NewsIPOTruAlt Bioenergy IPO Subscription Reaches 0.81x on Day Two, Grey Market Premium at Rs 92TruAlt Bioenergy IPO Subscription Reaches 0.81x on Day Two, Grey Market Premium at Rs 92
TruAlt Bioenergy's IPO has reached 0.81 times subscription on its second day. The company aims to raise Rs 839.28 crore, including a fresh issue of Rs 750 crore and an offer-for-sale of Rs 89.28 crore. The price band is set at Rs 472-496 per share with a lot size of 30 shares. Institutional investors led the subscription at 0.87 times, followed by non-institutional at 0.80 times and retail at 0.79 times. The IPO closes on September 29, with listing expected on October 3 on BSE and NSE. TruAlt Bioenergy, a biofuel producer focusing on ethanol, reported a total income of Rs 1,968.53 crore and profit after tax of Rs 146.64 crore for FY ended March 31. The grey market premium indicates an estimated listing price of Rs 588.
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TruAlt Bioenergy's Initial Public Offering (IPO) has garnered significant attention in its second day of bidding, with the subscription reaching 0.81 times. The biofuel producer aims to raise a total of Rs 839.28 crore through this public offering, which includes a fresh issue of Rs 750.00 crore and an offer-for-sale component of Rs 89.28 crore.
IPO Details
- Price Band: Rs 472.00 - Rs 496.00 per share
- Lot Size: 30 shares
- Subscription Breakdown:
- Institutional Investors: 0.87 times
- Non-Institutional Investors: 0.80 times
- Retail Investors: 0.79 times
- IPO Closing Date: September 29
- Expected Allotment Date: September 30
- Listing Date: October 3 (on BSE and NSE)
Company Overview
TruAlt Bioenergy, founded in 2021, specializes in the production of biofuels with a primary focus on ethanol. For the fiscal year ended March 31, the company reported:
- Total Income: Rs 1,968.53 crore
- Profit After Tax: Rs 146.64 crore
Utilization of IPO Proceeds
The funds raised through the IPO will be allocated as follows:
- Capital Expenditure: Rs 150.00 crore
- Working Capital: Rs 425.00 crore
- General Corporate Purposes: Remaining amount
Grey Market Premium
The grey market is showing a premium of Rs 92.00 for TruAlt Bioenergy shares, indicating an estimated listing price of Rs 588.00. However, it's important to note that grey market premiums are unofficial and subject to change.
| Particulars | Amount (in Rs) |
|---|---|
| IPO Price (Upper Band) | 496.00 |
| Grey Market Premium | 92.00 |
| Estimated Listing Price | 588.00 |
Investors should exercise caution and conduct thorough research before making investment decisions. The IPO's performance in the coming days and the overall market conditions will play crucial roles in determining the final outcome of this public offering.
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