TruAlt Bioenergy Ltd. is poised for a strong market debut as its shares are scheduled to list on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) today. The company's Initial Public Offering (IPO) has generated significant buzz in the investment community, with grey market trends suggesting a potential 18% premium on listing.

IPO Performance

The Rs 839-crore IPO of TruAlt Bioenergy witnessed overwhelming investor interest, resulting in an impressive oversubscription of 65.01 times. The offer received bids for 88.86 crore shares against the 1.24 crore shares available, highlighting the strong demand from investors.

Grey Market Premium

The grey market, often considered an indicator of listing day performance, is showing a premium of Rs 90 for TruAlt Bioenergy shares. This suggests an estimated listing price of Rs 586.00, compared to the upper price band of Rs 496.00 set during the IPO. If this holds true, investors could potentially see gains of approximately 18.15% on the first day of trading.

IPO Structure and Fund Allocation

The IPO comprised two components:

1. A fresh issue of shares worth Rs 750.00 crore
2. An offer-for-sale amounting to Rs 89.28 crore

The company has outlined its plans for utilizing the proceeds from the fresh issue:

• Rs 150.00 crore allocated for capital expenditure
• Rs 425.00 crore earmarked for working capital requirements
• The remaining funds to be used for general corporate purposes

Investor Participation

The success of the IPO was largely driven by strong participation from non-institutional buyers, indicating confidence in the company's prospects among a diverse range of investors.

As TruAlt Bioenergy prepares for its market debut, all eyes will be on its performance in the early hours of trading. The substantial oversubscription and positive grey market premium suggest a favorable reception from the investment community, setting the stage for what could be a noteworthy listing day for the company.

TruAlt Bioenergy, a prominent player in the ethanol production sector, has concluded its Initial Public Offering (IPO) with remarkable success, witnessing an overwhelming response from investors. The company has announced the basis of share allotment for its ₹839-crore IPO, which saw an impressive 72 times oversubscription.

IPO Structure and Demand

The IPO comprised a fresh equity issue of ₹750 crore and an offer for sale worth ₹89 crore. The offering garnered bids for a staggering 88.85 crore shares against the 1.23 crore shares on offer, highlighting the strong investor interest in the company.

Segment-wise Subscription Details

The demand for TruAlt Bioenergy's shares was robust across all investor categories:

Company Profile and Fund Utilization

TruAlt Bioenergy holds a 3.6% market share in ethanol production with a substantial capacity of 2,000 KLPD (Kilo Litres Per Day). The company plans to utilize the IPO proceeds for:

• Multi-feed stock operations: ₹150.68 crore
• Working capital requirements: ₹425 crore
• General corporate purposes

Key Dates for Investors

• Refunds Processing: October 1
• Share Credits to Demat Accounts: October 1
• Expected Stock Market Debut: October 6

The remarkable oversubscription and diverse investor participation underscore the market's confidence in TruAlt Bioenergy's business model and growth prospects in the ethanol production sector.

Note: Investors are advised to keep track of their application status and monitor their bank and demat accounts for refunds and share credits, respectively.