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True Colors Limited
44.33xsubscribed

True Colors Limited

Chemicals
listed
₹2.17LMin. investment

True Colors Limited IPO Details

SectorChemicals
Price range₹181 – ₹191
IPO type
SME
Lot size600 shares
Issue size₹127Cr
Red Herring Prospectus
Read
Market cap
₹470.9CrLower than sector avg
RevenueApr 2024 - Mar 2025
₹233.66CrLower than sector avg
Growth rate3Y CAGR
70.20%

True Colors Limited Subscription Status

Date
QIB
NII
Retail
Total
23-Sep-25
0.3 times (X)
0.54 times (X)
1.63 times (X)
2.02 times (X)
24-Sep-25
0.32X
3.1X
7.39X
5.57X
25-Sep-25
1.27X
48.58X
42.32X
44.33X

As on 23-Sep-25, 5:30 PM

True Colors Limited Timeline

  1. Pre-apply
    22 Sep 2025
  2. Bid start
    23 Sep 2025
  3. Bid end
    25 Sep 2025
  4. Allotment
    26 Sep 2025
  5. Release of funds
    29 Sep 2025
  6. Demat transfer
    29 Sep 2025
  7. Listing
    30 Sep 2025

About True Colors Limited

True Colors Limited is engaged in the import and distribution of digital textile printers and the manufacturing and supplying of products related to the digital textile printing industry. Ink sales were the largest revenue contributor at 30.60% followed by Sublimation paper sales at 28.14% in FY25. The company sold 89 machines in FY25 as compared to 102 machines in FY24. It has established an in-house sublimation paper manufacturing unit to reduce dependency on third-party suppliers. Sublimation papers are offered in 30 to 100 GSM with 36 to 72 inches in width. The company has a presence across India's regional offices and service hubs in key textile manufacturing centres. Gujarat remains the largest revenue contributor at 63.90% of revenue, followed by Maharashtra at 15.43% in FY25.

Checklist

Quality analysis
Revenue growth
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Risk analysis
Debt to Equity ratio
Promoter holdings
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Objectives of True Colors Limited IPO

Working capital
44.92%
The company will utilise ₹48.90 crore for working capital requirements.
Repayment of loans
38.43%
The company will use ₹41.83 crore towards repayment of borrowings.
General corporate purposes
16.70%
Part of the IPO proceeds will be used for general corporate purposes.

Compare

CompanyRevenue*3Y growthPATMarket capP/E ratioD/E ratio
This IPO₹233.66Cr70.20%₹24.69Cr₹470.9Cr13.870.86
This sector (avg.)₹778.53Cr0%₹63.39Cr₹4,831.31Cr115.610.47
₹13,140.31Cr---₹2,096.17Cr₹1,45,645.1Cr65.540.05
₹7,540.26Cr---₹1,287.93Cr₹1,21,980.6Cr92.360.22
₹14,693.07Cr---₹1,250.78Cr₹83,482.13Cr46.920.37

*Revenue for financial year 2024-25. Lower P/E and D/E ratios are generally preferred.

True Colors Limited Contact Details

Company NameTrue Colors Limited

How to apply for True Colors Limited?

  1. Step 1

    Log in to your Upstox account to access IPO investments. Next, select the current IPO section.

  2. Step 2

    Specify IPO details. Enter the number of lots and the price you wish to apply for.

  3. Step 3

    Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.

  4. Step 4

    Mandate Notification. Your UPI app will receive a mandate notification to block funds.

  5. Step 5

    Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.

True Colors Limited IPO FAQs