True Colors Limited Faces Compliance Issue Over IPO Proceeds Placement in Q3FY26
Published on: Feb. 14, 2026, 10:44 p.m. | Source: scanx.trade
True Colors Limited's Q3FY26 monitoring report revealed a compliance violation where Rs 20 crore of IPO proceeds were placed in a non-scheduled cooperative bank, breaching SEBI guidelines. The company utilized Rs 73.70 crore of Rs 100.70 crore net proceeds, with complete debt repayment and partial working capital funding. The compliance issue has been rectified with funds returned to the monitoring account on February 13, 2026.
