True Colors IPO
True Colors IPO
Overview
True Colors IPO is a book build issue of ₹127.96 crores. The issue is a combination of fresh issue of 0.57 crore shares aggregating to ₹108.86 crores and offer for sale of 0.10 crore shares aggregating to ₹19.10 crores. True Colors IPO opens for subscription on Sep 23, 2025 and closes on Sep 25, 2025. The allotment for the True Colors IPO is expected to be finalized on Sep 26, 2025. True Colors IPO will list on BSE SME with a tentative listing date fixed as Sep 30, 2025. True Colors IPO price band is set at ₹181.00 to ₹191.00 per share . The lot size for an application is 600. The minimum amount of investment required by an individual investor (retail) is ₹2,29,200.00 (1,200 shares) (based on upper price). The minimum lot size investment for HNI is 3 lots (1,800 shares), amounting to ₹3,43,800. GYR Capital Advisors Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The market maker of the company is Giriraj Stock Broking Pvt.Ltd..
Total Shares
66,99,600
Issue Size
₹127.96 Cr
Price Band
₹181 – ₹191
Lot Size
600 shares
Min. Investment
₹2,29,200
Max. Investment
₹2,29,200
Open Date
23 Sep, 2025
Close Date
25 Sep, 2025
Allotment
26 Sep, 2025
Listing
30 Sep, 2025
Max. Investment
₹2,29,200
Announced
23 Sep, 2025
Opening Date
23 Sep, 2025
Closing Date
25 Sep, 2025
Basis of Allotment
26 Sep, 2025
Initiation of Refunds
29 Sep, 2025
Credit of Shares
29 Sep, 2025
Listing Date
30 Sep, 2025
Live GMP
Est. Listing: ₹236
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About True Colors IPO
Incorporated in October 2021, True Colors Limited imports and distributes digital textile printers and supplies products for the digital textile printing industry.
They offer digital textile printing solutions, including machines, inks, and services, targeting businesses like exporters, manufacturers, designers, and entrepreneurs.
The company emphasises trust, technology, and transformation, aiming to help these businesses modernise and grow.
The company's business model enc
True Colors IPO Share Price
Issue Breakdown
Shareholding
Dilution: 30.1% increase in shares
True Colors IPO Promoters Holding
True Colors IPO Financial Health
True Colors Ltd.'s revenue increased by 45% and profit after tax (PAT) rose by 199% between the financial year ending with March 31, 2025 and March 31, 2024.
True Colors 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 |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 1200 | ₹2,29,200 |
| Individual investors (Retail) (Max) | 2 | 1200 | ₹2,29,200 |
| S-HNI (Min) | 3 | 1800 | ₹3,43,800 |
| S-HNI (Max) | 8 | 4800 | ₹9,16,800 |
| B-HNI (Min) | 9 | 5400 | ₹10,31,400 |
(All values in CR)
True Colors IPO Valuations
The market capitalization of True Colors IPO is ₹470.90 Cr. KPI as of Mon, Mar 31, 2025.
| Metric | Value |
|---|---|
| ROE | 70.49 |
| ROCE | 35.94 |
| Debt/Equity | 0.86 |
| RoNW | 44.53 |
| PAT Margin | 5.15 |
| EBITDA Margin | 17.48 |
| Price to Book Value | 6.53 |
(All values in CR)
True Colors IPO Strength & Risk
True Colors IPO Strength:
Innovative product portfolio including digital textile printing machinery, inks, and sublimation paper.
Established market presence with rapid expansion since inception.
Strong financial performance with growing revenue and profit.
Experienced management team with domain expertise and proven track record.
Commitment to sustainability and eco-friendly practices.
True Colors IPO Risk:
Customer concentration with significant revenue from select business units.
Raw material price volatility affecting operational costs and margins.
Lack of long-term contracts, making revenue susceptible to order cancellations or changes.
Operational risks from dependence on leased premises and potential delays in facility setups.
True Colors IPO GMP
True Colors SME IPO last GMP is ₹45, last updated Sep 23rd 2025 05:37 PM. With the price band of 191.00, True Colors SME IPO's estimated listing price is ₹236 (cap price + today's GMP).The expected percentage gain/loss per share is 23.56%. >> True Colors SME IPO Retail Subject to Sauda: ₹20500 The lowest GMP is ₹0.00, while the highest GMP is ₹45.00.
Last updated 23 Sep, 2025 · Source: aggregated grey-market dealers
| Date | IPO Price | GMP | Sub2 Sauda | Est. Listing | Est. Profit | Updated |
|---|---|---|---|---|---|---|
| 23 Sep, 2025 | 191 | ₹45 | 20500 | ₹236 (23.56%) | 27000 | 23 Sep, 2025 |
| 22 Sep, 2025 | 191 | ₹45 | 20500 | ₹236 (23.56%) | 27000 | 22 Sep, 2025 |
| 21 Sep, 2025 | 191 | ₹45 | 20500 | ₹236 (23.56%) | 27000 | 21 Sep, 2025 |
| 20 Sep, 2025 | 191 | ₹45 | 20500 | ₹236 (23.56%) | 27000 | 20 Sep, 2025 |
| 19 Sep, 2025 | 191 | ₹45▲ | 20500 | ₹236 (23.56%) | 27000 | 19 Sep, 2025 |
| 18 Sep, 2025 | 191 | ₹35▲ | 16000 | ₹226 (18.32%) | 21000 | 18 Sep, 2025 |
| 17 Sep, 2025 | 191 | ₹0 | - | ₹191 (0.00%) | - | 17 Sep, 2025 |
Disclaimer: GMP is an unofficial signal from grey-market dealers and is not regulated by SEBI. Use it alongside subscription data and other research for informed decision-making.
How to Apply for True Colors IPO
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Go to IPO Section
Find True Colors IPO under the IPO section. Select it and enter your bid details — choose lot size and price (cut-off price recommended).
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Provide your UPI ID linked to your bank account and submit the application.
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Application Confirmed
Your funds will be blocked in your account until the IPO allotment process is completed.