Disclosure for Repayment of Term Loan of the company under Regulation 30 of SEBI ( Listing Obligations and Disclosure Requirements) Regulations, 2015
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True Colors Limited has repaid its entire outstanding term loan of ₹41.83 crores to HDFC Bank Limited. The repayment was made using proceeds from the company's recent IPO, as stated in the Objects of the Issue in the Prospectus. The IPO allotment was completed on September 26, 2025, and the company's shares were listed on the stock exchanges on September 30, 2025. This loan repayment was a pre-disclosed use of IPO funds. The company states that this strengthens its balance sheet and provides greater financial flexibility for future growth.
Positive for shareholders — the company is now debt-free with respect to this term loan, reducing interest costs and strengthening the balance sheet. This reflects disciplined use of IPO proceeds as promised to investors at the time of listing.