Mehul Colours was incorporated on December 12, 1995. The company manufactures masterbatches pigment and additive blends used to color and enhance plastic products. These improve visual appeal and add properties like UV resistance, flame retardancy, and anti-static behavior
| Bidding Dates |
|---|
| 30 Jul 2025 - 01 Aug 2025 |
| Subscription |
|---|
| 7.5x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹2,17,600 | 2 | 2 | 1600 | 3.0 M | ₹68 - ₹72 | 69.24 % | ₹204.5 M - ₹216.6 M | RHP DOC |
Mehul Colours IPO SUBSCRIPTION STATUS
01 Aug '25Mehul Colours IPO overall subscription rate was 7.5 times the total available shares
Mehul Colours IPO retail subscription rate was 4.77 times in the retail segment
Mehul Colours IPO non-institutional investor subscription rate was 14.96 times in the non-institutional investor category
Mehul Colours IPO Qualified Institutional Bidder subscription rate was 7.18 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
01 Aug 2025 (Day 3) | 4.77x | 14.96x | 7.18x |
31 Jul 2025 (Day 2) | 1.18x | 5.2x | 0.38x |
30 Jul 2025 (Day 1) | 0.38x | 4.15x | 0.25x |
Mehul Colours FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY25 | 22.8 | 5.5 | 1.9 | 0.9 | 30.2% |
| FY24 | 21.9 | 3.2 | 2.1 | 1.5 | 18.1% |
| FY23 | 21.2 | 2.9 | 4.7 | 4.3 | 19.7% |
Mehul Colours IPO SUBSCRIPTION STATUS DETAILS
Mehul Colours had 3.0 M shares on offer
Mehul Colours IPO offer price was in the range ₹68 - ₹72
Mehul Colours IPO minimum Investment was ₹217600
Mehul Colours IPO issue size was ₹ 204.5 M - ₹ 216.6 M
Mehul Colours had a minimum lot size of 1600 Shares per application
Mehul Colours NUMBER OF SHARES ON OFFER
Mehul Colours IPO IMPORTANT DATES
| Issue Open Date | 30 Jul 2025 |
| Issue close Date | 01 Aug 2025 |
| Allotment Date | 04 Aug 2025 |
| Refund Date | 05 Aug 2025 |
| Demat Account Credit Date | 05 Aug 2025 |
| Listing Date | 06 Aug 2025 |
| Listing on Exchange(s) | BSE |
| Mehul Colours Allotment Status | Exchange/ Registrar |
Mehul Colours IPO subscription opened on 30 Jul 2025, and closed on 01 Aug 2025
IPO allotment for Mehul Colours was finalized on Monday, 04 Aug 2025
IPO listing for Mehul Colours was on BSE on Wednesday, 06 Aug 2025
Mehul Colours IPO LISTING GAINS
| Issue Price (adjusted) | 72.0 |
| Listing Open Price | 85.0 |
| Listing Close Price | 86.0 |
| Listing Gain% | 18.1% |
| Current Gain% | -29.5% |
Mehul Colours Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mehul Colours Ltd. | 50.8 | 53.5 | 10.3 | -2 | 1.7 | 12.6 | 11.6 | 31.8 | 34.2 | 5.2 | -5.1 | 5 | -5.1 |
| Pidilite Industries Ltd. | 1660 | 168953.2 | 63.8 | 3 | 11 | 22.6 | 15.9 | 14867 | 11.1 | 2448.9 | 17.9 | 26 | 21.4 |
| SRF Ltd. | 2615 | 77515.1 | 35.9 | 0.7 | 4.6 | 13.1 | 7.6 | 15893.6 | 7.2 | 1835.2 | 46.7 | 72.9 | 51.1 |
| Gujarat Fluorochemicals Ltd. | 4518.1 | 49631.3 | 85.9 | 14.7 | 9.9 | 7.3 | 4.9 | 5038 | 3.8 | 578 | 5.8 | 52.6 | 5.9 |
| Himadri Speciality Chemical Ltd. | 752.6 | 37975.8 | 47.5 | 1.6 | 7.6 | 16 | 11.9 | 4832 | 3.6 | 751.3 | 35.2 | 15.8 | 30 |
| Aether Industries Ltd. | 1591.6 | 21122.5 | 89.8 | 2.6 | 17.3 | 8.9 | 6.8 | 1181.1 | 34.2 | 219.5 | 38.5 | 17.7 | 34 |
Mehul Colours INFORMATION ON IPO ISSUE
About Mehul Colours
Mehul Colours was incorporated on December 12, 1995. The company manufactures masterbatches pigment and additive blends used to color and enhance plastic products. These improve visual appeal and add properties like UV resistance, flame retardancy, and anti-static behavior
Object of the Issue
- Funding of capital expenditure towards setup of a new manufacturing facility
- Funding of working capital requirements
- General corporate purposes
Mehul Colours - PROMOTERS
| Name |
|---|
| Mehul Pravinchandra Joshi |
| Bhakti Mehul Joshi |
Mehul Colours - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Mehul Pravinchandra Joshi | Chairman & Managing Director |
| Bhakti Mehul Joshi | Whole Time Director |
| Hiral Rasikbhai Joshi | Non-Executive Director |
| Jyoti Abhay Jain | Independent Director |
| Khyati Chetan Ghandhi | Independent Director |
Mehul Colours Book Running Lead Manager
Seren Capital Private Limited
info@serencapital.in
Mehul Colours Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Mehul Colours Strengths
In-house manufacturing facilities
The company operates two manufacturing units in Tungareshwar Industrial Estate, Vasai East, Mumbai, covering 6,400 sq. ft. These facilities are equipped for compounding and extrusion to produce customized masterbatch solutions
Diversified customer base
The company offers a wide range of colouring solutions like black, white, colour, special effects, additive, and filler masterbatches. These are used across industries, enabling it to serve diverse customer and application needs
Client relationship
The company has built long-term customer relationships, with some clients associated for over five years. A dedicated sales team supports these ties, boosting customer satisfaction and market reach
Mehul Colours Risks
Quality risks
The company’s products follow strict quality standards, and any lapse may lead to order cancellations, customer loss, or reputational damage. Defects or non-compliance could also result in warranty, recall, or liability claims
Licenses & approvals
The company needs specific licenses and approvals to operate, and any failure to obtain or renew them on time may impact its operations and financial health
Competition
The masterbatch and pigment industry is highly competitive and fragmented, with many domestic and global players. Key competitors include larger firms like Plastiblends India, Polylink Polymers, Deep Polymers, and Poddar Pigments
IPO FAQs
The promoters of the company are Mehul Pravinchandra Joshi and Bhakti Mehul Joshi.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 68.0 - 72.0.
The IPO application opens on Jul 30, 2025 and closes on Aug 01, 2025.
The minimum lot size for the IPO is 3200. The maximum lot size for the IPO is 3200.
For all category investors, the minimum application amount for this IPO is Rs. 217,600.0, the maximum value for this IPO is Rs 230,400.0.
This IPO will be allotted on Aug 04, 2025.
The refund will be credited to your account on Aug 05, 2025.
The allotted shares will be credited to your demat on Aug 05, 2025.
Mehul Colours Ltd.’s shares listed on the stock exchanges on Aug 06, 2025.