True Colors Ltd: IPO Proceeds Utilization Aligns with Prospectus

True Colors Ltd has submitted its Monitoring Agency Report for the quarter ended June 30, 2026, prepared by CRISIL Ratings Limited. The report confirms that the utilization of proceeds from the company's Initial Public Offering (IPO) has been in line with the objects stated in the prospectus dated September 26, 2025. There has been no deviation in the use of funds, as reviewed and taken on record by the Board of Directors and Audit Committee. The IPO, which involved a fresh issuance of equity shares, raised Rs. 108.86 crores (net proceeds of Rs. 100.70 crores).