TruAlt Bioenergy Limited made a robust debut on the stock exchanges on October 3, 2025. The shares opened at ₹545.40 on the NSE, representing a 10% premium over the issue price of ₹496, while the BSE listing started at ₹550, up 11% from the issue price. This performance reflects strong investor interest following one of the most closely watched IPOs in the renewable energy sector this year.
IPO Subscription and Investor Response
The IPO of TruAlt Bioenergy was open for subscription from September 25 to September 29, 2025. Shares were priced in the range of ₹472–496, with a face value of ₹10 per share and a minimum bid of 30 shares. The IPO received overwhelming demand, closing with an overall subscription of 71.92 times. Institutional investors, particularly Qualified Institutional Buyers (QIBs), led the demand, highlighting strong confidence in the company’s growth potential.
Offer Structure and Use of Proceeds
The offering comprised a fresh issue of shares worth ₹750 crore and an offer-for-sale (OFS) of 18 lakh shares, amounting to ₹89.28 crore, provided by the promoters. Proceeds from the fresh issue will be used to establish multi-feedstock operations, repay existing debt, and support general corporate purposes, reinforcing the company’s capacity for expansion and operational stability.
Management and Oversight
DAM Capital Advisors and SBI Capital Markets managed the IPO, serving as the book-running lead managers and ensuring a seamless offering process.
Company Profile and Growth Strategy
Headquartered in Bengaluru, TruAlt Bioenergy is a leading producer of biofuels, primarily focusing on ethanol production. The company is expanding into second-generation (2G) ethanol, leveraging surplus bagasse—a byproduct from sugar manufacturing—as raw material. TruAlt Bioenergy is also working to diversify its production with grain-based ethanol to mitigate seasonal fluctuations in raw material supply and stabilise its operations.
Conclusion
The strong debut of TruAlt Bioenergy on the NSE and BSE underscores significant investor confidence in the company’s strategy and growth prospects. With the IPO being oversubscribed over 70 times and listing at a healthy premium, TruAlt Bioenergy is well-positioned to scale its biofuels operations and enhance its presence in the renewable energy sector.
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