Key IPO Details
| Particulars |
Details |
| IPO Open Date |
September 25, 2025 |
| IPO Close Date |
September 29, 2025 |
| Listing Date |
October 3, 2025 |
| Face Value |
₹10 per equity share |
| Price Band |
₹472 to ₹496 per share |
| Issue Size |
Approx. ₹839.28 Crores |
| Fresh Issue |
Approx. ₹750 Crores |
| Offer for Sale |
Approx. 18,00,000 Equity Shares |
| Issue Type |
Book Built Issue |
| IPO Listing |
BSE, NSE |
| Retail Quota |
35% |
| QIB Quota |
50% |
| NII (HNI) Quota |
15% |
Market Lot Information
| Category |
Lot Size |
Shares |
Amount (₹) |
| Retail Minimum |
1 |
30 |
14,880 |
| Retail Maximum |
13 |
390 |
1,93,440 |
| S-HNI Minimum |
14 |
420 |
2,08,320 |
| S-HNI Maximum |
67 |
2,010 |
9,96,960 |
| B-HNI Minimum |
68 |
2,040 |
10,11,840 |
Important IPO Dates
| Event |
Date |
| IPO Opening |
September 25, 2025 |
| IPO Closing |
September 29, 2025 |
| Basis of Allotment |
September 30, 2025 |
| Refund Initiation |
October 1, 2025 |
| Demat Credit |
October 1, 2025 |
| Listing Date |
October 3, 2025 |
Promoters
- Vijaykumar Murugesh Nirani
- Vishal Nirani
- Sushmitha Vijaykumar Nirani
About the Company
TruAlt Bioenergy is a leading biofuel producer with a strong focus on ethanol production, along with Extra Neutral Alcohol (ENA), dry ice, and liquid CO2. The company is expanding ethanol capacity by 600 KLPD at three sites and uses by-products efficiently. They have invested over ₹142 crore in capacity expansion and secured central government loans under the Ethanol Interest Subvention Scheme.
Financial Performance
| Period Ended |
Revenue (₹ Cr) |
Expense (₹ Cr) |
PAT (₹ Cr) |
Assets (₹ Cr) |
| 2024 |
1,223.40 |
1,235.31 |
31.81 |
2,419.08 |
| 2025 |
1,968.53 |
1,809.09 |
146.64 |
3,029.73 |
Key Financial Ratios (FY2025)
| KPI |
Value |
| ROE |
28.27% |
| ROCE |
10.88% |
| EBITDA Margin |
16.20% |
| PAT Margin |
7.69% |
| Debt to Equity Ratio |
2.02 |
| EPS (Basic) |
₹16.44 |
| P/E Ratio |
N/A |
| RoNW |
19.07% |
| Net Asset Value (NAV) |
₹108.87 |
Peer Group Comparison
| Company |
EPS |
PE Ratio |
RoNW (%) |
NAV |
Income |
| Balrampur Chini Mills Ltd |
21.65 |
23.89 |
11.51% |
187.99 |
5,415.38 Cr. |
| Triveni Engineering & Industries Ltd |
10.88 |
33.07 |
7.66% |
144.34 |
6,807.94 Cr. |
| Dalmia Bharat Sugar & Industries Ltd |
47.78 |
7.75 |
11.96% |
399.62 |
3,745.78 Cr. |
Purpose of the IPO
- Capex for multi-feed stock ethanol plant expansion
- Working capital requirements
- General Corporate Purpose
Registrar & Contact Details
Registrar:
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Lead Managers:
Dam Capital Advisors Ltd.
SBI Capital Markets Ltd.
Company Address:
TruAlt Bioenergy Ltd.
Survey No. 166, Kulali Cross, Jamkhandi Mudhol Road, Bagalkot, Karnataka, 587313
Phone: 080 2325 5000
Email: cs@trualtbioenergy.com
Website: https://www.trualtbioenergy.com/
Reviews
The company has shown strong growth in revenue and profitability. Investors may consider for long-term investment, but are advised to research further and consult financial advisors before investing.
