Mumbai (Maharashtra) [India], July 28: Mehul Colours Limited (Mehul Colours, The Company), a customised and specialised masterbatch manufacturer, proposes to open its Initial Public Offering on July 30, 2025, aiming to raise ₹ 21.66 crore (at upper price band), with the shares proposed to be listed on the BSE SME platform.
The issue size is 30,08,000 equity shares with a face value of ₹10 each, with a price band of ₹68-₹72 per share.
Equity Share Allocation
- QIB Anchor Portion – Up to 8,54,400 Equity Shares
- Qualified Institutional Buyer – Up to 5,71,200 Equity Shares
- Non-Institutional Investors – Not Less than 4,28,800 Equity Shares
- Retail Individual Investors – Not Less than 10,01,600 Equity Shares
- Market Maker – Up to 1,52,000 Equity Shares
The net proceeds from the IPO will be utilised for capital expenditure towards the setup of a new manufacturing facility, working capital requirements, and for general corporate purposes. The anchor portion will open and close on July 29, 2025.
The Book Running Lead Manager to the Issue is Seren Capital Private Limited, and the Registrar is Bigshare Services Private Limited.
Mr. Mehul Pravinchandra Joshi, Managing Director of Mehul Colours Limited, expressed, “This IPO marks a pivotal milestone in the journey of Mehul Colours. We have built a reputation as a reliable and quality-focused partner for masterbatches across India and abroad. Our expertise in producing colour and additive masterbatches—tailored for diverse applications—has helped us serve clients across sectors such as packaging, consumer goods, wires & cables and electrical accessories.
The capital raised will be instrumental in enhancing our R&D capabilities, expanding production infrastructure, and accelerating product innovation. Our focus is on building advanced, sustainable, and customer-specific masterbatch solutions that align with the evolving needs of the plastic processing ecosystem.
We believe this IPO will empower us to scale operations, deepen our market presence, and reinforce our position as a leading player in the colour and additive masterbatch segment.”
Mr. Gautam Lath, Director of Seren Capital Private Limited– the Book Running Lead Manager (BRLM) to the issue – said, “We are pleased to be associated with Mehul Colours Limited as the BRLM for its IPO. The Company has over two decades of experience in manufacturing customised colour and additive masterbatches for various polymer applications, including packaging, consumer goods, wires & cables, and electrical accessories. It has a presence in both domestic and export markets. In Fiscal 2025, the Company supplied masterbatches to over 500+ customers spanning a broad array of industries, including stationery, plastic household products, plastic toys, agricultural tools, pipes and fittings, packaging materials, wires & cables, electrical switches & accessories, sheets and various other plastic products. The Company intends to utilize the IPO proceeds for setting up a new manufacturing facility, meeting working capital requirements and for general corporate purposes.”
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Divya Agarwal
