TruAlt Bioenergy secures ₹150 crore for SAF project under PM JI-VAN Yojana

TruAlt Bioenergy Limited has secured approval for financial assistance of ₹150 crore under the Government of India's PM JI-VAN Yojana for its proposed commercial-scale Sustainable Aviation Fuel (SAF) project at Bagalkot, Karnataka. The approval, granted by the Centre for High Technology (CHT) under the Ministry of Petroleum & Natural Gas, is expected to incentivise approximately 7–10% of the project's capital expenditure, thereby enhancing its viability. This development marks a significant step in the company's strategic expansion into advanced biofuels and supports the accelerated development of domestic SAF production capacity in India.

The proposed SAF facility will have a planned production capacity of 10 crore litres per annum. It aims to strengthen indigenous production of low-carbon aviation fuels, reduce dependence on imported fossil fuels, and support India's long-term net-zero ambitions. The project aligns with the global aviation sector's decarbonization roadmap under the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) and India's announced SAF blending targets of 1% by 2027, 2% by 2028, and 5% by 2030.

Project Details and Strategic Alignment

The PM JI-VAN Yojana is a flagship initiative designed to accelerate the commercialization of advanced biofuels through targeted financial support. The scheme promotes technological innovation, the utilization of renewable feedstocks and agricultural residue, and the development of indigenous low-carbon fuel technologies. By securing this assistance, TruAlt Bioenergy is positioned to contribute to India's objectives of energy security, rural prosperity, environmental sustainability, and climate resilience.

Metric	Details
Financial Assistance	₹150 crore
Incentive Share of Capex	7–10%
Production Capacity	10 crore litres per annum
Location	Bagalkot, Karnataka
Approving Authority	Centre for High Technology (CHT)

Management Commentary

Mr. Vijay Nirani, Managing Director of TruAlt Bioenergy Limited, emphasized the strategic importance of the milestone. He stated that as the world accelerates towards decarbonizing aviation, SAF will become an indispensable pillar of the future energy landscape. He expressed gratitude to the Government of India for its support in fostering innovation and enabling the commercialization of next-generation biofuels, noting the opportunity to position India as a global hub for sustainable fuels.

The financial assistance will be released in accordance with project milestones and the terms of the Memorandum of Agreement to be executed with the Centre for High Technology. TruAlt Bioenergy is currently India's largest ethanol producer with an installed ethanol production capacity of 2,000 KLPD and continues to expand its portfolio across ethanol, compressed biogas (CBG), sustainable aviation fuel, and other future fuels.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.53%	-4.16%	+8.15%	+19.17%	-7.90%	-7.90%

Trualt Bioenergy Limited has initiated a postal ballot process to seek shareholder approval for material related party transactions with Nirani Sugars Limited for the financial year 2026-27. The proposed transactions, which include the purchase of raw materials and sale of goods, have an aggregate value of up to Rs 2,500 Crores. The company stated that these transactions are essential for ensuring an uninterrupted supply of critical feedstock such as bagasse, syrup, and molasses required for its ethanol and bioenergy operations.

The company’s annual consolidated turnover for the financial year 2025-26 was Rs 1,727.51 Crores. As the proposed transaction value exceeds 10% of this turnover, shareholder approval is mandated under Regulation 23 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Audit Committee and Board of Directors have reviewed the commercial rationale and recommended the approval, noting that the transactions will be conducted at arm’s length and in the ordinary course of business.

Postal Ballot and E-voting Schedule

The company has engaged National Securities Depository Limited (NSDL) to facilitate the remote e-voting process. Only shareholders whose names appear in the register of members or beneficial owners as on the cut-off date of Friday, June 5, 2026, are entitled to vote. The notice has been dispatched electronically to members, and physical ballot forms will not be accepted.

Particulars	Details
E-voting starts on	09:00 am (IST) on Wednesday, June 10, 2026
E-voting ends on	05:00 pm (IST) on Thursday, July 09, 2026
Results declaration	On or before Saturday, July 11, 2026

Transaction Details

The resolution seeks approval to continue existing contracts and enter into new arrangements with Nirani Sugars Limited, a related party. The transactions cover the purchase of raw materials up to Rs 2,000 Crores and the sale of goods up to Rs 500 Crores. The tenure of these transactions is one year.

Particulars	FY 2025-26 (Amount in Lakhs)
Purchase of raw materials	87,317.92
Sales of by-products	10,195.11
Rental Expenses	37.23

Mr. Deepak Sadhu, a Practicing Company Secretary, has been appointed as the Scrutinizer to ensure the voting process is conducted fairly. The results will be announced on or before July 11, 2026, and displayed on the company’s website and the stock exchanges.