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Trualt Bioenergy Ltd. IPO is a book build issue of ₹839.28 crores. The issue is a combination of fresh issue of 1.51 crore shares aggregating to ₹750.00 crores and offer for sale of 0.18 crore shares aggregating to ₹89.28 crores.
Trualt Bioenergy IPO bidding started from Sep 25, 2025 and ended on Sep 29, 2025. The allotment for Trualt Bioenergy IPO was finalized on Sep 30, 2025. The shares got listed on BSE, NSE on Oct 3, 2025.
Trualt Bioenergy IPO price band is set at ₹496.00 per share . The lot size for an application is 30. The minimum amount of investment required by an retail is ₹14,880 (30 shares) (based on upper price). The lot size investment for sNII is 14 lots (420 shares), amounting to ₹2,08,320, and for bNII, it is 68 lots (2,040 shares), amounting to ₹10,11,840.
Dam Capital Advisors Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue.
Refer to Trualt Bioenergy IPO RHP for detailed Information.
| IPO Date | September 25, 2025 to September 29, 2025 |
| Listing Date | October 3, 2025 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹472 to ₹496 per share |
| Issue Price Final | ₹496 per share |
| Lot Size | 30 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,69,20,967 shares (aggregating up to ₹839.28 Cr) |
| Fresh Issue | 1,51,20,967 shares (aggregating up to ₹750.00 Cr) |
| Offer for Sale | 18,00,000 shares of ₹10 (aggregating up to ₹89.28 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 7,06,31,624 shares |
| Share Holding Post Issue | 8,57,52,591 shares |
Trualt Bioenergy IPO offers total 1,69,20,967 shares. Out of which 84,60,482 (50.00%) allocated to QIB, 33,84,193 (20.00%) allocated to QIB (Ex- Anchor), 25,38,146 (15.00%) allocated to NII 59,22,339 (35.00%) allocated to RII and 50,76,289 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 84,60,482 (50.00%) | NA |
| − Anchor Investor Shares Offered | 50,76,289 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 33,84,193 (20.00%) | NA |
| NII (HNI) Shares Offered | 25,38,146 (15.00%) | NA |
| − bNII > ₹10L | 16,92,098 (10.00%) | 4,028 |
| − sNII < ₹10L | 8,46,048 (5.00%) | 2,014 |
| Retail Shares Offered | 59,22,339 (35.00%) | 1,97,411 |
| Total Shares Offered | 1,69,20,967 (100.00%) |
Trualt Bioenergy IPO raises ₹251.78 crore from anchor investors. Trualt Bioenergy IPO Anchor bid date is September 24, 2025. Trualt Bioenergy IPO Anchor Investors list
| Bid Date | September 24, 2025 |
| Shares Offered | 50,76,289 |
| Anchor Portion Size (In Cr.) | 251.78 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 29, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 28, 2025 |
Trualt Bioenergy IPO opens on September 25, 2025, and closes on September 29, 2025.
| IPO Open Date | Thu, Sep 25, 2025 |
| IPO Close Date | Mon, Sep 29, 2025 |
| Tentative Allotment | Tue, Sep 30, 2025 |
| Initiation of Refunds | Wed, Oct 1, 2025 |
| Credit of Shares to Demat | Wed, Oct 1, 2025 |
| Tentative Listing Date | Fri, Oct 3, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Sep 29, 2025 |
Investors can bid for a minimum of 30 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 30 | ₹14,880 |
| Retail (Max) | 13 | 390 | ₹1,93,440 |
| S-HNI (Min) | 14 | 420 | ₹2,08,320 |
| S-HNI (Max) | 67 | 2,010 | ₹9,96,960 |
| B-HNI (Min) | 68 | 2,040 | ₹10,11,840 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Trualt Bioenergy Limited, incorporated in 2021, is engaged in the production of biofuels, with a primary focus on the ethanol sector. It is one of the largest Ethanol producer in India based on installed capacity of 2,000 kilo litres per day (KLPD). In Fiscal 2025, it has a 3.6% market share in ethanol production capacity.
The company's business operations spans across ethanol production and compressed biogas (CBG) production. As on Mar 31, 2025, its subsidiary, Leafinity operates one CBG production plan with a capacity of 10.20 TPD (Tonnes per day). To further expand its CBG capacity, it has entered into Memorandum of understandings (MoUs) with a Japanese Gas company and Sumitomo Corporation Asia & Oceania Pte. Ltd.
As on the date of RHP, the company has five distillery units in Karnataka, four are operated on molasses and syrup-based feedstocks.
The company also proposed to enter into other verticals, including second-generation ethanol, sustainable aviation fuel, and Mevalonolactone (“MVL”) and Allied Biochemicals.
Competitive Strengths
TruAlt Bioenergy Ltd.'s revenue increased by 54% and profit after tax (PAT) rose by 361% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 |
| Assets | 3,029.73 | 2,419.08 |
| Total Income | 1,968.53 | 1,280.19 |
| Profit After Tax | 146.64 | 31.81 |
| EBITDA | 309.14 | 188.09 |
| NET Worth | 769.00 | 264.61 |
| Total Borrowing | 1,549.68 | 1,684.68 |
| Amount in ₹ Crore | ||
KPI as of Mon, Mar 31, 2025.
| KPI | Values |
|---|---|
| ROE | 28.27% |
| ROCE | 10.88% |
| Debt/Equity | 2.02 |
| RoNW | 19.07% |
| PAT Margin | 7.69% |
| EBITDA Margin | 16.20% |
| Price to Book Value | 4.56 |
| Market Capitalization | 4253.33 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 20.76 | 17.10 |
| P/E (x) | 23.89 | 29.01 |
The Company Trualt Bioenergy IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Funding capital expenditure towards setting- up multi-feed stock operations to pave- way for utilizing grains as an additional raw material in ethanol plant at TBL Unit 4 of 300 KLPD capacity. | 150.68 |
| 2 | Funding the working capital requirements. | 425.00 |
| 3 | General corporate purposes | 81.36 |
[Dilip Davda] TBL is engaged in biofuel industry with diversified products, particularly in Ethanol sector. It has up the sleeve various expansion cum diversification plans that holds the key. Amidst all these initiatives, it posted bumper results for FY25, but marked de-growth for FY24. Based on its recent financial data, the issue appears aggressively priced, discounting all near term positives. Well-informed investors may park funds for medium to long term. Read detail review...
| Listing Date | October 3, 2025 |
| BSE Script Code | 544545 |
| NSE Symbol | TRUALT |
| ISIN | INE0MWH01014 |
| Final Issue Price | ₹496 per share |
| NSE Listing Group | EQ (Rolling) |
| BSE Listing Group | B (Rolling) |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹496.00 | ₹496.00 |
| Open | ₹550.00 | ₹545.40 |
| Low | ₹512.55 | ₹512.80 |
| High | ₹550.00 | ₹549.00 |
| Last Trade | ₹530.85 | ₹530.95 |
Trualt Bioenergy Ltd.
Survey No. 166, Kulali Cross,
Jamkhandi Mudhol Road, Bagalkot,
587313, Karnataka, India
Bagalkot, Karnataka, 587313
Phone: 080 2325 5000
Email: cs@trualtbioenergy.com
Website: https://www.trualtbioenergy.com/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Trualt Bioenergy IPO is a main-board IPO of 1,69,20,967 equity shares of the face value of ₹10 aggregating up to ₹839.28 Crores. The issue is priced at ₹496 per share. The minimum order quantity is 30.
The IPO opens on September 25, 2025, and closes on September 29, 2025.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Trualt Bioenergy IPO using UPI as a payment gateway. Zerodha customers can apply in Trualt Bioenergy IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Trualt Bioenergy IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Trualt Bioenergy IPO opens on September 25, 2025 and closes on September 29, 2025.
Trualt Bioenergy IPO lot size is 30, and the minimum amount required for application is ₹14,880.
You can apply in Trualt Bioenergy IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Trualt Bioenergy IPO will be done on Tuesday, September 30, 2025, and the allotted shares will be credited to your demat account by Wednesday, October 1, 2025. Check the Trualt Bioenergy IPO allotment status.
The Trualt Bioenergy IPO listing date is on Friday, October 3, 2025.
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