The Mehul Colours IPO is a book building offering of ₹21.66 crores. This issue consists entirely of a fresh issuance of 30.08 lakh shares.
The subscription period for the Mehul Colour IPO begins on July 30, 2025, and concludes on August 1, 2025. The allotment for this IPO is anticipated to be finalized on Monday, August 4, 2025. The Mehul Colours IPO is set to be listed on BSE SME, with a tentative listing date scheduled for Wednesday, August 6, 2025.
The price band for the Mehul Colours IPO is established at ₹68 to ₹72 per share. The application lot size is 1,600 shares. For individual investors (retail), the minimum investment required is ₹2,17,600, which corresponds to 3,200 shares. For high net worth individuals (HNI), the minimum investment is 3 lots (4,800 shares), totaling ₹3,45,600.
Seren Capital Private Limited serves as the book-running lead manager for the Mehul Colours IPO, while Bigshare Services Pvt Ltd acts as the registrar for the issue. The market maker for the Mehul Colours IPO is Asnani Stock Broker Private Limited.
For more detailed information, please refer to the Mehul Colours IPO RHP.
Mehul Colours IPO Details
| IPO Date | July 30, 2025 to August 1, 2025 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Issue Price Band | ₹68 to ₹72 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 30,08,000 shares (aggregating up to ₹21.66 Cr) |
| Reserved for Market Maker | 1,52,000 shares (aggregating up to ₹1.09 Cr) |
| Net Offered to Public | 28,56,000 shares (aggregating up to ₹20.56 Cr) |
| Issue Type | Book building IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 75,41,040 shares |
| Share Holding Post Issue | 1,05,49,040 shares |
Mehul Colours IPO Reservation
Mehul Colours IPO offers total 30,08,000 shares. Out of which 14,25,600 (47.39%) allocated to QIB, 5,71,200 (18.99%) allocated to QIB, 4,28,800 (14.26%) allocated to NII, 10,01,600 (33.30%) allocated to RII and 8,54,400 (28.40%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,52,000 (5.05%) |
| QIB Shares Offered | 14,25,600 (47.39%) |
| NII (HNI) Shares Offered | 4,28,800 (14.26%) |
| Retail Shares Offered | 10,01,600 (33.30%) |
| Total Shares Offered | 30,08,000 (100.00%) |
Mehul Colours IPO Anchor Investors Details
Mehul Colours IPO raises ₹6.15 crore from anchor investors. Mehul Colours IPO Anchor bid date is July 29, 2025.
| Bid Date | July 29, 2025 |
| Shares Offered | 8,54,400 |
| Anchor Portion Size (In Cr.) | 6.15 |
| Anchor lock-in period end date for 50% shares (30 Days) | September 3, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | November 2, 2025 |
Mehul Colours IPO Timeline (Tentative Schedule)
Mehul Colours IPO opens on July 30, 2025, and closes on August 1, 2025.
| IPO Open Date | Wed, Jul 30, 2025 |
| IPO Close Date | Fri, Aug 1, 2025 |
| Tentative Allotment | Mon, Aug 4, 2025 |
| Initiation of Refunds | Tue, Aug 5, 2025 |
| Credit of Shares to Demat | Tue, Aug 5, 2025 |
| Tentative Listing Date | Wed, Aug 6, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 1, 2025 |
Mehul Colours IPO Lot Size
Investors can bid for a minimum of 3,200 shares and in multiples of 1,600 shares thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 3,200 | ₹2,30,400 |
| Individual investors (Retail) (Max) | 2 | 3,200 | ₹2,30,400 |
| S-HNI (Min) | 3 | 4,800 | ₹3,45,600 |
| S-HNI (Max) | 8 | 12,800 | ₹9,21,600 |
| B-HNI (Min) | 9 | 14,400 | ₹10,36,800 |
Mehul Colours IPO Promoter Holding
Mehul Pravinchandra Joshi and Bhakti Mehul Joshi are the promoters of the company.
| Share Holding Pre Issue | 96.86% |
| Share Holding Post Issue |
Mehul Colours Ltd. Financial Information (Restated)
Mehul Colours Ltd.'s revenue increased by 5% and profit after tax (PAT) rose by 71% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 18.95 | 13.87 | 10.82 |
| Revenue | 23.71 | 22.66 | 21.37 |
| Profit After Tax | 5.50 | 3.22 | 2.94 |
| EBITDA | 6.88 | 4.18 | 3.97 |
| Net Worth | 17.06 | 11.56 | 8.36 |
| Reserves and Surplus | 9.52 | 11.27 | 8.07 |
| Total Borrowing | 0.36 | ||
| Amount in ₹ Crore | |||
Key Performance Indicator (KPI)
The market capitalization of Mehul Colours IPO is ₹75.95 Cr.
KPI as of Mon, Mar 31, 2025.
| KPI | Values |
|---|---|
| ROE | 38.46% |
| ROCE | 43.53% |
| RoNW | 32.26% |
| PAT Margin | 24.11% |
| EBITDA Margin | 30.17% |
| Price to Book Value | 4.70 |
About Mehul Colours Ltd.
Founded in 1995, Mehul Colours & Masterbatches Pvt. Ltd. specializes in the production and export of masterbatches in India.
The company provides a wide array of products, such as white, black, colored, and additive masterbatches, serving different applications in plastics, rubbers, and elastomers.
The company operates two plants located in Tungareshwar Industrial Estate, Vasai East, Mumbai, with capacities of 10,56,000 kg and 2,28,000 kg, each occupying 3,200 sq. ft. of built-up space.
Product Offerings:
Masterbatches: They create masterbatches—mixtures of pigments and additives in polymers—to ensure consistent color and improved properties like UV resistance, flame retardancy, and anti-static characteristics in plastic products.
Pigments: They produce pigments—organic for bright, vivid hues and inorganic for durability and heat resistance—utilized in plastics for consistent coloration, stability, and resistance across various industries.
As of June 30, 2025, the company employed a total of 32 permanent staff members.
Competitive Advantages:
In-house manufacturing facilities equipped with integrated testing and R&D capabilities.
A well-diversified customer base across multiple industries and regions.
Long-standing relationships with customers.
Experienced promoters with industry knowledge.