Mehul Colours shares to debut today. Here's what GMP signals
ADVERTISEMENT The Rs 21.66 crore IPO, entirely a fresh issue of 30.08 lakh equity shares, was open for subscription between July 30 and August 1.
It received solid interest across investor segments, closing with an overall subscription of 7.98 times. Qualified institutional buyers (QIBs) led the demand with a subscription of 13.54 times, followed by non-institutional investors (10.91 times) and retail investors (3.56 times).
Founded in 1995, Mehul Colours is engaged in the manufacturing and export of masterbatches—colour and additive concentrates used in plastics.The company produces a range of white, black, colour, and additive masterbatches along with organic and inorganic pigments.The IPO proceeds will be primarily used to set up a new manufacturing facility (Rs 14.63 crore) and fund working capital requirements (Rs 4 crore), with the remainder allocated for general corporate purposes.
ADVERTISEMENT On the financial front, Mehul Colours reported a 5% year-on-year revenue increase to Rs 23.71 crore in FY25, while profit after tax jumped 71% to Rs 5.5 crore.The decent subscription levels and premium in the grey market suggest a healthy listing, but post-listing performance may hinge on how effectively the company executes its expansion and scales in a crowded market.
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