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True Colors IPO is a Book Building IPO listing on BSE SME exchange, with an ipo size of ₹ 128.00 Cr. The company is based in Surat and caters to Chemical sector. GYR Capital Advisors is the merchant banker of True Colors IPO. It is a SME IPO which filed its Draft Red Herring Prospectus (DRHP) on 13th July 2025. True Colors IPO open date is 23rd September 2025 and close date is 25th September 2025. IPO Allotment Date is 26th September 2025 and Listing date is 30th September 2025.
IPO
Size:
₹ 128.00 Cr.
Avg IPO Size (Sector Based)
: ₹
29.19 cr.
Sector: Chemical
SME
IPO so far:
64
Merchant Banker:
GYR Capital
SME
IPO by BRLM so far:
50
City:
Surat
SME
IPO so far:
43
Revenue (annualised):
₹
233.54
cr. 
PE
Ratio:
19.07x
Average Sector PE Ratio: 17.34x
True Colors IPO size is ₹ 128.00 Cr. with IPO price of ₹ 191.00. IPO subscription will start on IPO open date and end on IPO close date as per above. IPO valuation metrics can be seen here.
| Particulars | Amount |
|---|---|
| Funding working capital requirements of the company Repayment/prepayment of all or certain of the borrowings availed by the Company General corporate purposes</p> | 48 |
| Repayment/prepayment of all or certain of our borrowings availed of by the Company | [●] |
| General corporate purposes | [●] |
GYR Capital Advisors Private Limited is the book-running lead manager of the True Colors IPO. Bigshare Services Private Limited is the Registrar and Market Maker is Giriraj Stock Broking Private Limited for True Colors IPO.
True Colors IPO Draft red herring prospectus (DRHP) and Red Herring prospectus (RHP) are available below.
True Colors IPO, based in Surat, operates in the Chemical sector with a focus on Import and distribution of digital textile printers and manufacturing and supplying of products related to digital textile. The company is launching its SME IPO on the BSE SME exchange, using the Book Building Issue method. True Colors IPO size is ₹ 128.00 Cr. with fresh issue size of ₹ 109 Cr. and Offer for sale being ₹ 19.10 Cr.
The IPO allotment date for True Colors IPO is expected to be 26th September 2025, after the finalization of basis of allotment. Investors can check True Colors IPO allotment status on the registrars website, Bigshare Services Private Limited . True Colors IPO refund dates are 29th September 2025.
True Colors IPO is expected to be listed on 30th September 2025.
The upper price band for the True Colors IPO is set at ₹ 191.00 per equity share. IPO price band is arrived at on the basis of IPO Valuation (P/E multiple) which is mentioned in the RHP.
For IPO analysis on True Colors IPO, explore our Financial Review Page for insights on fundamentals, peer analysis, and key IPO data, assisting investors to make informed decisions to apply or not.
To apply for the True Colors IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of 25th September 2025. After submission, funds are blocked until the basis of allotment of True Colors IPO is finalised.
The merchant banker for True Colors IPO is GYR Capital Advisors Private Limited . GYR Capital Advisors Private Limited manages the IPO process, including underwriting, regulatory compliance, and investor coordination. Investors can refer to the True Colors IPO RHP for further details.
The registrar for True Colors IPO is Bigshare Services Private Limited . Investors can go to Bigshare Services Private Limited registrar website for IPO allotment status, refund processing, and other queries related to True Colors IPO through their official website or helpline.
True Colors IPO was subscribed 45.46 times. Stay updated on IPO details, subscription, and allotment news for informed investment decisions.
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IPO
Size:
₹ 128.00 Cr.
Avg IPO Size (Sector Based)
:
₹ 29.19 Cr.
Sector: Chemical
SME
IPO so far:
64
Merchant Banker:
GYR Capital
SME
IPO by BRLM so far:
50
City:
Surat
SME
IPO so far:
43
Revenue (annualised):
₹ 233.54 cr.
PE
Ratio:
19.07x
Average Sector PE Ratio: 17.34x
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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