IPO: Digital Textile Printer Player, True Colors, Poised For ₹127.96 Crore Public Issue, Will Be Open For Subscription On September 23

New Delhi: True Colors, an importer and distributor of digital textile printers, on Saturday said it has fixed a price band of Rs 181-191 per share for the Rs 127.96-crore public issue which will open for public subscription on September 23.

The initial public offering (IPO) will conclude on September 25. The bidding for anchor investors will open for a day on September 22, the company said in a statement.The IPO is mix of fresh issue of nearly 57 lakh equity shares and an offer for sale of 10 lakh shares by promoters.The price band has been fixed at Rs 181-191 per equity share.

At the upper end of the price band, the company is going to fetch Rs 127.96 crore.Proceeds from the fresh issue to the tune of Rs 48.90 crore will be utilised for funding working capital requirements of the company, Rs 40.40 crore for repayment of debt and balance for general corporate purposes.Incorporated in October 2021, True Colors imports and distributes digital textile printers from brands like Konica Minolta, Hopetech, iTTEN, PENGDA, and Skyjet.

The Surat-based company offers digital textile printing solutions, including machines, inks, and services, targeting businesses like exporters, manufacturers, designers and entrepreneurs.It also supplies products for the digital textile printing industry.

On the financial front, the company reported a revenue of Rs 233.65 crore and profit after tax of Rs 24.69 crore in FY25.The company's shares are proposed to be listed on the BSE SME.GYR Capital Advisors is the sole book running lead manager while Bigshare Services is the registrar for the IPO.

Disclaimer: This story is from the syndicated feed. Nothing has changed except the headline.