True Colors IPO Details
The key details of True Colors’s IPO are outlined below, covering all crucial aspects from price range to investment requirements and regulatory documents.
| IPO Size | ₹127.96 Cr |
| Price Range | ₹181 - ₹191 |
| Retail Quota | 35% |
| QIB Quota | 50% |
| NII Quota | 15% |
| Employee Discount | -- |
| Listing at | BSE |
| Minimum Quantity | 1,200 |
| Investment (cut-off price) | ₹2,29,200 |
| Pre IPO Promotor Holding | 94.87% |
| Post IPO Promotor Holding | 68.88% |
| DHRP Draft | Click Here |
| RHP Draft | Click Here |
| Anchor Investors List | Click Here |
True Colors IPO Timelines
The IPO process for True Colors includes key dates for participants to know. The timeline allows for strategic planning and participation, helping investors stay informed and engaged throughout the entire process.
23/09/2025
Start Date25/09/2025
End Date29/09/2025
Refund Initiation29/09/2025
Credit of Shares to Demat Ac30/09/2025
Listing DateTrue Colors IPO Lot Size
The True Colors IPO has a fixed lot size of 600 shares, at an upper price band of ₹191 per share. For retail investors, the minimum and maximum application is 1,200 shares (2 lots) amounting to ₹2,29,200. For Small HNI (S-HNI) investors, the minimum application is 1,800 shares (3 lots) worth ₹3,43,800, while the maximum is 4,800 shares (8 lots) amounting to ₹9,16,800. Big HNI (B-HNI) investors need to apply for at least 5,400 shares (9 lots), totaling ₹10,31,400.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 1200 | ₹2,29,200 |
| Retail Maximum | 2 | 1200 | ₹2,29,200 |
| S-HNI Minimum | 3 | 1800 | ₹3,43,800 |
| S-HNI Maximum | 8 | 4800 | ₹9,16,800 |
| B-HNI Minimum | 9 | 5400 | ₹10,31,400 |
True Colors IPO Subscription Status
The subscription status for True Colors IPO shows market demand across different investor categories, providing valuable insights into the offering’s performance. You can track real-time subscription data below.
| QIB | NII | Retail | EMP | Total |
|---|---|---|---|---|
IPO Performance on Listing Day
| Opening Price | Closing Price | Day High | Day Low |
|---|---|---|---|
| ₹ | ₹ | ₹ | ₹ |
True Colors IPO Company Financials
True Colors reports robust performance in FY2025 with Total Income of ₹234.05 crores, managing expenses at ₹200.98 crores, and achieving a strong PAT (Profit After Tax) of ₹24.69 crores, demonstrating significant growth potential ahead of its public offering.
| Year | Total Income | Total Expense | PAT |
|---|---|---|---|
| FY 2023 | ₹80.94 | ₹75.47 | ₹3.92 |
| FY 2024 | ₹160.91 | ₹149.43 | ₹8.25 |
| FY 2025 | ₹234.05 | ₹200.98 | ₹24.69 |
About Company
True Colors Limited, incorporated in October 2021, is engaged in importing and distributing digital textile printers and related supplies for the digital textile printing industry. The company provides comprehensive solutions including machinery, inks, and services, catering to exporters, manufacturers, designers, and entrepreneurs. With a focus on trust, technology, and transformation, True Colors Limited aims to help these businesses modernise their operations and support growth through advanced printing solutions.
The company’s business model combines manufacturing and trading, built around three core areas in digital textile printing. It supplies high-quality wide-format digital textile printers from global brands such as KONICA MINOLTA, HOPETECH, ITTEN, PENGDA, and SKYJET. The ink portfolio includes sublimation inks for polyester fabrics, reactive inks for natural fibres like cotton and silk, and disperse inks for direct printing on polyester materials. Additionally, the company offers digital textile printing services for clients with outsourcing needs and is expanding into printed fabric supply. True Colors Limited has established a strong national presence through regional offices and service hubs in major textile hubs including Surat, Amritsar, Panipat, Ludhiana, Delhi, Erode, Mumbai, Tirupur, Kolkata, and Varanasi.
| Incorporation Date | Sector | Managing Director |
|---|---|---|
| 2021 | Chemicals | Sanjay Desai |
Know Before Investing
True Colors IPO Strengths
- Operates a three-pillar business model integrating import and distribution of digital textile printers, manufacturing of sublimation paper, and digital textile printing services, providing a comprehensive ecosystem in textile technology.
- Imports and distributes advanced digital textile printers from reputed global brands, providing clients with access to modern printing technology.
- The sublimation paper manufacturing unit has a large installed capacity, with high utilization rates demonstrating operational efficiency.
- Serves varied segments including fashion, sportswear, home interiors, and industrial fabrics, reducing dependency on any single industry.
- Provides not only machines but also consumables like specialized inks and substrates, which can generate recurring revenue streams.
True Colors IPO Risks
- The company imports digital textile printing machinery, exposing it to risks from foreign exchange fluctuations, freight delays, and customs duty changes that can affect costs and delivery timelines.
- Depends on a few key international suppliers for printers and related equipment means any change in pricing, terms, or supply priorities could disrupt inventory and sales.
- As the installed base of printers grows, there will be increasing pressure to provide timely, skilled maintenance and spare parts, which may require significant investment and operational scaling.
- The digital textile printing sector experiences frequent product upgrades and emerging local competitors offering lower-cost alternatives, which can compress margins on existing products.
- The company’s business depends on purchase orders without long-term contractual commitments, exposing revenue to business cycle fluctuations and customer demand variability.
- Cost fluctuations in inks, sublimation paper, and other consumables can impact profitability, especially if price increases cannot be fully passed to customers.
Swot Analysis for True Colors IPO
Strengths
Robust Revenue Growth, Strong Technical and Customer Support Team, Sustainability and Green Energy
Weaknesses
Geographic Concentration, Capital Intensive Operations, Technological Change Risk
Opportunities
Expanding Digital Textile Market, International Market Penetration, E-commerce and Digital Marketing
Threats
Intense Market Competition, Raw Material and Component Supply Risks, Rapid Technological Changes
Company Details
True Colors Ltd.
P-8, Ground Floor to 3rd Floor, Somakanjiini Wadi Patel Line Khatodara, Surat, Surat, Gujarat, India, 395002
Phone: +91 7069169145
Email: cs@truecolorsgroup.com
Website: https://truecolorsgroup.com/
IPO Registar Details
Bigshare Services Pvt. Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
FAQs
The key objectives of True Colors SME IPO are:
- Funding working capital requirements of the company
- Repayment/prepayment of all or certain of our borrowings availed of by the Company
- General corporate purposes
GYR Capital Advisors Pvt. Ltd. is the book-running lead managers for the True Colors IPO.
True Colors IPO reflects strong growth potential with revenue rising to ₹233.66 crore and net profit reaching ₹24.69 crore in FY25. Its integrated digital textile printing model positions it well amid rising sustainability trends, though global supply chain reliance and competitive pressures remain key risks.
The issue price for the True Colors IPO is set between ₹181 to ₹191 per share.
To invest in two lot of True Colors IPO, you need ₹2,17,200 at the lower price band (₹181 per share) or ₹2,29,200 at the upper price band (₹191 per share) for a lot size of 1200 shares.
True Colors IPO shares are scheduled to be listed on the Bombay Stock Exchange (BSE) on September 30, 2025.
Refund/unblocking of funds for True Colors IPO will begin on September 29, 2025. ASBA/UPI blocks will be removed within 1 working day.
You can sell shares your True Colors IPO shares on listing day (September 30, 2025) after they are credited to your demat account. If you want to sell in the pre-open market, the timing for that session is from 9:00 AM to 9:15 AM. Otherwise, you can sell after 10:00 AM during regular trading hours.