True Colors Sets Sail with Rs 127.96 Crore IPO

True Colors, a Surat-based importer and distributor of digital textile printers, has announced an initial public offering (IPO) with a price band set at Rs 181-191 per share, aiming to raise Rs 127.96 crore. The offering will open for public subscription on September 23 and close on September 25.

The IPO includes a mix of a fresh issue of approximately 57 lakh equity shares along with an offer for sale of 10 lakh shares by the company's promoters. Anchor investors can bid on September 22, just a day before the public issue opens.

Proceeds from the fresh issue will be used primarily for funding working capital, debt repayment, and general corporate purposes. The company, founded in October 2021, reported substantial revenues and profits in FY25, and plans to list shares on the BSE SME.

(With inputs from agencies.)