True Colors SME IPO Subscription
ListedUpdated 30 September 2025, 9:15 AM IST· BSE SME
True Colors SME IPO subscription closed on 25 September 2025 at 45.46x overall by shares. QIB demand came in at 43.41x, NII at 50.93x, and retail at 44.46x. See Retail, SHNI, and BHNI allotment chances in the table…
True Colors SME IPO subscription closed on 25 September 2025 at 45.46x overall by shares. QIB demand came in at 43.41x, NII at 50.93x, and retail at 44.46x. See Retail, SHNI, and BHNI allotment chances in the table below.
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Allotment date is 26 September 2025. Listing date on NSE and BSE is 30 September 2025.
True Colors SME IPO Day-wise Subscription
Daily QIB, NII, Retail, and overall subscription as bids come in
| 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 Allotment Chances
Retail, SHNI, and BHNI chances based on application subscription
True Colors SME IPO allotment chances for Retail, SHNI, and BHNI. All three use lottery when the category is oversubscribed.
| Category | Subscription (Apps) | Allotment Chances |
|---|---|---|
| Retail (IND) | 44.46x | 1 in 44 |
| SHNI (Rs 2L to Rs 10L) | 39.02x | 1 in 39 |
| BHNI (above Rs 10L) | 17.26x | 1 in 17 |
Chances use application subscription (how many bids came in), not share or amount figures. If you get allotment, you get at least one lot. Higher subscription means lower chance per PAN.
Check the True Colors SME IPO Allotment Status page from 26 September 2025 for your result.
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?
45.46x overall by shares means bids covered about 45 times the shares on offer. Allotment chances depend on applications in each category.
QIB at 43.41x by shares shows institutional demand from mutual funds, FIIs, and banks.
NII covers bids above Rs 2 lakh (24.50x by applications). Split: SHNI 39.02x, BHNI 17.26x by applications. SHNI and BHNI allotment is by lottery.
At 44.46x subscription by applications, about 1 in 44 retail applicants may get allotment (~2% chance per application). Retail allotment is also by lottery.
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 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 (SHNI & BHNI)
Investors bidding above Rs 2 lakh. Split into SHNI (Rs 2 lakh to Rs 10 lakh) and BHNI (above Rs 10 lakh). Both use lottery allotment when oversubscribed.
IND - Individual Investors
Investors bidding up to Rs 2 lakh per PAN. Allotment is by lottery when oversubscribed. Winners get at least one lot.
True Colors SME IPO Pages
Open related pages for this IPO: details, GMP, subscription, allotment, review, FAQ, registrar, timeline, and news.
True Colors SME Details
Issue size, price, financials, and company info
True Colors SME GMP
Live grey market premium and listing estimate
True Colors SME Subscription
QIB, NII, Retail, SHNI and BHNI subscription
True Colors SME Allotment
Allotment date, chances, and check by PAN
True Colors SME Review
SWOT, strengths, risks, and IPO review
True Colors SME FAQ
Common questions on dates, GMP, and allotment
True Colors SME Registrar
Registrar website and how to check allotment
True Colors SME Timeline
Open, close, allotment, and listing dates
True Colors SME News
Updates, blogs, and latest IPO news
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 August 2026, 4:32 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. Retail bids are up to Rs 2 lakh per PAN.
What is True Colors SME IPO NII, SHNI, and BHNI subscription?
True Colors SME IPO NII subscription is 24.50x by applications. NII is bids above Rs 2 lakh, split into SHNI (Rs 2L to Rs 10L) at 39.02x and BHNI (above Rs 10L) at 17.26x.
What are True Colors SME IPO retail allotment chances?
At 44.46x subscription by applications, about 1 in 44 retail applicants may get allotment (~2% chance per application). Allotment is by lottery.
What are True Colors SME IPO SHNI allotment chances?
At 39.02x subscription by applications, about 1 in 39 SHNI applicants may get allotment (~3% chance per application). Allotment is by lottery. Share subscription was 41.65x. Allotment chances use applications, not share volume.
What are True Colors SME IPO BHNI allotment chances?
At 17.26x subscription by applications, about 1 in 17 BHNI applicants may get allotment (~6% chance per application). Allotment is by lottery. Share subscription was 55.57x. Allotment chances use applications, not share volume.
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?
In True Colors SME IPO, Retail, SHNI, and BHNI allotment is by lottery when oversubscribed. Chances follow application subscription in each category, not share volume. 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.
Sources
We match True Colors SME IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.
- SEBIRules for IPO allotment and disclosures in India
- NSEExchange notices, bidding data, and listing updates
- BSEExchange notices and IPO allotment check tools
- RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
- IPO RegistrarRegistrar details are on the allotment page for this IPO
Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.
Reviewed by
Dinesh Agrawal · Lead IPO Analyst
15+ years in Indian markets and IPO research. He reviews subscription data before it goes live.