Mehul Colours Limited is primarily engaged in the manufacturing of masterbatches — concentrated blends of pigments and additives used in the plastics industry. These masterbatches help impart colour and enhance functional properties like UV resistance, flame retardancy, and anti-static behavior in plastic products, ensuring uniform colour distribution and improved quality.
The company offers a wide range of products:
- Colour masterbatches – for consistent and vibrant colouring.
- Additive masterbatches – for improved durability and functionality (e.g., UV stabilizers, flame retardants).
- Special effect masterbatches – providing finishes like metallic, pearl, glitter, and wood effect.
- Filler masterbatches – used to enhance rigidity and processability.
The company’s operates two facilities in Tungareshwar Industrial Estate, Vasai East, Mumbai, with capacities of 10,56,000 kg and 2,28,000 kg, each covering 3,200 sq. ft. of built-up area.
In FY 2025, Mehul Colours catered to 500+ customers across industries such as stationery, household goods, toys, packaging, pipes, cables, and more. Besides masterbatches, it also sells pigments, blended to offer customised colour solutions, which contributed around 15.83% of revenue, while masterbatches formed the remaining 84.17%.
As of June 30, 2025, the company employs 32 permanent staff members, contributing to its operations and growth.
Mehul Colours IPO – Details
| IPO Opening Date | 30 July 2025 |
| IPO Closing Date | 01 August 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue: 30,08,000 Shares Worth ₹21.66 Crore Fresh Issue: 30,08,000 Shares Worth ₹21.66 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹68 – ₹72 per share |
| Market Lot | 1600 Shares |
| Min Order | 1600 Shares [ 1 Lot ] |
| Listing At | BSE SME |
| Registrar | Bigshare Services Pvt Ltd |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Mehul Colours IPO – Date Schedule
| IPO Open Date | 30 July 2025 |
| IPO Close Date | 01 August 2025 |
| Basis of Allotment | 04 August 2025 |
| Initiation of Refund | 05 August 2025 |
| Credit of Shares to Demat | 05 August 2025 |
| IPO Listing Date | 06 August 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 01, 2025 |
Mehul Colours IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 3,200 | ₹2,30,400 |
| Retail (Max) | 2 | 3,200 | ₹2,30,400 |
| S-HNI (Min) | 3 | 4,800 | ₹3,45,600 |
| S-HNI (Max) | 8 | 12,800 | ₹9,21,600 |
| B-HNI (Min) | 9 | 14,400 | ₹10,36,800 |
Competitive Strengths
- In-house manufacturing facilities with integrated testing & R&D capabilities.
- Well diversified customer base spread across various industries & geography.
- Long term relationship with the customers.
- Experienced Promoters with Industry Expertise.
Company Promoters
- Mehul Pravinchandra Joshi
- Bhakti Mehul Joshi
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowings |
|---|---|---|---|---|
| 31 March 2023 | ₹21.37 Cr | ₹17.27 Cr | ₹2.94 Cr | ₹0 Cr |
| 31 March 2024 | ₹22.66 Cr | ₹18.31 Cr | ₹3.22 Cr | ₹0.36 Cr |
| 31 March 2025 | ₹23.71 Cr | ₹16.31 Cr | ₹5.50 Cr | ₹0 Cr |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 38.46% |
| ROCE | 43.53% |
| RoNW | 32.26% |
| PAT Margin | 24.11% |
| EBITDA Margin | 30.17% |
| Price to Book Value | 4.70 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 7.30 | 5.22 |
| P/E (x) | 9.87 | 13.80 |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| Funding of capital expenditure towards the setup of a new manufacturing facility. | ₹14.63 |
| Funding of Working Capital Requirements. | ₹4.00 |
| General Corporate Purposes. |
✅Strengths
- Diverse product range: masterbatches & pigments for various industries.
- In-house R&D and manufacturing.
- Wide customer base (500+ clients).
- Experienced promoters.
- Consistent growth in revenue & profits.
⚠️Risks
- Intense competition from bigger players.
- Reliance on repeat orders (no long-term contracts).
- High working capital needs.
- Limited export contribution.
- Rapid tech changes may need more investment.
Mehul Colours IPO Promoter Holding
| Pre Issue Share Holding | 96.86% |
| Post Issue Share Holding | – |
Mehul Colours IPO Prospectus
Company Contact Information
| Mehul Colours Ltd. Unit No – A 305,306, Kemp Plaza, Link Road, Chincholi Bunder Road, Mind Space, Near Evershine Mall, Malad West Mumbai, Maharashtra, 400064 Phone: +91-22-2872 3555 Email: info@mehulcolours.com Website: https://www.mehulcolours.com/ |
Mehul Colours IPO Registrar
| Bigshare Services Pvt Ltd Phone: +91-22-6263 8200 Email: ipo@bigshareonline.com Website: https://ipo.bigshareonline.com/IPO_Status.html |
Mehul Colours IPO Lead Manager(s)
| 1. Seren Capital Private Limited |
Mehul Colours IPO FAQ
| What is Mehul Colours IPO? Mehul Colours IPO is an SME IPO. The issue is priced at ₹68 to ₹72 per equity share. The IPO is to be listed on BSE SME. |
| When Mehul Colours IPO will open? The IPO is to open on 30 July 2025 for QIB, NII, and Retail Investors. |
| What is Mehul Colours IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Mehul Colours IPO? You can apply Mehul Colours IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Mehul Colours IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Mehul Colours IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Mehul Colours IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Mehul Colours IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Mehul Colours IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Mehul Colours IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Mehul Colours IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Mehul Colours IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is the Mehul Colours IPO Size? Mehul Colours IPO size is ₹21.66 Crore. |
| What is the Mehul Colours IPO Price Band? Mehul Colours IPO Price Band is ₹68 to ₹72. |
| What is Mehul Colours IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 3200 Shares with ₹2,30,400 amount, while the maximum bid is 3200 Shares with ₹2,30,400. |
| What is the Mehul Colours IPO Allotment Date? Mehul Colours IPO allotment date is 04 August 2025. |
| What is the Mehul Colours IPO Listing Date? Mehul Colours IPO listing date is 06 August 2025. The IPO is to be listed on the BSE SME. |
