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  1. TruAlt Bioenergy IPO opens: From price band, objectives to lot size, key things to consider

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TruAlt Bioenergy IPO opens: From price band, objectives to lot size, key things to consider

Kamal Joshi

3 min read | Updated on September 25, 2025, 10:39 IST

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SUMMARY

TruAlt Bioenergy IPO: The ₹839.28 crore initial share sale is a mix of a fresh issuance of shares valued at ₹750 crore as well as an offer for sale of ₹89.28 crore by promoters Dhraksayani Sangamesh Nirani and Sangamesh Rudrappa Nirani.

TruAlt Bioenergy Ltd is India's largest ethanol producer based on installed capacity. | Image: trualtbioenergy.com

TruAlt Bioenergy Ltd is India's largest ethanol producer based on installed capacity. | Image: trualtbioenergy.com

TruAlt Bioenergy IPO: Biofuels producer TruAlt Bioenergy's ₹839.28 crore initial public offering opened for subscription on Thursday, September 25. The issue, which has set a price band of ₹472 to ₹496 per share, will conclude on Monday, September 29.

The IPO is a mix of a fresh issuance of shares valued at ₹750 crore as well as an offer for sale of ₹89.28 crore by promoters Dhraksayani Sangamesh Nirani and Sangamesh Rudrappa Nirani.

Of the fresh issue proceeds, ₹150.68 crore will be used for setting up multi-feed stock operations, ₹425 crore for working capital needs and the rest for general corporate purposes.

The minimum investment for a retail investor is 30 shares and in multiples thereafter.

TruAlt Bioenergy IPO day 1: Subscription status

The issue has been booked 3% so far on the first day of subscription, with bids for 4,21,860 shares compared to 1,23,55,424 shares on offer, according to the NSE data until 10:38 pm.

CategorySubscription Status
Qualified Institutional Buyers (QIBs)-
Non-Institutional Investors5%
Retail Investors5%
Total3%

Prior to the IPO, the company raised ₹252 crore from anchor investors, including Tata Mutual Fund (MF), Bandhan MF, HDFC MF, SBI General Insurance Company, Citigroup Global Markets Mauritius and Societe Generale.

The company allotted 50.76 lakh shares to 19 funds at ₹496 per share, according to a circular on the BSE website.

TruAlt Bioenergy IPO: Allotment and listing dates

EventDate
Subscription periodSeptember 25 to September 29
Allotment finalisationSeptember 30
Initiation of RefundsOctober 1
Credit of Shares to DematOctober 1
Listing date on NSE and BSEOctober 3
Ganesh Consumer Products IPO allotment status: How to check online on NSE, BSE, MUFG Intime India; listing date here
Based in Bengaluru, TruAlt Bioenergy is one of the leading biofuels producers, primarily of ethanol. The firm is diversifying into new areas like second-generation (2G) ethanol, using surplus bagasse, which is a by-product of sugar production, as a raw material.

DAM Capital Advisors and SBI Capital Markets are the issue's book-running lead managers, while Bigshare Services serves as the registrar.

TruAlt Bioenergy IPO GMP

According to investorgain.com and media reports, TruAlt Bioenergy' unlisted shares are trading at ₹576 per share, reflecting a grey market premium (GMP) of 16.13% over the upper price band of ₹496.

Disclaimer: Grey Market Premium (GMP) is an unofficial indicator of market sentiment toward an IPO. It is not regulated by the stock exchanges or SEBI. Upstox does not endorse or facilitate trading in the grey market. Investors are advised to conduct their own research or consult an expert before making any investment decisions.
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About The Author

Kamal Joshi
Kamal Joshi is a business journalist who covers industries, markets, and IPOs. He is passionate about breaking news and enjoys playing tennis, especially flexing his backhand. He was previously associated with Republic TV and LatestLY.

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