TruAlt Bioenergy IPO: Price Band, Financials, Key Dates And More — All You Need To Know

TruAlt Bioenergy Ltd.'s initial public offering will open on Thursday to sell shares worth up to Rs 839 crore. The company will raise Rs 750 crore via a fresh issue of equity.

Investors can bid for the Bengaluru-based company's IPO at a price band of Rs 472-496 per share. An offer of sale of 18 lakh shares by promoters Dhraksayani Sangamesh Nirani and Sangamesh Rudrappa Nirani is also part of the IPO.

The lot size for an application is 1 aggregating to 30 shares, which means the minimum amount of investment required by a retail investor is Rs 14,880 based on the upper price band. Small institutional investors will need to buy a minimum of 14 lots aggregating to 420 shares, which means they will need to invest Rs 2.08 lakh and big institutional investors will have to buy a minimum of 68 lots, that is an investment of at least Rs 10.11 lakh.

DAM Capital Advisors ltd. and SBI Capital Markets Ltd. are the book-running lead managers, while Bigshare Services Pvt. is the registrar of the offer.

TruAlt Bioenergy will seek investments from large institutions under the pre-IPO anchor round on Sept. 24. The IPO will close on Sept. 29, and the allotment of shares to investors will be tentatively done on Sept. 30.

The stock will list on the BSE and NSE on Oct. 3. TruAlt Bioenergy applied for an IPO in August 2024.

• Open date: Sept. 25

• Close date: Sept. 29

• Price Band: Rs 472-496 per share

• Allotment date: Sept. 30

• Listing date: Oct. 3

• IPO size: Rs 839 crore

• Fresh issue: Rs 750 crore

• OFS: 89.28 crore

• Minimum bid: Lot size of 16 shares

The fresh issue proceeds will go towards these three main areas:

• Funding capital expenditure towards setting up multi-feed stock operations to pave the way for utilizing grains as an additional raw material in ethanol plants at TBL Unit 4 of 300 KLPD capacity.

• Funding working capital requirements.

• General corporate purposes.

TruAlt Bioenergy is a Bengaluru-based biofuels producer with an installed ethanol production capacity of 2,000 kilo litres per day 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’s profit for the year stood at Rs 146.63 crore, with a top line of Rs 1,907 crore in the financial year 2025. In FY24, the company reported a profit of 31.80 crore, as opposed to a revenue of Rs 1,280 crore.