True Colors IPO Details
The True Colors IPO is a book build issue with a total issue size of ₹127.96 cr, comprising of fresh issue of 5363600 equity shares., and a offer for sale of 1000000 equity shares. True Colors IPO opened for subscription on Sep 23, 2025 and closed on Sep 25, 2025. True Colors IPO is set price band at ₹181 to ₹191 per share, with a lot size of 600 shares. Minimum investment for Retail investors was ₹229,200.00 (at the upper price band) to apply for one lot.
The basis of allotment got finalized on Sep 26, 2025, and listed on both the NSE and BSE on Sep 30, 2025.
Bigshare Services Pvt Ltd has been appointed as the registrar. GYR Capital Advisors Private Limited are the Book Running Lead Manager for the issue.
Before investing in the True Colors IPO, investors should review the company's financial performance, business objectives, and risk factors mentioned in the offer documents and apply before the subscription window closes.
- Price Band
- ₹ 181 – 191
- Lot Size
- 600
- Issue Size
- ₹127.96 Cr
- Minimum Investment
- ₹229200 (1200 Shares)
- Listing Date
- 30 September 2025
Current GMP
₹5 (+2.62%)
*Info is indicative. Not an Investment Advice. Grey market trading is unregulated.
About True Colors Limited
True Colors Limited was incorporated in October 2021 and is engaged in importing, distributing, and providing solutions for the digital textile printing industry. The company offers a comprehensive range of digital textile printing machines, inks, and services, catering to exporters, manufacturers, designers, and entrepreneurs.
Driven by its core values of trust, technology, and transformation, True Colors aims to modernize the textile printing ecosystem and support businesses in scaling efficiently.
Business Model
True Colors operates on a dual model of manufacturing and trading, with three primary pillars in the digital textile printing segment:
- Machinery & Ink Supply (Import & Distribution)
- Imports and distributes advanced wide-format digital textile printers from globally recognized brands such as Konica Minolta, Hopetech, Itten, Pengda, and Skyjet.
- Inks Portfolio
- Sublimation Inks: Formulated for polyester fabrics, designed specifically for transfer printing applications.
- Reactive Inks: Deliver rich color saturation, fixation, and durability for direct printing on natural fibers like cotton, viscose, and silk.
- Disperse Inks: Developed for direct-to-fabric printing on polyester materials, ensuring vibrant prints and high performance.
- Digital Textile Printing Services
- Provides digital textile printing solutions for businesses looking to outsource their requirements.
- Expanding into printed fabric supply, catering to the growing demand for ready-to-use printed textiles.
Presence
The company has established a strong footprint across India with regional offices and service hubs located in key textile manufacturing clusters, including:
- Surat, Amritsar, Panipat, Ludhiana, Delhi, Erode, Mumbai, Tirupur, Kolkata, and Varanasi.
True Colors IPO Promoters
- Ashish Kumar Durlbhbhai Mulani
- Sanjay Raghubhai Desai
- Sagarkumar Bipinbhai Mulani
- Panchani Satishkumar Jayantibhai
Promoters Holding
Holding Pre Issue
94.87%
Holding Post Issue
68.88%
True Colors IPO Objective
The Company True Colors IPO proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Funding working capital requirements of our company
- Repayment/prepayment of all or certain of our borrowings availed of by our Company
- General corporate purposes
Address / Contact Info
True Colors Ltd.
P-8, GR Flr to 3rd Flr,Somakanjiini
Wadi Patel Line Khatodara,
Surat, Gujarat, 395002
Phone: +91 7069169145
Email: cs@truecolorsgroup.com
Website: https://truecolorsgroup.com/
IPO Snapshot
Book Running Lead Managers
- GYR Capital Advisors Private Limited
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
True Colors IPO is a Book-building IPO with a total issue size of ₹127.96 crore. The True Colors IPO price band is ₹181 to 191 per share. The True Colors IPO subscription opens on Tue, Sep 23, 2025, and closes on Thu, Sep 25, 2025. The True Colors IPO will be listed on the BSE. Bigshare Services Pvt Ltd is the registrar for the True Colors IPO.
The True Colors IPO opens on Tue, Sep 23, 2025 and closes on Thu, Sep 25, 2025
True Colors IPO Price Band is ₹181 to 191 per share.
True Colors IPO lot size is 600 shares, Retail investors need a minimum investment of ₹229200 based on the upper price band
The minimum investment for True Colors IPO is ₹229200, based on one lot of 600 shares at the upper price band of ₹191 per share.
Investors can apply for the True Colors IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Thu, Sep 25, 2025. The application amount remains blocked until the True Colors IPO allotment is finalized.
True Colors IPO issue size is ₹127.96 crores.
True Colors IPO allotment date is Wed, Jul 1, 2026.
The registrar for True Colors IPO is Bigshare Services Pvt Ltd. Investors can go to Bigshare Services Pvt Ltd website to check True Colors IPO allotment status, refund processing, and other IPO-related information.
The True Colors IPO GMP (Grey Market Premium) is ₹5 as of Tue, Sep 30, 2025. Based on the upper price band of ₹191 per share, the estimated True Colors IPO listing price is ₹196, indicating a potential listing gain of approximately 0% over the issue price.