True Colors IPO is a book-built issue worth ₹127.96 crores. The issue comprises a fresh issue of 0.57 crore equity shares totaling ₹108.86 crores, along with an offer for sale (OFS) of 0.10 crore shares amounting to ₹19.10 crores. The IPO opened for subscription on September 23, 2025, and will close on September 25, 2025. The share allotment is expected to be finalised on September 26, 2025.
The company's shares are proposed to be listed on both the BSE SME, with a tentative listing date of September 30, 2025. The price band for the True Colors IPO is set between ₹181 to ₹191 per share. The minimum lot size is 600 shares, requiring a minimum investment of ₹2,29,200 for retail investors.
True Colors is launching an IPO through a book-building process, aiming to raise ₹127.96 crores. The issue comprises a fresh issuance of 0.57 crore shares worth ₹108.86 crores, along with an offer-for-sale of 0.10 crore shares valued at ₹19.10 crores. The subscription window for the IPO opens on September 23, 2025, and closes on September 25, 2025, with the allotment expected to be finalized by September 26, 2025. The shares will be listed on the BSE SME platform, tentatively scheduled for September 30, 2025. The price band for the IPO is set between ₹181 and ₹191 per share, with a lot size of 600 shares.
The table below breaks down the True Colors share allocation for different categories, highlighting the number of shares and their percentage of the total issue. However, the key focus remains on the quotas allocated to retail investors and HNIs, as they are the most relevant for individual investors.
| Investor Category | Shares Offered |
| QIB (Qualified Institutional Buyers) | Not more than 50.00% of the Net Offer |
| Retail Individual Investors (Retail) | Not more than 35.00% of the Net Offer |
| NII (Non-Institutional Investors) | Not more than 15.00% of the Net Offer |
Data Source: NSE
| Category | Subscription (times) |
| Qualified Institutional Buyers | 28.83 |
| Non-Institutional Investors | 41.50 |
| Retail Individual Investors | 35.07 |
| Total shares | 34.02 |
Note: The subscription details are as of September 26, 2025
True Colors Limited, established in October 2021, specialises in importing and distributing digital textile printers and related supplies for the digital textile printing industry. The company provides comprehensive digital textile printing solutions—including machines, inks, and services—catering to a diverse clientele such as exporters, manufacturers, designers, and entrepreneurs. Committed to trust, technology, and transformation, True Colors aims to support businesses in modernizing their operations and driving growth.
Operating through a hybrid business model of manufacturing and trading, True Colors focuses on three core pillars within digital textile printing. First, it imports and distributes high-quality wide-format digital textile printers from renowned brands like KONICA MINOLTA, HOPETECH, ITTEN, PENGDA, and SKYJET.
Second, it offers a range of specialised inks tailored for various fabrics: sublimation inks for polyester fabrics designed for transfer printing; reactive inks that provide deep color saturation, fixation, and durability for direct printing on natural fibers such as cotton, viscose, and silk; and disperse inks engineered specifically for direct-to-fabric printing on polyester materials. Lastly, True Colors also provides digital textile printing services for customers outsourcing their printing needs and is actively expanding into the printed fabric supply market.
Know more about IPO allotment status and check your application details online for the latest updates on share allocation.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Sep 25, 2025, 3:20 PM IST
Sachin Gupta
Sachin Gupta is a Content Writer with 6+ years of experience in the stock market, including global markets like the US, Canada, and Australia. At Angel One, Sachin specialises in creating financial content that simplifies complex market trends. Sachin holds a Master's in Commerce, specialising in Economics.
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