True Colors Ltd

True Colors Ltd’s IPO Funds Remain Unutilized in Q3 2025 📊

- True Colors Ltd submitted its quarterly Monitoring Agency Report for the period ending September 30, 2025.

- No deviation found in the utilization of IPO proceeds from the stated objectives in the Placement Document.

- IPO size was Rs. 108.86 crores, with net proceeds of Rs. 100.70 crores.

- Key IPO objectives: working capital (Rs. 48.90 crores), repayment of borrowings (Rs. 41.83 crores), and general corporate purposes (Rs. 9.97 crores).

- No utilization of IPO proceeds during the quarter; entire Rs. 100.70 crores remains unutilized.

- Unutilized funds held in the Public Issue Account with Axis Bank.

- CRISIL Ratings confirmed no delays or deviations in IPO objectives implementation.

- Report reviewed by True Colors Ltd’s Board of Directors and Audit Committee.