Biofuel producer TruAlt Bioenergy’s Rs.839-Cr IPO fully subscribed
Economic Times TruAlt Bioenergy
The INR 839.28 crore initial public offering (IPO) of Bengaluru-based biofuel producer TruAlt Bioenergy has been fully subscribed. Priced between INR 472 and INR 496 per share, the IPO comprises a fresh issue worth INR 750 crore and an offer for sale of INR 89.28 crore.Non-Institutional Investors bid for 4.20 times their quota while retail investors’ segment saw a subscription of 1.33 times. Qualified Institutional Buyers’ (QIBs) segment saw a subscription rate of 87%.Out of the proceeds, INR 150.7 crore will be used for setting up multi-feedstock operations at TruAlt’s 300 KLPD ethanol plant in Karnataka. About INR 425 crore is allocated to meet working capital requirements.Founded in 2021, TruAlt Bioenergy produces ethanol, with an installed capacity of 2,000 kilo litres per day (KLPD. The company runs five distillery units across Karnataka, with four facilities using molasses and syrup-based feedstocks. Beyond ethanol production, TruAlt has diversified into compressed biogas (CBG) via its subsidiary Leafinity.For FY25, it recorded a revenue of INR 1,968.53 crore, a PAT of INR 146.64 crore and EBITDA of INR 309.14 crore.
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