
Objects Of The Issue
1. Funding working capital requirements of our company.
2. Repayment/prepayment of all or certain of our borrowings availed by our Company.
3. General corporate purposes.
True Colors IPO Allotment & Listing Dates
True Colors IPO Will Open on Sep 25 and Close on Sep 29, 2025. The allotment is Expected on Sep 30, With the Listing Scheduled on BSE SME For Oct 03, 2025 (More information below table).
| Anchor Investor Bidding | Wed, Sep 24, 2025 |
|---|---|
| IPO Open | Thu, 25 Sep 2025 |
| IPO Close | Mon, 29 Sep 2025 |
| Allotment Finalisation | Tue, 30 Sep 2025 |
| Refunds / Unblocking | Wed, 1 Oct 2025 |
| Shares Credited to Demat | Wed, 1 Oct 2025 |
| Listing Date | Fri, 3 Oct 2025 |
True Colors IPO Financial Report (FY 2025)
True Colors Reported a total Revenue of ₹234.05 Cr. in FY 2025, Slightly up From ₹160.91 Cr. in FY 2024. The Company Net Profit Also Rose to ₹24.69 Cr. From ₹8.25 Cr. in the Previous Year Showing Consistent Financial Growth Ahead of its IPO. (More information below table).
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets (Total) | 154.97 | 105.91 | 45.53 |
| Revenue | 234.05 | 160.91 | 80.94 |
| Profit After Tax | 24.69 | 8.25 | 3.92 |
| EBITDA | 40.91 | 14.50 | 5.67 |
| Net Worth | 55.45 | 14.61 | 6.37 |
| Reserves and Surplus | 36.50 | 14.14 | 5.90 |
| Total Borrowing | 47.51 | 56.56 | 20.04 |
| (₹ Million) |
True Colors IPO Valuation Report – FY 2025 (KPI)
Check Detailed True Colors IPO Valuation Metrics for FY 2025, including EPS, P/E Ratio, RoNW, NAV, ROCE, and other key financial indicators. These Ratios help Investors Assess the Company financial Health & Valuation Before applying for The IPO. (More information below table).
| KPI | Value |
|---|---|
| Return on Equity (ROE) | 70.49% |
| Return on Capital Employed (ROCE) | 35.94% |
| EBITDA Margin | 17.48% |
| PAT Margin | 5.15% |
| Debt-to-Equity Ratio | 0.86 |
| Earnings Per Share (EPS) | 13.03 |
| Price to Earnings Ratio (P/E) | 14.66 |
| Return on Net Worth (RoNW) | 44.53% |
Our Competitive Strengths
Diversified customer base and long-standing relationship with our customers.
Efficient Supplier network.
Wide Geographic presence.
Experienced Promoter Directors with extensive domain knowledge.
Track record of delivering growth and profitability.
Our Company Promoters
- Mr. Ashishkumar Durlbhbhai Mulani
- Mr. Sanjay Raghubhai Desai
- Mr. Sagarkumar Bipinbhai Mulani
- Mr. Panchani Satishkumar Jayantibhai
Comparison of Accounting Ratios with Industry Peers
N\A
Also Read: True Colors IPO GMP Today, Grey Market Premium Live
True Colors Company Contact Details
Registered Office: P-8, Ground Floor to 3rd Floor,
Somakanjiini Wadi Patel Line Khatodara, Surat,
Surat, Gujarat, India, 395002
Telephone: +91-7069169145
E-mail cs@truecolorsgroup.com
Website: https://truecolorsgroup.com/
True Colors Lead Manager
GYR CAPITAL ADVISORS PRIVATE LIMITED
428, Gala Empire, Near JB Tower, Drive in Road,
Thaltej, Ahmedabad -380 054, Gujarat, India.
Telephone: +91 87775 64648
E-mail: info@gyrcapitaladvisors.com
Website: www.gyrcapitaladvisors.com
True Colors IPO Registrar
BIGSHARE SERVICES PRIVATE LIMITED
Address: Office No. S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali CavesRoad,
Andheri East, Mumbai – 400 093,Maharashtra, India
Telephone: 022-62638200
E-mail id: ipo@bigshareonline.com
Website: www.bigshareonline.com
True Colors IPO FAQs
Question 1: What is the True Colors IPO?
Answer 1:True Colors IPO is a SME IPO of 59,49,600 equity shares of the face value of ₹10 approximately up to ₹113.64 Cr. The issue is priced at ₹181 to ₹191 per share.
The True Colors IPO opens on Sep 25, 2025 and closes on Sep 29, 2025.
Cameo Corporate Service Limited is the registrar for the IPO. The shares to be listed on BSE SME.
Question 2: How to apply in True Colors IPO through Groww?
Answer 2: Groww customers can apply online in True Colors IPO using UPI as a payment gateway. Groww customers can apply in True Colors IPO by login into Groww (back office) and submitting an IPO application form.
Steps to apply in True Colors IPO through Groww –
- Visit the Groww website and login to Groww.
- Go to Main Page and click the Products & tools and click IPO tab.
- New page Open and Show ‘True Colors IPO’ click the ‘Apply’ button.
- Show IPO detail Shares lot Size and Bid Price & click here to Cutoff Price check Box and Continue.
- Inter Your UPI id like . 95****299@kotak accept terms and condition click Box and Apply For IPO
- groww share payment link Your UPI Mobile Number Pay Payment for IPO Bid to approve the e-mandate successfully submit application .
Question 3: When True Colors IPO will open?
Answer 3: The True Colors IPO opens on Sep 25, 2025, and closes on Sep 29, 2025.
Question 4: What is the lot size of True Colors IPO?
Answer 4:True Colors IPO lot size and the minimum order quantity is 600 Shares.
Question 5: How to apply for True Colors IPO?
Answer 5: You can apply in True Colors IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don’t offer banking services. Read more detail about applying IPO online through Groww, Zerodha, Upstox, 5Paisa, Phonepe Share Market, HDFC Bank, and Angel one.
Question 6: When is True Colors IPO allotment date?
Answer 6: The Basis of Allotment for True Colors IPO will be on Tue, Sept 30, 2025, and the allotted shares will be credited to your demat account by Wed, Oct 01, 2025. For Check the True Colors IPO allotment status.
Question 7: When is True Colors IPO listing date?
Answer 7: The True Colors IPO listing date is Oct 03, 2025. The date of True Colors IPO listing on Fri, Oct 03, 2025.
