IPO size and details
The IPO comprises a fresh issue of shares worth Rs 750 crore and an offer for sale (OFS) of 18 lakh shares, aggregating to Rs 89.28 crore. At the upper end of the price band, the company will command a market cap of Rs 4,253 crore.
Promoters Vijaykumar Murugesh Nirani, Vishal Nirani and Sushmitha Vijaykumar Nirani will dilute part of their holding through the OFS. Post-issue, promoter stake will reduce from 88.2% to 70.6%.
Retail investors can bid for a minimum of 30 shares, amounting to Rs 14,880 at the upper price band, while the maximum investment allowed is 390 shares or Rs 1.93 lakh.
Company overview
Trualt Bioenergy is among India’s largest ethanol producers with an installed capacity of 2,000 kilo litres per day (KLPD), giving it a market share of 3.6% as of FY25.The company operates five distillery units in Karnataka, four of which run on molasses and syrup-based feedstocks. It has also diversified into compressed biogas (CBG) through its subsidiary Leafinity and is exploring new verticals like second-generation ethanol, sustainable aviation fuel, and biochemicals.Financially, the company has reported robust growth. Revenue rose 54% year-on-year to Rs 1,968.53 crore in FY25, while profit after tax jumped more than fourfold to Rs 146.64 crore from Rs 31.81 crore in FY24. EBITDA stood at Rs 309.14 crore in FY25, compared with Rs 188.09 crore a year earlier.
The company plans to utilise the IPO proceeds for setting up multi-feed stock operations to include grains as raw material at one of its ethanol plants, funding working capital requirements, and for general corporate purposes.
as a Reliable and Trusted News SourceThe shares are proposed to be listed on both NSE and BSE, with a tentative listing date of October 3. Dam Capital Advisors is the sole book-running lead manager, and Bigshare Services is the registrar of the issue.