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True Colors caters to the Textile Industry; engaged in the business of import and distribution of digital textile printers. The Indian digital printing market is expected to grow at a substantial CAGR of 13% between 2023 and 2033, fueled by the textile sector and well-established textile mill clusters in the region.
The company has built a self-sustaining ecosystem that allows customers to access machines and consumables (inks & sublimation paper), digital textile printing for custom fabric requirements, and after-sales service, technical support & spare parts. This structure ensures operational efficiency, strengthens customer relationships, and makes them a one-stop solution for digital textile printing. Factors such as cost-effectiveness, durability, and rapid printing speeds position digital textile printing as a prominent player in India’s dynamic textile industry over the next decade. The segment is experiencing substantial growth due to its ability to produce high-quality colors, especially when printing on cotton or viscose, and achieve high wash fastnesses.
| Revenue | ₹160.08 cr | ₹233.54 cr (+45.89%) | |
| PAT | ₹8.25 cr | ₹24.69 cr (+199.27%) | |
| PAT Margin | 5.15 % | 10.57 % (+105.24%) | |
| EBITDA | ₹14.50 cr | ₹40.91 cr (+182.14%) | |
| EBITDA Margin | 9.06 % | 17.52 % (+93.38%) | |
| ROE | 56.47 % | 44.45 % (-21.29%) | |
| ROCE | 18.56 % | 35.94 % (+93.64%) | |
| D/E | 3.87 | 0.86 (-77.78%) |
The business model includes manufacturing as well as trading; it provides for importing and distributing high-quality wide-format digital textile inkjet printers, import and supply of specialized digital textile printing inks, an in-house sublimation paper manufacturing unit, and digital textile printing for customers who prefer to outsource their printing needs.
PE Ratio: 19.07x Average Sector PE Ratio: 17.27x
| QIB Shares Offered: | 3176400 |
| - Anchor Investor Shares Offered: | 1905600 |
| − QIB (Ex. Anchor) Shares Offered : | 1270800 |
| NII (HNI) Shares Offered: | 957600 |
| - bNII > ₹10L: | 638400 |
| - sNII < ₹10L: | 319200 |
| Retail Shares Offered: | 2229600 |
| Total Shares Offered: | 6363600 |
| Application | Lot | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Max) | 2 | 1200 | ₹229200 |
| S-HNI (Min) | 3 | 1800 | ₹343800 |
| S-HNI (Max) | 8 | 4800 | ₹916800 |
| B-HNI (Min) | 9 | 5400 | ₹1031400 |
Avg IPO Size (Sector Based):
₹ 28.64 cr.
Average Sector PE Ratio:
17.27 X
Listing Price:
₹ 191.00
True Colors is engaged in the business of import and distribution of digital textile printers and manufacturing and supplying of products related to digital textile printing industry. Their business model includes manufacturing as well as trading that covers the following three key pillars in the digital textile printing industry such as: - Machinery & Ink Supply (Import & Distribution): They import and distribute high-quality wide format digital textile inkjet printers from globally recognized brands such as KONICA MINOLTA, HOPETECH, ITTEN, PENGDA and SKYJET. Further they have signed dealership agreements with these brands. These printers are supplied to textile manufacturers, export houses and fabric dealers across India. By providing installation services, spare parts, and after-sales support, they serve as a reliable partner for businesses adopting digital textile printing. Additionally, they import and supply specialized digital textile printing inks that ensure vibrant and durable prints. Further their ink portfolio includes: Sublimation Inks – Specially formulated for polyester fabrics, their sublimation inks are designed for transfer printing applications. These inks offer exceptional color brilliance, high penetration, and sharp detailing, ensuring vibrant and durable prints with excellent wash and rub fastness.
Regulatory environment of international markets.
GYR Capital Advisors Private Limited, based in Ahmedabad is the Lead Manager (BRLM) of True Colors IPO. GYR Capital Advisors Private Limited has handled (17) SME IPOs till date of which (76%) of the SME IPOs have been listed with listing gains. Read full review of GYR Capital Advisors Private Limited .
True Colors IPO may offer opportunites, depending on your investment strategy. For in-depth analysis, risk factors, and KPIs, check our detailed report on True Colors Financial Review Page
Merchant Banker(s) of True Colors IPO: GYR Capital Advisors Private Limited
True Colors IPO subscription was 45.46 X. IPO subscription refers to applications received in an IPO by each quota, i.e., QIB, Retail, and NII. In some IPOs, Eligible employee quota and shareholder’s quota are also present. Learn more about IPO subscriptions here.
True Colors IPO listed at a listing price of 191.00 against the offer price of 191.00.
The current market price of True Colors is 180.90.
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