TruAlt Bioenergy Limited Management Team at the Company IPO Announcement today in Mumbai
Mr. Vijay Nirani, MD, TruAlt Bioenergy Limited at the IPO announcement today in Mumbai
TruAlt Bioenergy Limited
Price band of Rs 472 – Rs 496 per Equity Share bearing face value of Rs 10 each (“Equity Shares”)
Bid/Offer Opening Date – Thursday, September 25, 2025 and Bid/Offer Closing Date – Monday, September 29, 2025.
Minimum Bid Lot is 30 Equity Shares and in multiples of 30 Equity Shares thereafter.
MUMBAI, 22 SEPTEMBER, 2025 (GPN/ SACHIN MURDESHWAR, 📞 8108510506): TruAlt Bioenergy’s initial public offering (IPO) opens for subscription on Thursday, 25 September, and closes on Monday, 29 September. The price band is set between Rs 472 and Rs 496 per equity share of face value Rs 10. Investors can apply for a minimum lot of 30 shares. The company aims to raise Rs 750 crore via fresh issue, while promoters Dhraksayani Sangamesh Nirani and Sangamesh Rudrappa Nirani will offload 18 lakh shares through an offer-for-sale (OFS). The IPO will be listed on both BSE and NSE, with allotment expected on Tuesday, 30 September and listing on Friday, 3 October.
The IPO has reserved not more than 50% of shares for qualified institutional buyers (QIB), not less than 15% for non-institutional investors (NII), and at least 35% for retail individual investors (RII). Anchor investor allocation is scheduled for Wednesday, 24 September, ahead of the opening date.
TruAlt Bioenergy, headquartered in Bangalore, operates with an ethanol production capacity of 2,000 kilo litres per day (KLPD). The fresh issue proceeds are intended to fund multi-feedstock operations at unit 4 (300 KLPD), enabling the use of grains as an additional raw material. Rs 150.68 crore will go towards this expansion, Rs 425 crore will be allocated for working capital, and the remainder will be used for general corporate purposes.
DAM Capital Advisors and SBI Capital Markets are the lead managers, while Bigshare Services Pvt. Ltd. is the issue registrar. The price band reflects the company’s valuation, with a floor price 47.20 times and a cap price 49.60 times the face value of the shares.
Trualt Bioenergy has reported a profit of Rs. 146.6 crore for FY25, representing a growth of 361 percent from the Rs. 31.8 crore earned in the last fiscal year. During the same period, revenue increased by 56 percent, reaching Rs. 1,907.7 crore, a rise from Rs. 1,223.4 crore.
The basis of allotment is set for Tuesday, 30 September. Refunds to unsuccessful applicants will begin on Wednesday, 1 October, with shares credited to successful bidders’ demat accounts on the same day. Trading is expected to commence from 3 October on the BSE and NSE.
Trualt Bioenergy Limited, founded in 2021, is involved in biofuel production, primarily concentrating on the ethanol industry. It ranks among India’s largest ethanol producers, boasting an installed capacity of 2,000 kilo litres per day (KLPD). In Fiscal 2025, the company holds a 3.6% share of the ethanol production capacity market.
The company’s operations include both ethanol and compressed biogas (CBG) production. As of March 31, 2025, its subsidiary, Leafinity, manages a CBG production facility with a capacity of 10.20 TPD (Tonnes per day). To enhance its CBG capabilities, it has signed Memorandums of Understanding (MoUs) with a Japanese gas company and Sumitomo Corporation Asia & Oceania Pte. Ltd.Trualt Bioenergy, which competes with Balrampur Chini Mills, Triveni Engineering, and Dalmia Bharat Sugar, operates five distillery units in Karnataka, including four that produce ethanol from molasses and syrup-based feedstocks.
The company has plans to explore additional sectors, such as second-generation ethanol, sustainable aviation fuel, Mevalonolactone (“MVL”), and other allied biochemical products.
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