TruAlt Bioenergy IPO: Ethanol producer sets price band at ₹482 to ₹496 per share; check lot size, objectives, financials and more

TruAlt Bioenergy IPO: Biofuel producer TruAlt Bioenergy will launch its ₹839.28 crore initial public offering on Thursday, September 25. The company has announced a price band of ₹482 to ₹496 per share.

The bidding for anchor investors will occur on September 24. The issue will conclude on September 29.

The initial share sale is a mix of a fresh issuance of ₹750 crore and an offer for sale of ₹89.28 crore by promoters Dhraksayani Sangamesh Nirani and Sangamesh Rudrappa Nirani.

The funds generated will be used for establishing multi-feed stock operations to allow utilising grains as an additional raw material in ethanol plants at TBL Unit 4 of 300 KLPD capacity, for working capital needs and for general corporate purposes.

TruAlt Bioenergy IPO: Lot size

The minimum bid lot for TruAlt Bioenergy shares is 30 shares. The company has reserved 50% of the net offer for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.

TruAlt Bioenergy IPO timeline: Allotment and listing dates

• Basis of allotment: September 30, 2025
• Refund initiation: October 1
• Credit of shares to Demat account: October 1
• Listing on NSE and BSE: October 3

About TruAlt Bioenergy

TruAlt Bioenergy is among India's largest biofuels producers, particularly in the ethanol sector. As per the red herring prospectus (RHP), it is the country's largest ethanol producer based on installed capacity. It holds a market share of 3.6% in terms of ethanol production capacity for the financial year 2024-25.

It has five distillery units in Karnataka. Its business operations span across ethanol production and compressed biogas, or CBG, production. The firm also proposes to enter other verticals, including second-generation ethanol (2G ethanol), sustainable aviation fuel, and mevalonolactone and allied biochemicals.

TruAlt Bioenergy IPO financials