True Colors Ltd

True Colors Ltd Q3 2025 Monitoring Report: IPO Funds Mostly Used as Planned 📊

- Total IPO net proceeds: ₹100.70 crores

- Utilized by end-December 2025: ₹73.70 crores

- Unutilized funds: ₹27 crores (mostly in fixed deposits)

- Key fund uses: ₹28.90 crores for working capital, ₹41.83 crores for debt repayment, ₹2.97 crores for general corporate purposes

- A deviation noted: ₹20 crores placed in a fixed deposit with a non-RBI scheduled co-operative bank for higher returns

- The ₹20 crore deposit was fully traceable and returned to the monitoring account on February 13, 2026

- No major deviations in project spending or delays in IPO object implementation