TruAlt Bioenergy Launches Rs 839 Crore IPO, Sets Price Band at Rs 472-496
TruAlt Bioenergy Ltd., a Bengaluru-based biofuels producer, is launching its IPO from September 25 to 29, 2023, with a price band of Rs 472-496 per share. The company aims to raise Rs 839.28 crore through fresh equity and an offer for sale. The IPO includes a fresh issue of Rs 750 crore and an offer for sale of Rs 89.28 crore by promoters. TruAlt Bioenergy has an ethanol production capacity of 1,800 KLPD and a 3.6% market share. The company's revenue increased from Rs 1,280 crore in FY24 to Rs 1,907 crore in FY25, with profits rising from Rs 31.80 crore to Rs 146.63 crore. Funds will be used for capital expenditure, working capital, and general corporate purposes. The shares will be listed on BSE and NSE on October 3, 2023.
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TruAlt Bioenergy Ltd., a Bengaluru-based biofuels producer, is set to launch its Initial Public Offering (IPO) on September 25, 2023. The company aims to raise Rs 839.28 crore through this public issue, which includes both fresh equity and an offer for sale by promoters.
IPO Details
- Opening Date: September 25, 2023
- Closing Date: September 29, 2023
- Price Band: Rs 472 - Rs 496 per share
- Minimum Investment: Rs 14,880 for retail investors (30 shares)
- Listing Date: October 3, 2023 (on BSE and NSE)
Offer Structure
The IPO comprises:
- Fresh equity issue of Rs 750.00 crore
- Offer for sale of Rs 89.28 crore by promoters:
- Dhraksayani Sangamesh Nirani
- Sangamesh Rudrappa Nirani
Company Overview
TruAlt Bioenergy is a significant player in the biofuels sector:
- Operational ethanol production capacity of 1,800 KLPD
- 3.6% market share in the industry
Financial Performance
| Fiscal Year | Revenue (Rs Crore) | Profit (Rs Crore) |
|---|---|---|
| FY23 | 1,907.00 | 146.63 |
| FY22 | 1,280.00 | 31.80 |
The company has shown substantial growth in both revenue and profit between FY22 and FY23.
Use of Proceeds
The funds raised through the IPO will be utilized for:
- Capital expenditure for multi-feed stock operations
- Working capital requirements
- General corporate purposes
Investors interested in the renewable energy sector and looking for exposure to the growing biofuels market in India may find this IPO noteworthy. As always, it is advisable for potential investors to carefully review the company's prospectus and consult with financial advisors before making investment decisions.
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