Comparison between Aritas Vinyl IPO and True Colors IPO.
Aritas Vinyl 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.
| Aritas Vinyl 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 | Interactive Financial Services Ltd. | GYR Capital Advisors Pvt.Ltd. |
| Registrar | Bigshare Services Pvt.Ltd. | Bigshare Services Pvt.Ltd. |
| Market Maker | Giriraj Stock Broking Pvt.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 Aritas Vinyl IPO is up to ₹35.63 Cr whereas the issue size of the True Colors IPO is up to ₹121.54 Cr. The final issue price of Aritas Vinyl IPO is ₹47.00 per share and of True Colors IPO is ₹191.00 per share.
| Aritas Vinyl IPO | True Colors IPO | |
|---|---|---|
| Face Value | ₹10 per share | ₹10 per share |
| Issue Price (Lower) | ₹40.00 per share | ₹181.00 per share |
| Issue Price (Upper) | ₹47.00 per share | ₹191.00 per share |
| Issue Price (Final) | ₹47.00 per share | ₹191.00 per share |
| Discount (Retail) | ||
| Discount (Employee) | ||
| Market Lot Size | 3000 shares | 600 shares |
| Fresh Issue Size | 65,96,600 shares | 53,63,600 shares |
| Fresh Issue Size (Amount) | up to ₹31.00 Cr | up to ₹102.44 Cr |
| OFS Issue Size | 9,84,400 shares | 10,00,000 shares |
| OFS Issue Size (Amount) | up to ₹4.63 Cr | up to ₹19.10 Cr |
| Issue Size Total | 75,81,000 shares | 63,63,600 shares |
| Issue Size Total (Amount) | up to ₹35.63 Cr | up to ₹121.54 Cr |
Aritas Vinyl IPO opens on Jan 16, 2026, while True Colors IPO opens on Sep 23, 2025. The closing date of Aritas Vinyl IPO and True Colors IPO is Jan 20, 2026, and Sep 25, 2025, respectively.
| Aritas Vinyl IPO | True Colors IPO | |
|---|---|---|
| Anchor Bid Date | Sep 22, 2025 | |
| Issue Open | Jan 16, 2026 | Sep 23, 2025 |
| Issue Close | Jan 20, 2026 | Sep 25, 2025 |
| Basis Of Allotment (Tentative) | Jan 21, 2026 | Sep 26, 2025 |
| Initiation of Refunds (Tentative) | Jan 22, 2026 | Sep 29, 2025 |
| Credit of Share (Tentative) | Jan 22, 2026 | Sep 29, 2025 |
| Listing date (Tentative) | Jan 23, 2026 | Sep 30, 2025 |
| Anchor Lockin End date 1 | Oct 25, 2025 | |
| Anchor Lockin End date 2 | Dec 24, 2025 |
Aritas Vinyl IPO P/E ratio is 14.43, as compared to True Colors IPO P/E ratio of 14.66.
| Aritas Vinyl 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) | 47.22 | 94.87 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 27.99 | 68.88 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 14.43 | 14.66 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹92.54 Cr. | ₹470.90 Cr. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 31.23% | 70.49% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 21.99% | 35.94% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 1.80 | 0.86 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹3.26 | ₹13.03 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 20.36% | 44.53% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the Aritas Vinyl IPO Retail Individual Investors (RII) are offered 45,12,000 shares while in True Colors IPO retail investors are offered 45,12,000 shares. Qualified Institutional Buyers (QIB) are offered 78,000 shares in Aritas Vinyl IPO and 12,70,800 shares in True Colors IPO.
| Aritas Vinyl IPO | True Colors IPO | |
|---|---|---|
| Anchor Investor Reservation | 0 shares | 19,05,600 shares |
| Market Maker Reservation | 4,02,000 shares | 3,36,000 shares |
| QIB | 78,000 shares | 12,70,800 shares |
| NII | 29,91,000 shares | 9,57,600 shares |
| RII | 45,12,000 shares | 22,29,600 shares |
| Employee | 0 shares | 0 shares |
| Others | ||
| Total | 75,81,000 shares | 63,63,600 shares |
Aritas Vinyl IPO subscribed 2.21x in total, whereas True Colors IPO subscribed 45.46x.
| Aritas Vinyl IPO | True Colors IPO | |
|---|---|---|
| QIB (times) | 1.00x | 43.41x |
| NII (times) | 1.24x | 50.58x |
| Big NII (times) | 1.28x | 55.05x |
| Small NII (times) | 1.15x | 41.65x |
| RII (times) | 2.88x | 44.42x |
| Employee (times) | ||
| Other (times) | ||
| Total (times) | 2.21x | 45.46x |
