Trualt Bioenergy IPO Price: ₹472 to ₹496 per share
IPO Dates: 25th September 2025 – 29th September 2025
Company Overview
Incorporated in 2021, Trualt Bioenergy Limited is engaged in the production of biofuels, with a strong focus on the ethanol sector. The company has rapidly grown to become one of the largest ethanol producers in India, with an installed capacity of 2,000 kilo litres per day (KLPD). As of Fiscal 2025, it holds a 3.6% market share in the country’s ethanol production capacity.
Business Operations
Trualt Bioenergy operates across two key verticals — ethanol production and compressed biogas (CBG) production. As of March 31, 2025, its subsidiary, Leafinity, manages one CBG production plant with a capacity of 10.20 tonnes per day (TPD). To further expand in this segment, the company has entered into MoUs with a Japanese gas company and Sumitomo Corporation Asia & Oceania Pte. Ltd.
The company currently operates five distillery units in Karnataka, of which four are based on molasses and syrup feedstocks. Looking ahead, Trualt Bioenergy plans to diversify into new verticals, including second-generation ethanol, sustainable aviation fuel, and Mevalonolactone (MVL) and allied biochemicals.
Competitive Strengths
- Largest Installed Ethanol Capacity: Leading producer with one of the highest installed capacities in India.
- Integrated Operations: Resource management strategies enable scalability and operational efficiency.
- Strategic Infrastructure: Well-located production facilities with an emphasis on technology and sustainability.
- Industry Advantage: Positioned to leverage favorable government policies and rising demand for biofuels.
- Customer Relationships: Long-term partnerships supported by a strong demand pipeline.
- Experienced Leadership: Guided by skilled promoters and a professional management team.
Bidding Starts In
Trualt Bioenergy IPO Specifics:
| IPO Date | September 25, 2025 to September 29, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹472 to ₹496 per share |
| Lot Size | 30 Shares |
| Total Issue Size | 1,69,20,967 shares (aggregating up to ₹839.28 Cr) |
| Fresh Issue | 1,51,20,967 shares (aggregating up to ₹750.00 Cr) |
| Offer For Sale | 18,00,000 shares (aggregating up to ₹89.28 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 7,06,31,624 shares |
| Share Holding Post Issue | 8,57,52,591 shares |
Trualt Bioenergy IPO Timetable (Important Dates)
| IPO Open Date | Thursday, September 25 2025 |
| IPO Close Date | Monday, September 29 2025 |
| Tentative Allotment | Tuesday, September 30 2025 |
| Initiation of Refunds | Wednesday, October 1 2025 |
| Credit of Shares to Demat | Wednesday, October 1 2025 |
| Listing Date | Friday, October 3 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 26, 2025 |
Trualt Bioenergy IPO Lot Size
Bidders have the opportunity to bid for a minimum of 30 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 30 | ₹14,880 |
| Retail (Max) | 13 | 390 | ₹1,93,440 |
| S-HNI (Min) | 14 | 420 | ₹2,08,320 |
| S-HNI (Max) | 67 | 2010 | ₹9,96,960 |
| B-HNI (Min) | 68 | 2040 | ₹10,11,840 |
Trualt Bioenergy IPO Reservation
| QIB Shares Offered | Not more than 50% of the Net offer |
| Retail Shares Offered | Not less than 35% of the Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Offer |
Trualt Bioenergy Limited IPO Financial Information
| Period Ended | 31 Mar 2024 | 31 Mar 2025 |
|---|---|---|
| Assets | 2419.08 | 3029.73 |
| Total Income | 1280.19 | 1968.53 |
| Profit After Tax | 31.81 | 146.64 |
| EBITDA | 188.09 | 309.14 |
| Net Worth | 264.61 | 769 |
| Total Borrowing | 1684.68 | 1549.68 |
Key Performance Indicator – Trualt Bioenergy IPO
| KPI | Values |
|---|---|
| Market Cap | ₹4253.33Cr |
| EPS | ₹20.76 |
| P/E (x) | 23.86 |
| ROE | 28.27% |
| ROCE | 10.88% |
| Debt/Equity | 2.02 |
| RoNW | 19.07% |
| PAT Margin | 7.69% |
Objects of the Issue:
TruAlt Bioenergy Limited proposes to utilize the net proceeds from its Initial Public Offering (IPO) for the following purposes:
- Funding Capital Expenditure: ₹150.68 crore will be allocated towards setting up multi-feedstock operations at TBL Unit 4 (300 KLPD capacity), enabling the use of grains as an additional raw material in the ethanol plant.
- Working Capital Requirements: ₹425 crore will be utilized to meet the company’s working capital needs, supporting day-to-day operations and business growth.
- General Corporate Purposes: The balance funds will be deployed towards general corporate activities, including administrative expenses, business development, and other strategic initiatives.
Prospectus Links:
Prospectus: Official documents that provide detailed information about the IPO and the company.
