TruAlt Bioenergy IPO GMP Gains Ahead Of Sept. 25 Launch — Check Key Details

TruAlt Bioenergy Ltd. is gearing up to launch its initial Public Offering (IPO) on Sept. 25, to raise nearly Rs 839.28 crore from the primary market. Founded in 2021, TruAlt Bioenergy is primarily engaged in the production of biofuels, with a strong focus on the ethanol segment. Here's everything you need to know about the TruAlt Bioenergy IPO, including the price band, grey market premium (GMP), and offer size, among other important details.

According to InvestorGain, the GMP for TruAlt Bioenergy IPO is Rs 65, as of 12 noon on Wednesday. With a price band cap of Rs 496, the IPO’s estimated listing price is around Rs 561. This suggests an expected gain of approximately 13.10% per share on listing.

The latest GMP marks a steady upward movement compared to the trend on Sept. 22, when it was at 10.89%, as per InvestorGain website.

Note: GMP does not represent official data and is based on speculation.

TruAlt Bioenergy IPO is a book-built issue of Rs 839.28 crore and comprises a fresh issue of 1.51 crore shares aggregating Rs 750 crore and an offer for sale (OFS) of 0.18 crore shares totalling Rs 89.28 crore.

TruAlt Bioenergy IPO has a price band set between Rs 472 and Rs 496 per share. Each lot size consists of 30 shares. This means 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.

Dam Capital Advisors Ltd. is the book running lead manager and Bigshare Services Pvt. Ltd. is the registrar of the issue.

TruAlt Bioenergy IPO is scheduled to open on Sept. 25 (Thursday), and will close on Sept. 29 (Monday). The basis of allotment is expected to be finalised on Sept. 30 (Tuesday). Refunds will be initiated on Oct. 1 (Wednesday). The tentative listing date for TruAlt Bioenergy on the BSE and NSE is Oct. 3 (Friday).

Around Rs 150 crore of the proceeds from TruAlt Bioenergy’s 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.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.