TruAlt Bioenergy Ltd, a prominent Bengaluru-based biofuels producer, has commenced its Initial Public Offering (IPO) on September 25, 2025, aiming to raise ₹839.38 crore. The IPO comprises a fresh issue of 1.51 crore equity shares aggregating to ₹750 crore and an offer for sale of 0.18 crore shares valued at ₹89.28 crore at the upper price band.
The price band for the IPO is set between ₹472 and ₹496 per share, with a face value of ₹10 each. Investors can bid for a minimum of 30 shares, translating to a minimum investment of ₹14,880 at the upper price band. The subscription period will remain open until September 29, 2025, with the allotment process expected to be finalized by September 30. Shares are scheduled to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on October 3, 2025.
Ahead of the public offering, TruAlt Bioenergy secured ₹252 crore from anchor investors, including Tata Mutual Fund, HDFC Mutual Fund, Bandhan Mutual Fund, SBI General Insurance Company, Societe Generale, and Citigroup Global Markets Mauritius. These investors were allotted 50.76 lakh equity shares at ₹496 per share.
The proceeds from the IPO will be utilized for expanding the company’s ethanol production capacity, establishing multi-feedstock operations, and reducing existing debt. TruAlt Bioenergy is among India’s leading ethanol producers, with an installed capacity of 2,000 kiloliters per day (KLPD), accounting for approximately 3.6% of the national capacity in Fiscal 2025.
In the grey market, the shares of TruAlt Bioenergy are trading at a premium of around ₹80 over the issue price, indicating positive sentiment among investors ahead of the listing.
Analysts view the IPO favorably, citing the company’s strong position in the biofuels sector and the government’s supportive policies promoting renewable energy. However, they also caution about the risks associated with the volatility of raw material prices and regulatory changes in the biofuels industry.
Investors interested in participating in the IPO can apply through various online platforms and stockbrokers. Given the promising outlook for the biofuels sector and the company’s strategic initiatives, TruAlt Bioenergy’s IPO presents an opportunity for investors seeking exposure to the growing renewable energy market in India.
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