31 Mar 2023
Assets45.53
Total Income80.94
EBITDA5.67
Profit After Tax3.92
NET Worth6.37
Reserves and Surplus5.90
Total Borrowing20.04
At a glance
Updated 2026-08-24True Colors is a SME IPO with an issue size of ₹127.96 crore, proposed for listing on BSE SME. The offer opens on 23rd Sep 2025 and closes on 25th Sep 2025. The issue structure includes a fresh issue of ₹102.44 crore and an offer-for-sale component of ₹19.10 crore.
Issue details
Listing atBSE SME
Issue typeBook Build Issue
Issue size₹127.96 Cr
Fresh issue₹102.44 Cr
Offer for sale₹19.10 Cr
Face value₹10
Price band₹181.00–₹191.00
Allotment26th Sep 2025
Listing30th Sep 2025
Grey market
GMP page ↗Latest GMP₹5.00
GMP / upper price2.62%
Est. listing₹196.00
GMP is unofficial sentiment data, not an exchange price.
Timeline
Opens23rd Sep 2025
Closes25th Sep 2025
Allotment26th Sep 2025
Refund29th Sep 2025
Demat29th Sep 2025
Listing30th Sep 2025
Subscription demand
Full bidding ↗Total45.46×
Lot size
| Investor | Lots | Shares | Amount |
|---|---|---|---|
| Minimum Bid | 1 | 1200 | ₹229,200 |
Company
Use of proceeds
| Object | Amount |
|---|---|
| Funding working capital requirements of the Company | ₹48.90 Cr |
| Repayment/prepayment of all or certain of borrowings availed of by the Company | ₹41.83 Cr |
| General Corporate Purposes | ₹9.97 Cr |
| Issue Expenses | ₹9.59 Cr |
| Total | ₹110.29 Cr |
Financials
Full financials ↗31 Mar 2024
Assets105.91
Total Income160.91
EBITDA14.50
Profit After Tax8.25
NET Worth14.61
Reserves and Surplus14.14
Total Borrowing56.56
31 Mar 2025
Assets154.97
Total Income234.05
EBITDA40.91
Profit After Tax24.69
NET Worth55.45
Reserves and Surplus36.50
Total Borrowing47.51
Trend chart₹ crore
KPIs
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 70.49% |
| ROCE | 35.94% |
| Debt / Equity | 0.86% |
| RoNW | 44.53% |
| PAT Margin | 5.15% |
| EBITDA Margin | 17.48% |
| Price to Book Value | 6.53 |
Valuation & shareholding
Pre-IPO EPS13.03
Post-IPO EPS10.02
Pre-IPO P/E14.66
Post-IPO P/E19.07
Promoter holding pre94.87%
Promoter holding post68.88%
Market cap₹470.90 Cr.
Issue expenses
| Expense | Amount |
|---|---|
| Funding working capital requirements of the Company | ₹48.90 Cr |
| Repayment/prepayment of all or certain of borrowings availed of by the Company | ₹41.83 Cr |
| General Corporate Purposes | ₹9.97 Cr |
| Issue Expenses | ₹9.59 Cr |
| Total | ₹110.29 Cr |
Registrar & lead managers
Registrar
Bigshare Services Pvt.Ltd.Lead managers
- GYR Capital Advisors Pvt.Ltd.
Offer documents
Data is reconciled from multiple public IPO sources. Official exchange filings and offer documents remain the source of truth. Last verified 2026-08-24.