TruAlt Bioenergy's Rs 839 Crore IPO Set to Open on Sept. 25
TruAlt Bioenergy Ltd., a biofuel producer, is launching its IPO from September 25 to 29, aiming to raise Rs 839.28 crore. The price band is set at Rs 472-496 per share, with a minimum investment of Rs 14,880 for retail investors. The IPO comprises a fresh issue of Rs 750 crore and an offer for sale of Rs 89.28 crore. The grey market premium suggests a potential 13.10% gain on listing. The company's financials show significant growth, with total income rising from Rs 1,280.19 crore in FY 2022 to Rs 1,968.53 crore in FY 2023. Funds will be used for capital expenditure, working capital, and general corporate purposes.
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TruAlt Bioenergy Ltd., a company focused on biofuel production, particularly ethanol, is gearing up for its Initial Public Offering (IPO) set to open on September 25. The company aims to raise Rs 839.28 crore through this public issue, which comprises a fresh issue of Rs 750.00 crore and an offer for sale of Rs 89.28 crore.
IPO Details
- Price Band: Rs 472.00 - Rs 496.00 per share
- Minimum Investment: Rs 14,880.00 for retail investors
- IPO Opening: September 25, 2023
- IPO Closing: September 29, 2023
- Tentative Listing Date: October 3, 2023
Grey Market Premium
The grey market is showing a premium of Rs 65.00 per share, indicating an estimated listing price of Rs 561.00. This suggests potential gains of 13.10% per share for investors.
Company Overview
Founded in 2021, TruAlt Bioenergy Ltd. specializes in biofuel production with a focus on ethanol. The company has shown significant growth in its financial performance over the past year.
Financial Highlights
| Particulars | FY 2023 | FY 2022 |
|---|---|---|
| Total Income | Rs 1,968.53 crore | Rs 1,280.19 crore |
| Profit After Tax | Rs 146.64 crore | Rs 31.81 crore |
The company's financial results demonstrate substantial growth compared to the previous fiscal year.
Utilization of IPO Proceeds
TruAlt Bioenergy plans to use the funds raised from the IPO for the following purposes:
- Capital Expenditure: Rs 150.00 crore
- Working Capital: Rs 425.00 crore
- General Corporate Purposes: Remaining amount
Investors interested in the renewable energy sector and biofuel production may find this IPO an opportunity to consider. However, as with all investments, it is advisable to thoroughly research and consult financial experts before making any investment decisions.
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