Bengaluru-based biofuels leader, TruAlt Bioenergy Ltd, announced on Monday (September 22, 2025) the eagerly awaited price band for its ₹839-crore Initial Public Offering (IPO). Shares are set to be offered at ₹472 to ₹496 each.
Mark your calendars! The company’s very first public share sale will kick off on September 25th and run through September 29th, as detailed in a recent public statement.
This substantial IPO is structured as a fresh issuance of shares amounting to ₹750 crore, complemented by an Offer-for-Sale (OFS) of 1.8 million shares from its promoters. At the higher end of the price band, the OFS is valued at ₹89.28 crore, bringing the total issue size to an impressive ₹839.38 crore.
The capital generated from this fresh issuance is strategically designated for several key initiatives: establishing diverse multi-feedstock operations, diligently repaying existing debt, and supporting general corporate objectives.
As one of India’s foremost producers of biofuels, TruAlt Bioenergy has primarily focused on ethanol production. The company is now actively expanding into cutting-edge areas, including second-generation (2G) ethanol, which cleverly utilizes surplus bagasse—a natural byproduct of sugar manufacturing—as a sustainable raw material.
Historically, TruAlt’s operational efficiency has been significantly influenced by the fluctuating prices and availability of raw materials like sugar syrup and molasses. To mitigate this dependence on seasonal resources, the company is making a pivotal strategic shift towards grain-based ethanol production.
This forward-thinking move is anticipated to provide greater control over material costs, boost revenue streams, and ensure a more stable and consistent output of ethanol, reinforcing their commitment to a greener future.
The IPO’s share allocation is thoughtfully divided: 50% is reserved for Qualified Institutional Buyers (QIBs), 35% for retail investors, and the remaining 15% for non-institutional investors. Prospective applicants can subscribe for a minimum lot size of 30 shares, with further applications available in multiples thereof.
Guiding this significant public offering are the esteemed book-running lead managers, DAM Capital Advisors and SBI Capital Markets.