The portion reserved for Qualified Institutional Bidders (QIB) has been subscribed 5.3 times the total number of shares reserved for them.
Non-Institutional Investors (NIIs) have the highest subscription figure in the issue so far, with an overall figure of 45.4 times the total shares on offer for them.The retail investor portion has also seen an overall subscription of 5.8 times the shares on offer.
TruAlt Bioenergy is one of India’s largest Biofuels producer, involved mainly in the production of Ethanol. The company had a 3.6% market share in Ethanol production for financial year 2025.The company’s current production capacity for Ethanol stands at 2,000 KLPD, which is the largest in India, and the company intends to convert over 1,300 KLPD of the current mono feed capacity to dual feed.
TruAlt intends to utilise the fresh issue proceeds to set up multi-feed stock operations for utilising grains as an additional raw material in ethanol plant at TBL Unit 4. The company intends to spend ₹150.68 crore for the same.
₹425 crore will be used for working capital requirements and the rest will be for general corporate purposes.
Current rates in the unlisted market are indicating that TruAlt is trading at a premium of ₹109 per share, indicating that the listing is likely to be a positive one for the stock.
Promoter shareholding post the IPO will fall to 70.55% from 88.2% currently.
