True Colors Limited's debt-to-equity ratio is projected to further decrease from its current level of 0.86 (down from 3.15 in 2023) due to the planned use of IPO proceeds for loan repayment.
"debt to equity ratio which was at 3.15 in 2023 has come down to.86. Is there any chance of reducing this debt further? ... a big chunk again is going to be used for prepayment or repayment of loans."