Ace investor Mukul Agarwal has acquired a 1.62% stake in True Colors during the quarter ended March 31, purchasing nearly 4 lakh shares. The stock responded sharply, climbing 10% to a daily high of Rs 179.15. This move comes as the BSE SME-listed company trades below its IPO price of Rs 191 following its debut on September 30, 2025.
Agarwal's Investment Track Record
Mukul Agarwal publicly holds 73 stocks, with a net worth surpassing Rs 6,369 crore according to Trendlyne data. His portfolio features names like J Kumar Infraprojects, Ajmera Realty, Allcargo Logistics, Ceat, LT Foods, and India Metals & Ferro Alloys. Such investments often signal confidence in growth sectors, drawing retail investor attention to smaller caps like True Colors.
True Colors' Business and Growth
Founded in October 2021, True Colors imports and distributes digital textile printers while supplying inks and services for the digital textile printing industry. The company offers complete solutions to exporters, manufacturers, designers, and entrepreneurs. Its SME IPO, launched September 23, 2025, raised Rs 128 crore through a fresh issue of 57 lakh shares worth Rs 108.86 crore and an offer for sale of 10 lakh shares at Rs 19.10 crore.
Strong Financial Performance
True Colors posted a standalone net profit of Rs 24 crore in the latest quarter, marking 184% year-on-year growth from Rs 8.5 crore. Revenue reached Rs 234 crore, up 46% from Rs 161 crore a year earlier. These results underscore demand for digital textile solutions amid industry shifts toward efficient printing technologies.
