Monitoring Agency Report for the Quarter ended September 30, 2025
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Awaiting price reaction for this filing.
True Colors Limited, a Surat-based textile company, has filed the Monitoring Agency Report prepared by Crisil Ratings Limited for the quarter ended September 30, 2025, tracking the use of IPO proceeds. The company raised Rs. 108.86 crores (net proceeds of Rs. 100.70 crores) through a fresh IPO held from September 23–25, 2025, with planned deployment toward working capital (Rs. 48.90 crores), repayment/prepayment of borrowings (Rs. 41.83 crores), and general corporate purposes (Rs. 9.97 crores). No funds were utilised during the quarter, and the entire Rs. 100.70 crores remains parked in the Public Issue Account with Axis Bank. Crisil has confirmed there is no deviation from the objects stated in the Offer Document and no delay in implementation.
This is a routine SEBI-mandated compliance filing and is largely neutral for shareholders. Since the IPO closed only days before the quarter-end, the nil utilisation during Q2 FY26 is expected; investors should watch the next quarterly report to see actual deployment against the disclosed objects, particularly debt repayment and working capital funding.