TruAlt Bioenergy IPO: Check Day 1 Subscription Status, GMP, Other Details
The IPO has a price band set between Rs 472 and Rs 496 per share. Each lot size consists of 30 shares.
TruAlt Bioenergy Ltd.'s initial public offering to open for subscription on Thursday to raise nearly Rs 839.28 crore from the primary market. 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 has a price band set between Rs 472 and Rs 496 per share. Each lot size consists of 30 shares.
TruAlt Bioenergy IPO is scheduled to open on Sept. 25, and will close on Sept. 29.
The retail investors require a minimum investment of Rs 14,880 at the upper price band. For Small Non-Institutional Investors (sNII), the minimum investment is 14 lots or 420 shares, totalling Rs 2,08,320. For Big Non-Institutional Investors (bNII), it is 68 lots or 2,040 shares, amounting to Rs 10,11,840.
The basis of allotment is expected to be finalised on Sept. 30. The tentative listing date for TruAlt Bioenergy on the BSE and NSE is Oct. 3 .
Dam Capital Advisors Ltd. is the book running lead manager and Bigshare Services Pvt. Ltd. is the registrar of the issue.
Use Of Proceeds
Founded in 2021, TruAlt Bioenergy is primarily engaged in the production of biofuels, with a strong focus on the ethanol segment.
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.
For the financial year ended March 31, TruAlt Bioenergy reported a significant jump in total income at Rs 1,968.53 crore, up from Rs 1,280.19 crore the previous year. Profit after tax also saw strong growth, increasing to Rs 146.64 crore from Rs 31.81 crore. Ebitda for the same period stood at Rs 309.14 crore, compared to Rs 188.09 crore in FY24.
Subscription: Day 1
The TruAlt Bioenergy IPO was subscribed 0.09 times or 9% as of 12:21 p.m. on Thursday.
Institutional investors (QIB): nil.
Non-Institutional investors (NII): 0.10 or 10%
Retail investors: 0.14 times or 14%
TruAlt Bioenergy: IPO GMP
The latest grey market premium of TruAlt Bioenergy is Rs 75 as of 11:36 a.m. according to Investorgain.com. The stock's estimated listing price is Rs 571, implying a gain of 15.12% over the IPO price of Rs 496.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
