Bookbuilding IPO | ₹839 Cr | Listed at BSE, NSE | Thu, Sep 25, 2025 - Mon, Sep 29, 2025
Trualt Bioenergy 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 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 Open
Thu, Sep 25, 2025
IPO Close
Mon, Sep 29, 2025
Issue Price
₹496 per share
Market Cap (Pre-IPO)
₹4,253.33 Cr
| IPO Date | 25 to 29 Sep, 2025 |
| Listed on | Fri, Oct 3, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹472 to ₹496 |
| Issue Price | ₹496 per share |
| Lot Size | 30 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,69,20,967 shares (agg. up to ₹839 Cr) |
| Fresh Issue | 1,51,20,967 shares (agg. up to ₹750 Cr) |
| Offer for Sale | 18,00,000 shares of ₹10 (agg. up to ₹89 Cr) |
| Share Holding Pre Issue | 7,06,31,624 shares |
| Share Holding Post Issue | 8,57,52,591 shares |
| BSE Script Code / NSE Symbol | 544545 / TRUALT |
| ISIN | INE0MWH01014 |
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 | Max 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%) |
Investors can bid for a minimum of 30 shares and in multiples thereof.
| 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 |
Trualt Bioenergy IPO raises ₹251.78 crore from anchor investors. Trualt Bioenergy IPO Anchor bid date is September 24, 2025.
📝 Anchor Investors Letter (PDF)
| Bid Date | Wed, Sep 24, 2025 |
| Shares Offered | 50,76,289 |
| Anchor Portion (₹ Cr.) | 251.78 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Oct 29, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Dec 28, 2025 |
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 | ||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 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 |
| KPI | Mar 31, 2025 |
|---|---|
| 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 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 20.76 | 17.10 |
| P/E (x) | 23.89 | 29.01 |
| Promoter Holding | 88.2% | 70.55% |
| Market Cap | ₹4,253.33 Cr. |
The Trualt Bioenergy IPO is subscribed 75.02 times on September 29, 2025 5:05:28 PM (Day 3). The public issue subscribed 11.50 times in the retail category, 165.16 times in the QIB category, and 103.04 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB (Ex Anchor) | 165.16 | 33,84,195 | 55,89,31,920 |
| NII | 103.04 | 25,38,145 | 26,15,23,200 |
| bNII (bids above ₹10L) | 118.62 | 16,92,097 | 20,07,15,030 |
| sNII (bids below ₹10L) | 71.87 | 8,46,048 | 6,08,08,170 |
| Retail | 11.50 | 59,22,339 | 6,80,79,090 |
| Total | 75.02 | 1,18,44,679 | 88,85,34,210 |
Total Application : 21,98,443
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLM and commissions (including underwriting commission, brokerage and selling commission) | 24.75 |
| 2 | Selling commission payable to SCSBs for Bids directly procured by them and processing fees payable to SCSBs for Bids (other than Bids submitted by UPI Bidders) procured by the members of the Syndicate, the Registered Brokers, RTAs or CDPs and submitted to SCSBs for blocking, Bankers to the Offer, fees payable to the Sponsor Banks for Bids made by RIBs | 2.27 |
| 3 | Fees payable to Registrar to the Offer | 0.54 |
| 4 | Printing and stationery expenses | 1.58 |
| 5 | Advertising and marketing expenses | 8.43 |
| 6 | Listing fees, SEBI fees, BSE and NSE processing fees, bookbuilding software fees, and other regulatory expenses | 7.03 |
| 7 | Fees payable to the other parties to the Offer, including, Statutory Auditors, Independent Chartered Accountant, practicing company secretary, industry expert and legal counsels | 15.31 |
| 8 | Miscellaneous | 44.51 |
| 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 |
Lead Manager Reports
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 Crores. The issue is priced at ₹496 per share. The minimum order quantity is 30.
The IPO opens on Thu, Sep 25, 2025, and closes on Mon, Sep 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 Thu, Sep 25, 2025 and closes on Mon, Sep 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 Wed, Oct 1, 2025. Check the Trualt Bioenergy IPO allotment status.
The Trualt Bioenergy IPO listing date is on Fri, Oct 3, 2025.
