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Mehul Colours to debut on SME platform today
Mehul Colours is making its BSE SME debut this Wednesday, with shares expected to list between ₹83 and ₹85—about 16% above the issue price, if you go by the gray market buzz.
The IPO raised ₹21.66 crore from a fresh issue of 30.08 lakh shares and was nearly eight times oversubscribed.
What the numbers say
The IPO got a strong thumbs-up: big institutional investors subscribed over 13 times, non-institutional folks nearly 11 times, and retail investors more than three times.
Most of the funds will go toward a new manufacturing unit and working capital.
Founded in 1995, Mehul Colours makes masterbatches for plastics; their FY25 revenue grew 5% to ₹23.71 crore, while profits soared by 71% to ₹5.5 crore—signs they're gearing up for bigger things ahead.