New Delhi, India, 28th August, 2025: True Colors Limited, a prominent name in digital textile printing solutions and fabric processing, has officially announced its plans to launch an Initial Public Offering (IPO) in the coming months. With this strategic move, the company aims to drive its ongoing expansion projects in manufacturing, strengthen its market position, and support its long-term vision focused on green energy and sustainability. The IPO proceeds will primarily be utilized for working capital requirements, partial repayment of debt.

True Colors Limited, formerly known as True Colors Private Limited, began its journey in 2021. The company underwent a significant transformation on March 10, 2025, when it was converted from a private limited entity to a public limited company, marking a major milestone in its growth trajectory.

True Colors Limited has contributed to modernizing the Indian textile sector by integrating advanced digital printing technologies with a strong commitment to environmental responsibility. The company operates across three core verticals, turnkey solutions for digital textile printing machines, in-house manufacturing of premium sublimation paper (an essential consumable in digital printing), and customized digital fabric printing services. This integrated service ecosystem – encompassing fabric printing, machinery, inks, spare parts, and sublimation paper – makes True Colors a trusted growth partner for textile manufacturers, export houses, garment manufacturers, apparel brands, fashion creators, and home décor businesses, both in India and abroad.

Commenting on the IPO plans, Satish Panchani, CEO & Co-founder of True Colors Limited, said, “True Colors was founded with a vision to modernize India’s textile backbone by introducing sustainable, technology-led solutions. Our upcoming IPO is a significant milestone, marking the next phase of our growth journey. With this, we aim to scale our operations, deepen our R&D efforts, and further our commitment to environmentally responsible manufacturing. We believe the future of textiles lies in innovation, sustainability, and agility, and we are well-positioned to support and shape that transformation.”

Over the years, True Colors Limited has developed a strong market presence, serving both domestic and international clients with high-quality, design-led textile printing solutions. The company is a trusted distributor of globally renowned digital printer brands such as KONICA MINOLTA, HOPETECH, ITTEN, PENGDA, and SKYJET, offering machines, inks, spare parts, and comprehensive after-sales service. Its modern digital printing operations offer precision, mass customization, and environmental efficiency by significantly reducing water usage, waste, and production turnaround times. With a daily production capacity of 75,000 meters of digitally printed fabric and 350,000 meters of sublimation paper, supported by a 1 MW rooftop solar power system, True Colors continues to push technological and environmental progress in textile processing.

Also speaking on the IPO, Sanjay Desai, Managing Director at True Colors Limited, stated, “Our journey has always been about bridging the gap between technology and tradition in India’s textile industry. This IPO is more than just raising capital—it is about reinforcing our commitment to building a sustainable and globally competitive textile ecosystem. Our integrated strengths in importing and supplying machines and inks, in-house sublimation paper manufacturing, and premium fabric delivery, backed by world-class printing technologies like sublimation, reactive, fluorescent, foil, position, and double-side printing, give us a unique position in the industry. We have the expertise, infrastructure, and vision to contribute significantly to India’s digital textile innovation journey.”

True Colors Limited’s growth strategy focuses on expanding into high-potential global markets, broadening its product range, and enhancing its role in sustainable supply chains. By leveraging deep experience in digital printing and a firm commitment to environmentally responsible practices, the company aims to make the textile sector more responsive, Key performance highlights of the company include revenue from operations of ₹23,365.62 lakh in FY25, EBITDA of ₹4,091.20 lakh, and a profit after tax of ₹2,469.38 lakh. With strong profit margins and a healthy debt-to-equity ratio of 0.86, the company showcases robust financial stability and operational strength.