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3h ago

TruAlt Bioenergy Sets Rs 472–496 Price Band for Rs 839-Crore IPO Opening Sept. 25

Proceeds will fund multi-feedstock upgrades to enable grain-based ethanol, reflecting a push to cut raw‑material seasonality.

TruAlt Bioenergy IPO
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Overview

  • The issue comprises a Rs 750 crore fresh issue plus an offer for sale of 18 lakh shares by promoters Dhraksayani Sangamesh Nirani and Sangamesh Rudrappa Nirani, totaling about Rs 839 crore.
  • Anchor investor allocation is slated for September 24, the subscription window runs September 25–29, allotment is expected September 30, and listing is targeted for October 3 on the BSE and NSE.
  • Of the fresh proceeds, Rs 150.68 crore will go to a 300 KLPD multi-feedstock setup at Unit 4 to enable grain use, Rs 425 crore will fund working capital, with the balance for general corporate purposes.
  • Investor allocation is set at up to 50% for QIBs, at least 35% for retail and 15% for non-institutional investors, with a minimum application of 30 shares.
  • The Bengaluru-based ethanol producer reports 2,000 KLPD installed capacity (1,800 KLPD operational as of March 31, 2025) and a FY25 market share of about 3.6% per Crisil, with DAM Capital and SBI Capital Markets as lead managers.