• Price band of Rs 472 – Rs 496 per Equity Share bearing face value of Rs 10 each (“Equity Shares”)
  • Bid/Offer Opening Date – Thursday, September 25, 2025 and Bid/Offer Closing Date – Monday, September 29, 2025.
  • Minimum Bid Lot is 30 Equity Shares and in multiples of 30 Equity Shares thereafter

Mumbai : TruAlt Bioenergy Limited has fixed the price band of ₹ 472/- to ₹496/- per Equity Share of face value ₹ 10/- each for its maiden initial public offer.

The Initial Public Offering (“IPO” or “Issue”) of the Company will open on Thursday, September 25, 2025, for subscription and close on Monday, September 29, 2025.

Investors can bid for a minimum of 30Equity Shares and in multiples of 30Equity Shares thereafter.

Equity shares outstanding as on date 7,06, 31, 624 Equity Shares of Rs 10 each

The IPO is a fresh issue aggregating up to Rs 750 crore and an offer for sale up to 18,00,000 Equity Shares.

The proceeds from the fresh issue to the extent of Rs 150.68 crore will be funding the capital expenditure towards setting- up multi-feed stock operations to pave- way for utilizing grains as an additional raw material in ethanol plant at TBL Unit 4 of 300 kilo litres per day (KLPD) capacity, and Rs 425.00 crore for working capital requirements.

The company is one of India’s largest biofuels producers, having strategically positioned ourselves as itself as a prominent and diversified player in the biofuels industry, particularly in the ethanol sector. The company holds the distinction of being the largest ethanol producer in India based on installed capacity, with an aggregate production capacity of 2000 kilo litres per day (KLPD) and an operational capacity of 1800 KLPD, as of 31 March, 2025. The company’s market share is amongst the largest in terms of ethanol production capacity in Fiscal 2025, at 3.6%. (Source: CRISIL Report).

The company currently operates four ethanol production distilleries on molasses and syrup-based feedstock, with production capacity of 1,800 KLPD as of 31 March 2025.

By March 2026, out of the 2,000 KLPD installed capacity, the company intends to convert 1,300 KLPD of its current mono feed (sugarcane juice / sugar syrup / molasses) capacity to dual-feed, capable of producing ethanol from grain-based feedstock or grains unfit for human consumption. Progressively, the company also intend to increase our operational capacity from 1,800 KLPD as of March 31, 2025 to 2,000 KLPD.

And as part of its ethanol production, the company also produces extra neutral alcohol (“ENA), the primary raw material in the production of alcoholic beverages. Its product portfolio also includes dry ice and liquid carbon dioxide (“CO2“), by-products in the ethanol production process.

The company is also one of the first producers of CBG under the Sustainable Alternative Towards Affordable Transportation (“SATAT“) scheme introduced by the government in 2018. (Source: CRISIL Report). Its subsidiary, Leafiniti, operates one CBG plant with a capacity of 10.20 tonnes per day “TPD) as of March 31, 2025, which also produces solid and liquid fermented organic manure (FOM). To strengthen its CBG capabilities further, the company has entered into a share subscription cum shareholders’ agreement with Gas Authority of India Limited (GAIL), through which its subsidiary, Leafiniti, will commence setting up multiple CBG units across various locations in a phased manner, of which 20 locations have been identified in the subscription-cum- shareholders’ agreement. GAIL is proposing to hold not more than 49% shareholding in Leafiniti.

In order to further explore strategic partnerships to expand its CBG capabilities, the company has entered into a memorandum of understanding with a globally recognized Japanese trading and investment company and a Japanese gas company to establish a joint venture for setting up multiple CBG plants starting from three to five CBG plants in different parts of India.

The company’s revenue from operations was Rs 1,907.72 crore during FY 25 vis-à-vis Rs 1,223.4 crore a year earlier.

Its profit after tax of Rs 146.64 crore during FY 25 vis-à-vis Rs 31.81 crore a year earlier.

DAM Capital Advisors Limited and SBI Capital Markets Limited are the book-running lead managers; and Bigshare Services Private Limited is the registrar of the offer. The Offer is being made through the book-building process, wherein not more than 50% of the offer is allocated to qualified institutional buyers, and not more than 15% and 35% of the offer is assigned to non-institutional bidders and retail individual bidders respectively.