- By Shreyansh Mangla
- Thu, 25 Sep 2025 05:14 PM (IST)
- Source:JND
TruAlt Bioenergy IPO: The Initial Public Offering (IPO) of TruAlt Bioenergy opened for subscription today, September 25. The last day for subscription is September 29, with the price band set between Rs 472 and Rs 496 per share.
According to investorgain.com, the TruAlt Bioenergy share price is trading at an unofficial rate of Rs 80 in the grey market as of Thursday. The estimated cost per share of TruAlt Bioenergy is indicated at Rs 576, which is 16.13 per cent higher than the IPO price of Rs 496.
A day prior to the IPO launch, TruAlt Bioenergy secured Rs 252 crore from a major group of investors, including big names such as Tata Mutual Fund and HDFC Mutual Fund. The company sold about 5 million shares to these 19 funds at a price of Rs 496 each. This is a common practice that helps build confidence in the IPO before it's open to everyone.
The circular for its IPO launch had been published on the BSE official website - with Bandhan Mutual Fund, SBI General Insurance Company, Societe Generale, and Citigroup Global Markets Mauritius, already mentioned in the list as major anchor investors.
The biofuel producer had issued 50 lakh equity shares to 19 different funds at a price of Rs 496 per share, as mentioned above.
The company plans to use the funds it gets from share sales to pay off its debts and expand its business further.
TruAlt Bioenergy is a Bengaluru based biofuel manufacturing company which focuses mainly on ethanol production. The company is stepping into different and unique ways of ethanol production called the second generation ethanol (2G), which is produced by using extra bagasse, which is a byproduct of the sugarcane, as its raw material.
TruAlt Bioenergy IPO Details
Trualt Bioenergy IPO is a book building of Rs 839.28 crores. The issue consists of a fresh issue of 1.51 crore shares, totalling Rs 750.00 crores, and an offer for sale (OFS) of 18 lakh shares, priced at Rs 89.28 crores.