TruAlt Bioenergy Launches Rs 839 Crore IPO, Aims to Boost Biofuel Production
TruAlt Bioenergy Ltd., a Bangalore-based biofuels producer, is launching its IPO on September 25 to raise up to Rs 839 crore. The company, holding a 3.6% market share in ethanol production, has set a price band of Rs 472-496 per share. The IPO includes a fresh equity issue of Rs 750 crore and an offer for sale by promoters of Rs 89 crore. The offering will run until September 29, with listing scheduled for October 3 on BSE and NSE. TruAlt Bioenergy reported revenue of Rs 1,908 crore and profit of Rs 146.60 crore. The company plans to use the funds for multi-feed stock operations, working capital requirements, and general corporate purposes.
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TruAlt Bioenergy Ltd., a Bangalore-based biofuels producer, is set to launch its initial public offering (IPO) on September 25, aiming to raise up to Rs 839 crore. The company, which holds a 3.6% market share in the ethanol production sector, has priced its shares between Rs 472 and Rs 496.
IPO Details
| Aspect | Details |
|---|---|
| Offering Size | Rs 839.00 crore |
| - Fresh equity issue | Rs 750.00 crore |
| - Offer for sale by promoters | Rs 89.00 crore |
| Price Band | Rs 472 - Rs 496 per share |
| Minimum Application | 30 shares (Rs 14,880 investment) |
| IPO Period | September 25 - September 29 |
| Listing Date | October 3 on BSE and NSE |
Company Overview
TruAlt Bioenergy has established itself as a significant player in the biofuels sector with:
- Installed ethanol production capacity: 2,000 KLPD
- Operational capacity: 1,800 KLPD
- Market share: 3.6%
Financial Performance
TruAlt Bioenergy reported:
- Revenue: Rs 1,908.00 crore
- Profit: Rs 146.60 crore
Utilization of Funds
The company plans to allocate the IPO proceeds as follows:
- Rs 150.68 crore for multi-feed stock operations at Unit 4
- Rs 425.00 crore for working capital requirements
- Remaining funds for general corporate purposes
Promoter Participation
The offer for sale component of the IPO includes shares from promoters:
- Dhraksayani Sangamesh Nirani
- Sangamesh Rudrappa Nirani
This IPO presents an opportunity for investors to participate in India's growing biofuels sector. TruAlt Bioenergy's focus on ethanol production aligns with the country's push for cleaner energy alternatives and reduced dependence on fossil fuels.
Investors interested in the IPO should conduct thorough research and consider their financial goals before making an investment decision. As with any investment, it's advisable to consult with a financial advisor to understand the risks and potential returns associated with this offering.
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