Shares of TruAlt Bioenergy Ltd. will be listed on the BSE and NSE on October 3. The allotment of shares was completed on September 30, while the subscription window was open from September 25 to September 29.
The mainboard issue was oversubscribed 65.01 times on the last day of share sale 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.
Ahead of its listing on Friday, there is also a buzz around the grey market premium of the IPO. The unlisted shares of TruAlt Bioenergy were trading at a premium in the private market, indicating a potential gain of up to 18-19% when the shares debut on the market today.
Here's all the latest news surrounding the listing of TruAlt Bioenergy IPO.
TruAlt Bioenergy IPO GMP Today
The grey market premium (GMP) for TruAlt Bioenergy IPO was Rs 90 as of 8:00 a.m. on October 3. With the upper end of the price band at Rs 496, the IPO’s estimated listing price is Rs 586 (cap price plus today’s GMP), implying a potential gain of around 18.15% per share.
The unlisted shares of TruAlt Bioenergy were trading as high as Rs 603 when the IPO opened for subscription.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
TruAlt Bioenergy IPO: Key Details
The IPO is a book-built issue that comprises 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 IPO had a price band set between Rs 472 and Rs 496 per share. Each lot size consisted of 30 shares.
The retail investors required a minimum investment of Rs 14,880 at the upper price band. For Small Non-Institutional Investors (sNII), the minimum investment was 14 lots or 420 shares, totalling Rs 2,08,320. For Big Non-Institutional Investors (bNII), it was 68 lots or 2,040 shares, amounting to Rs 10,11,840.
Dam Capital Advisors Ltd. is the book-running lead manager and Bigshare Services Pvt. Ltd. is the registrar of the issue.
Use Of Proceeds
Around Rs 150 crore of the proceeds from the IPO will be used for capital expenditure. Nearly Rs 425 crore is allocated for working capital. The remaining funds will be used for general corporate purposes.
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