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True Colors Limited IPO

True Colors Limited IPO

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Listed Price: ₹ 191.00 (+0.00%)

The public market debut of True Colors Limited's was completed on 30-09-2025 with its listing on the BSE exchange. The IPO process raised 66,99,600 Shares in total capital, consisting of 56,99,600 Shares in new equity and ₹19.10 Cr in existing share sales through the OFS route.

The offering featured a price range of ₹181 to ₹191 and minimum application size of 600 shares. Investor response during the subscription period from 23-09-2025 to 25-09-2025 influenced the final allotment ratios across investor categories.

Final allotment was announced on 26-09-2025, distributing shares to successful subscribers. The listing established a continuous market for the company's shares, enabling liquidity, valuation transparency, and broader investor participation.

True Colors IPO Details
Lot(s) Distribution

Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.

IPO Reservation
True Colors IPO Key Performance Indicator
Company Financials ( In Crores )

True Colors IPO About Company

True Colors Limited, established in October 2021, is engaged in importing and distributing digital textile printers, inks, and related solutions for the textile printing industry. It caters to exporters, manufacturers, designers, and entrepreneurs by offering machinery from global brands, along with sublimation inks for polyester, reactive inks for natural fibers, and disperse inks for polyester fabrics. The company also provides digital textile printing services and is expanding into printed fabric supply. With a focus on trust, technology, and transformation, it operates through a mix of manufacturing and trading and has built a strong presence across India with offices and service hubs in key textile hubs such as Surat, Amritsar, Panipat, Ludhiana, Delhi, Erode, Mumbai, Tirupur, Kolkata, and Varanasi.

Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."

True Colors IPO Strength Factors

  1. End-to-End Digital Textile Printing Solutions – Covers the entire value chain from machine distribution to inks, sublimation paper, and printing services, ensuring consistent quality and customer satisfaction.
  2. Pan-India Presence with Fast Technical Support – Regional offices and service centers in key textile hubs enable quick assistance, timely spare parts, and uninterrupted supply to reduce downtime.
  3. Strong Customer Loyalty & Recurring Revenue – B2B relationship-driven model with continuous supply of consumables ensures repeat orders and steady business growth.

True Colors IPO Risk Factors

  1. Customer Dependence & Contract Risk – Reliance on short-term orders without long-term contracts exposes the business to fluctuations, cancellations, and unpredictable demand.
  2. Raw Material Cost Sensitivity – Volatility in raw material prices can adversely affect margins and overall financial performance.
  3. Revenue Concentration in Ink & Machine Sales – Significant revenue from inks and digital printing machines means any decline in demand for these products could impact overall business results.

True Colors IPO Lead Manager(s)

  • GYR Capital Advisors Private Limited

True Colors IPO Promoter(s)

  1. Ashish Kumar Durlbhbhai Mulani
  2. Sanjay Raghubhai Desai
  3. Sagarkumar Bipinbhai Mulani
  4. Panchani Satishkumar Jayantibhai

True Colors IPO Company Details

True Colors Limited
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True Colors IPO Registrar

Bigshare Services Private Limited
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True Colors IPO FAQs