TruAlt Bioenergy Ltd. made its debut on the stock market at a premium of nearly 11% over its IPO offer on Friday. The share price opened at Rs 545 on the NSE and Rs 550 on the BSE, compared to the issue price of Rs 496.
The initial public offer of TruAlt Bioenergy was subscribed 71.92 times on the last day on Monday, helped by strong participation from non-institutional buyers.
The Rs 839-crore IPO received bids for 88,85,66,820 shares against 1,23,55,424 shares on offer, as per BSE data.
The quota for Qualified Institutional Buyers (QIBs) was subscribed 159.22 times. The non-institutional investors part attracted 98.56 times subscription, and the retail investors portion got subscribed 11 times.
The IPO was a book-built issue that comprised a fresh issue of 1.51 crore shares aggregating Rs 750 crore and an offer-for-sale of 0.18 crore shares totalling Rs 89.28 crore.
The unlisted shares of TruAlt Bioenergy were trading at a premium in the private market, indicating a potential gain of up to 22% at listing.
About TruAlt Bioenergy
TruAlt Bioenergy is a Bangalore-based biofuels producer with an installed ethanol production capacity of 2,000 kilo litres per day (KLPD) and an operational capacity of 1,800 KLPD, as of March 31, 2025. Its market share in FY25 stood at 3.6%, as per a Crisil report cited in the offer documents.
The company will spend Rs 150.68 crore of the fresh issue proceeds for setting up multi-feed stock operations to pave the way for utilising grains as an additional raw material in ethanol plants at Unit 4 of 300 KLPD capacity.
Further, Rs 425 crore will be used for working capital requirements, while the company will set aside the remaining fresh issue funds for general corporate purposes.
By March 2026, out of the 2,000 KLPD installed capacity, the company intends to convert 1,300 KLPD of current mono feed (sugarcane juice/sugar syrup/molasses) capacity to dual-feed, capable of producing ethanol from grainbased feedstocks or grains unfit for human consumption. It also intends to increase operational capacity from 1,800 KLPD to 2,000 KLPD.
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