Comparison between Kiaasa Retail IPO and True Colors IPO.
Kiaasa Retail IPO is a SME Bookbuilding IPO proposed to list at BSE SME while True Colors IPO is a SME Bookbuilding proposed to list at BSE SME.
| Kiaasa Retail IPO | True Colors IPO | |
|---|---|---|
| Logo |  |  |
| Issue Category | SME | SME |
| Issue Type | IPO | IPO |
| Process Type | Bookbuilding | Bookbuilding |
| Listing At | BSE SME | BSE SME |
| Lead Managers | Expert Global Consultants Pvt.Ltd. | GYR Capital Advisors Pvt.Ltd. |
| Registrar | Purva Sharegistry (India) Pvt.Ltd. | Bigshare Services Pvt.Ltd. |
| Market Maker | Prabhat Financial Services Ltd. | Giriraj Stock Broking Pvt.Ltd. |
| DRHP | DRHP  | DRHP |
| RHP | RHP | RHP |
| Final Prospectus | Final Prospectus | Final Prospectus |
| Anchor Investor | Anchor Investor | |
| IPO Allotment URL | IPO Allotment URL | IPO Allotment URL |
The total issue size of Kiaasa Retail IPO is up to ₹66.24 Cr whereas the issue size of the True Colors IPO is up to ₹121.54 Cr. The final issue price of Kiaasa Retail IPO is ₹127.00 per share and of True Colors IPO is ₹191.00 per share.
| Kiaasa Retail IPO | True Colors IPO | |
|---|---|---|
| Face Value | ₹10 per share | ₹10 per share |
| Issue Price (Lower) | ₹121.00 per share | ₹181.00 per share |
| Issue Price (Upper) | ₹127.00 per share | ₹191.00 per share |
| Issue Price (Final) | ₹127.00 per share | ₹191.00 per share |
| Discount (Retail) | ||
| Discount (Employee) | ||
| Market Lot Size | 1000 shares | 600 shares |
| Fresh Issue Size | 52,16,000 shares | 53,63,600 shares |
| Fresh Issue Size (Amount) | up to ₹66.24 Cr | up to ₹102.44 Cr |
| OFS Issue Size | 0 shares | 10,00,000 shares |
| OFS Issue Size (Amount) | up to ₹0.00 Cr | up to ₹19.10 Cr |
| Issue Size Total | 52,16,000 shares | 63,63,600 shares |
| Issue Size Total (Amount) | up to ₹66.24 Cr | up to ₹121.54 Cr |
Kiaasa Retail IPO opens on Feb 23, 2026, while True Colors IPO opens on Sep 23, 2025. The closing date of Kiaasa Retail IPO and True Colors IPO is Feb 25, 2026, and Sep 25, 2025, respectively.
| Kiaasa Retail IPO | True Colors IPO | |
|---|---|---|
| Anchor Bid Date | Feb 20, 2026 | Sep 22, 2025 |
| Issue Open | Feb 23, 2026 | Sep 23, 2025 |
| Issue Close | Feb 25, 2026 | Sep 25, 2025 |
| Basis Of Allotment (Tentative) | Feb 26, 2026 | Sep 26, 2025 |
| Initiation of Refunds (Tentative) | Feb 27, 2026 | Sep 29, 2025 |
| Credit of Share (Tentative) | Feb 27, 2026 | Sep 29, 2025 |
| Listing date (Tentative) | Mar 02, 2026 | Sep 30, 2025 |
| Anchor Lockin End date 1 | Mar 28, 2026 | Oct 25, 2025 |
| Anchor Lockin End date 2 | May 27, 2026 | Dec 24, 2025 |
Kiaasa Retail IPO P/E ratio is 19.31, as compared to True Colors IPO P/E ratio of 14.66.
| Kiaasa Retail IPO | True Colors IPO | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Financials | Company Financials (Restated)
| Company Financials (Restated)True Colors Ltd.'s revenue increased by 45% and profit after tax (PAT) rose by 199% between the financial year ending with March 31, 2025 and March 31, 2024.
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Pre-Issue) | 71.84 | 94.87 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 50.22 | 68.88 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 19.31 | 14.66 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹231.51 Cr. | ₹470.90 Cr. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 42.36% | 70.49% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 20.34% | 35.94% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 0.70 | 0.86 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹6.58 | ₹13.03 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 20.60% | 44.53% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the Kiaasa Retail IPO Retail Individual Investors (RII) are offered 30,76,000 shares while in True Colors IPO retail investors are offered 30,76,000 shares. Qualified Institutional Buyers (QIB) are offered 52,000 shares in Kiaasa Retail IPO and 12,70,800 shares in True Colors IPO.
| Kiaasa Retail IPO | True Colors IPO | |
|---|---|---|
| Anchor Investor Reservation | 0 shares | 19,05,600 shares |
| Market Maker Reservation | 2,75,000 shares | 3,36,000 shares |
| QIB | 52,000 shares | 12,70,800 shares |
| NII | 20,87,000 shares | 9,57,600 shares |
| RII | 30,76,000 shares | 22,29,600 shares |
| Employee | 0 shares | 0 shares |
| Others | ||
| Total | 52,15,000 shares | 63,63,600 shares |
Kiaasa Retail IPO subscribed 2.05x in total, whereas True Colors IPO subscribed 45.46x.
| Kiaasa Retail IPO | True Colors IPO | |
|---|---|---|
| QIB (times) | 14.98x | 43.41x |
| NII (times) | 1.16x | 50.58x |
| Big NII (times) | 1.29x | 55.05x |
| Small NII (times) | 0.90x | 41.65x |
| RII (times) | 2.43x | 44.42x |
| Employee (times) | ||
| Other (times) | ||
| Total (times) | 2.05x | 45.46x |
