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₹191 - 191
True Colors Ltd
TradingIPOSME
₹191 - 191
Our Company 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. Our business model includes manufacturing as well as trading that covers the following three key pillars in the digital textile printing industry.
Lot600Min Invest₹2,29,200Face Value₹10Issue Size₹128 CrFresh Issue₹109 CrOffer for Sale₹19 CrListing Price₹191CMP₹132
Timeline
23 Sept
Bidding opens
25 Sept
Bidding closes
26 Sept
Allotment
29 Sept
Refund & demat credit
30 Sept
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹128 Cr0.67 Cr shares
Fresh Issue₹109 Cr
Offer for Sale₹19 Cr
Face Value₹10
Lot Size600 shares
ReservationQIB 49.92% · NII 15.05% · RETAIL 35.03%
Application Sizes
Retail₹2,29,2001-1 lots
sNII₹2,29,200from 2 lots
bNII₹10,31,400from 9 lots
Managers & Registrar
Lead ManagerGYR Capital Advisors Pvt Ltd
RegistrarBigshare Services Pvt Ltd
Ownership & Proceeds
Offer for Sale
Selling ShareholderShares OfferedAmt ₹ CrAshishkumar Durlbhbhai MulaniPRMTR2,50,0004.78Sanjay Raghubhai DesaiPRMTR2,50,0004.78Sagarkumar Bipinbhai MulaniPRMTR2,50,0004.78Panchani Satishkumar JayantibhaiPRMTR2,50,0004.78Total10,00,00019.10
Shareholding
CategoryPre IPOPost IPOPromoter Group94.87%68.83%Public5.13%31.17%
Objects of the Issue
- Funding working capital requirements of the company
- Repayment/prepayment of all or certain of the borrowings availed of by the company
- General corporate purposes
Financials
Profit & Loss
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| RevenueCr | 9 | 81 | 160 | 233 | 302 |
| Operating ProfitCr | 1 | 6 | 14 | 40 | 46 |
| OPM% | 7.5 | 6.9 | 8.7 | 17.3 | 15.4 |
| PBTCr | 1 | 5 | 11 | 32 | 37 |
| PATCr | 0 | 4 | 8 | 24 | 31 |
| EPS | 33 | 231 | 5 | 14 | 14 |
Balance Sheet
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Equity CapitalCr | 0 | 0 | 0 | 19 | 25 |
| ReservesCr | 0 | 6 | 14 | 37 | 162 |
| BorrowingsCr | 0 | 20 | 57 | 48 | 46 |
| Total AssetsCr | 11 | 46 | 106 | 155 | 287 |
Cash Flow
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Operating Cash FlowCr | 0 | -20 | 9 | 6 | -35 |
| Investing Cash FlowCr | 0 | -1 | -34 | -8 | -65 |
| Financing Cash FlowCr | 0 | 22 | 29 | 3 | 94 |
| Net Cash FlowCr | 1 | 0 | 4 | 0 | -6 |
Strengths & Risks
Strengths · as stated in the DRHP
- Experienced Promoters having deep domain knowledge to scale up the business.
- In house manufacturing capabilities.
- Management team with an established track record.
- Established track record of successfully completed orders.
- Efficient operational team.
Strategies · as stated in the DRHP
- Expanding Market Reach through new geographies and customer segments.
- Enhancing Operational Efficiency and Cost Optimization.
- Deepen engagements within existing client base.
- Building a Strong and Scalable Organization.
- Effective Working Capital Management and Debt Repayment.
Risks · as stated in the DRHP
- The company does not have long-term agreements with a majority of the company's customers. Any changes or cancellations to the company's orders or the company's inability to forecast demand for its products may adversely affect the company's business, results of operations and financial condition.
- Increases in the prices of raw materials required for our operations could adversely affect our business and results of operations.
- We derive majority of our revenue from trading of Ink and digital printing machine business unit and any reduction in the demand of such segment could have an adverse effect on our business, results of operations and financial conditions.
- We are subject to the significant influence of, and restrictions imposed by OEMs pursuant to the terms of our dealership or agency agreements that may adversely impact our business, results of operations, financial condition and prospects, including our ability to expand into new territories and acquire additional dealerships.
- We are heavily dependent on the import for our machinery and ink divisions. A significant portion of our import is derived from selected geographies such as China and Japan. Any adverse developments in this market could adversely affect our business.
- Fluctuation in market trends for Digital Textile Printing