True Colors SME IPO Subscription Status
True Colors SME IPO closed on 25 September 2025 with an overall subscription of 45.46x based on shares applied. QIB demand came in at 43.41x, NII at 50.93x, and retail at 44.46x.
Allotment will be finalised on 26 September 2025. The stock is scheduled to list on NSE and BSE on 30 September 2025.
Issue Price
Rs 191.00
GMP Today
Rs 5.00 (+2.62%)
Overall Subscription
45.46x
Issue Size
₹121.54 Cr
Allotment Date
26 Sept 2025
Listing Date
30 Sept 2025
True Colors SME IPO Subscription by Amount
Category-wise subscription based on amount applied at issue price Rs 191.00
| Category | Amount Offered | Amount Applied | Subscription |
|---|---|---|---|
| QIB | Rs 24.27 Cr | Rs 1,053.62 Cr | 43.41x |
| FII | - | Rs 197.05 Cr | - |
| DFI | - | Rs 225.20 Cr | - |
| Mutual Funds | - | Rs 5.98 Cr | - |
| Other | - | Rs 625.38 Cr | - |
| NII | Rs 18.29 Cr | Rs 931.56 Cr | 50.93x |
| bNII (above Rs 10L) | Rs 12.19 Cr | Rs 677.61 Cr | 55.57x |
| Corporate | - | Rs 23.71 Cr | - |
| Individual | - | Rs 646.87 Cr | - |
| Other | - | Rs 7.02 Cr | - |
| sNII (Rs 2L to Rs 10L) | Rs 6.10 Cr | Rs 253.95 Cr | 41.65x |
| Corporate | - | Rs 3.80 Cr | - |
| Individual | - | Rs 246.88 Cr | - |
| Other | - | Rs 3.27 Cr | - |
| IND | Rs 42.59 Cr | Rs 1,893.21 Cr | 44.46x |
| Fixed price | - | Rs 1,893.21 Cr | - |
| Total | Rs 85.15 Cr | Rs 3,878.40 Cr | 45.55x |
True Colors SME IPO Subscription by Applications
Category-wise subscription based on applications received
| Category | Applications Offered | Applications Received | Subscription |
|---|---|---|---|
| QIB | 2,118 | 75 | 0.04x |
| FII | - | 20 | - |
| DFI | - | 5 | - |
| Mutual Funds | - | 2 | - |
| Other | - | 48 | - |
| NII | 532 | 13,033 | 24.50x |
| bNII (above Rs 10L) | 355 | 6,126 | 17.26x |
| Corporate | - | 163 | - |
| Individual | - | 5,896 | - |
| Other | - | 67 | - |
| sNII (Rs 2L to Rs 10L) | 177 | 6,907 | 39.02x |
| Corporate | - | 107 | - |
| Individual | - | 6,708 | - |
| Other | - | 92 | - |
| IND | 1,858 | 82,601 | 44.46x |
| Fixed price | - | 82,601 | - |
| Total | 4,508 | 95,709 | 21.23x |
What Do These Subscription Numbers Mean?
A subscription of 45.46x by shares means the IPO received bids for 45 times the shares reserved. Allotment odds depend on application count in each category, not share volume.
Here is what each category number tells you:
QIB at 43.41x by shares: This is the strongest signal on the page. QIBs are institutional investors, mutual funds, foreign institutions, and banks. When they subscribe at 43.41x, it reflects serious institutional conviction.
NII at 24.50x by applications: NII includes high net worth individuals applying above Rs 2 lakh. Proportional allotment uses application subscription. bNII came in at 17.26x and sNII at 39.02x by applications. Share subscription was 50.93x. Allotment uses application count, not share volume.
At 44.46x subscription by applications, approximately 1 in 44 retail applicants can expect an allotment (~2% per application). Retail allotment is done by lottery when oversubscribed.
True Colors SME IPO Allotment Chances
Allotment odds below use application subscription (number of bids received), not share or amount subscribed.
Retail (IND)
- •Application subscription: 44.46x.
- •Allotment odds: about 1 in 44 (~2% chance per application).
- •Method: Lottery. If allotted, you receive at least one lot.
- •One application per PAN. Multiple eligible accounts in a household can improve overall family odds, not individual odds.
SHNI (Rs 2 lakh to Rs 10 lakh)
- •Application subscription: 39.02x.
- •Allotment odds: about 1 in 39 for a minimum-lot application (~3% of the applied lot on average).
- •Method: Proportional. Shares allotted are based on your bid size, not a lottery.
- •Share subscription was 41.65x. Allotment uses application count, not share volume.
BHNI (above Rs 10 lakh)
- •Application subscription: 17.26x.
- •Allotment odds: about 1 in 17 for a minimum-lot application (~6% of the applied lot on average).
- •Method: Proportional. Shares allotted are based on your bid size, not a lottery.
- •Share subscription was 55.57x. Allotment uses application count, not share volume.
Check the True Colors SME IPO Allotment Status page from 26 September 2025 for your allotment result.
True Colors SME IPO GMP After Subscription
GMP for True Colors SME stands at Rs 5.00 today, giving an estimated listing price of Rs 196.00 per share.
A subscription of 45.46x combined with a GMP of 2.62% is a strong combination heading into listing. QIB demand above 50x in particular tends to support listing sentiment, as institutional investors are seen as informed buyers.
Track live GMP on the True Colors SME IPO GMP Today page or the IPOwiz Live IPO GMP Tracker.
True Colors SME IPO Day-wise Subscription
| Day | QIB | NII | Retail | Overall |
|---|---|---|---|---|
| Day 1 - 23 Sept 2025 | 3.52x | 0.95x | 1.62x | 2.02x |
| Day 2 - 24 Sept 2025 | 3.93x | 3.21x | 7.38x | 5.50x |
| Day 3 - 25 Sept 2025 | 43.41x | 50.58x | 44.42x | 45.46x |
True Colors SME IPO Key Dates
| Event | Date |
|---|---|
| IPO Open Date | 23 September 2025 |
| IPO Close Date | 25 September 2025 |
| Allotment Date | 26 September 2025 |
| Refund Initiation | 27 September 2025 |
| Share Credit to Demat | 27 September 2025 |
| Listing Date | 30 September 2025 |
| Minimum Investment | Rs 2,29,200.00 |
| Lot Size | 600 shares |
About True Colors SME
No company information available
Understanding Subscription Categories
QIB - Qualified Institutional Buyers
Includes foreign institutional investors, domestic financial institutions, mutual funds, and other qualified institutions. QIB demand is considered the most reliable indicator of institutional confidence in an IPO.
NII - Non-Institutional Investors
High net worth individuals applying above Rs 2 lakh. Divided into bNII (above Rs 10 lakh) and sNII (Rs 2 lakh to Rs 10 lakh). NII allotment is proportional.
IND - Individual Investors
Investors applying up to Rs 2 lakh per PAN. Allotment is by lottery when oversubscribed. Minimum one lot per successful applicant.
True Colors SME IPO Subscription FAQs
What is True Colors SME IPO subscription status today?
True Colors SME IPO subscription closed on 25 September 2025 with overall subscription of 45.46x (by shares) as of 27 June 2026, 2:47 AM IST. QIB 43.41x, NII 24.50x, IND 44.46x.
What is the overall subscription of True Colors SME IPO?
True Colors SME IPO is subscribed 45.46x overall by shares at close on 25 September 2025. QIB 43.41x, NII 24.50x, and IND 44.46x.
What is True Colors SME IPO QIB subscription?
True Colors SME IPO QIB (Qualified Institutional Buyers) subscription is 43.41x by shares. QIB includes mutual funds, FIIs, banks, and other institutions.
What is True Colors SME IPO IND subscription?
True Colors SME IPO IND subscription is 44.46x by applications. Minimum retail bid is up to Rs 2 lakh per PAN.
What is True Colors SME IPO NII subscription?
True Colors SME IPO NII (Non-Institutional Investors) subscription is 24.50x by applications. NII covers bids above Rs 2 lakh.
What are allotment chances in True Colors SME IPO for retail?
At 44.46x subscription by applications, approximately 1 in 44 retail applicants can expect an allotment (~2% per application). Allotment is done by lottery.
When is True Colors SME IPO allotment date?
True Colors SME IPO allotment date is 26 September 2025. Check True Colors SME IPO Allotment Status on IPOwiz from that day using your PAN.
When does True Colors SME IPO subscription close?
True Colors SME IPO subscription closed on 25 September 2025. No new applications are accepted after the close.
What is True Colors SME IPO GMP today?
True Colors SME IPO GMP is ₹5 today (+2.62% over issue price ₹191). See live GMP on the True Colors SME IPO GMP Today page.
What is True Colors SME IPO issue price and lot size?
True Colors SME IPO issue price is ₹191 per share. Lot size is 600 shares. Minimum investment is ₹2,29,200 per lot (minimum 2 lots for SME). Issue size: ₹121.54 Cr.
When is True Colors SME IPO listing date?
True Colors SME IPO listing date is 30 September 2025 on NSE and BSE. Allotment is on 26 September 2025.
How does subscription affect True Colors SME IPO allotment?
Allotment odds in True Colors SME IPO depend on application subscription in each category, not share volume. Retail uses lottery when oversubscribed. NII proportional allotment at 24.50x by applications means roughly 1 in 24 for minimum-lot bids; bNII at 17.26x (~1 in 17). At 45.46x overall, competition is high.
For allotment results from 26 September 2025, visit the True Colors SME IPO Allotment Status page. For listing day updates on 30 September 2025, download the IPOwiz App.
Reviewed by Dinesh Agrawal
15+ years in Indian capital markets and IPO research. Subscription data verified before publish.