Trualt Bioenergy IPO
GMP, Subscription, Price, Dates & Financial Details
Incorporated in 2021, Trualt Bioenergy Limited is a leading player in India’s renewable energy sector, primarily engaged in the production of biofuels, with a key focus on ethanol. As of Fiscal 2025, the company ranks among the largest ethanol producers in India, with an installed production…
Open Date
Thu, 25 Sep 2025
Close Date
Mon, 29 Sep 2025
Price Band
₹ 472 – 496
Lot Size
30
Issue Size
₹ 839.00 Cr
Minimum Investment
₹ 14,880 (30 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Trualt Bioenergy IPO has successfully completed its IPO process and is now listed on the NSE and BSE. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹839.00 Crore, comprising a fresh issue of 1.51 Crore equity shares aggregating to ₹750.00 Crore and an offer for sale (OFS) of 18.00 Lakh equity shares aggregating to ₹89.00 Crore by the existing shareholders.
The Trualt Bioenergy IPO remained open for subscription from September 25, 2025, to September 29, 2025. The basis of allotment was finalized on September 30, 2025, and the company's shares were listed on the NSE and BSE on October 03, 2025.
The company had fixed the price band at ₹472 to ₹496 per share, with a lot size of 30 shares. Retail investors were required to make a minimum investment of ₹14,880 (based on the upper price band) to apply for one lot.
Bigshare Services Pvt Ltd served as the registrar to the issue. Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd), and SBI Capital Markets Limited acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Trualt Bioenergy Ltd is now a publicly listed company on the NSE and BSE. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Trualt Bioenergy IPO Timeline (Tentative)
- IPO Open Date
- Thu, 25 Sep 25
- IPO Close Date
- Mon, 29 Sep 25
- Basis of Allotment
- Tue, 30 Sep 25
- Initiation of Refunds
- Wed, 01 Oct 25
- Credit of Shares to Demat
- Wed, 01 Oct 25
- Listing Date
- Fri, 03 Oct 25 — NSE & BSE
Open Date
25 September 2025
Close Date
29 September 2025
Basis Of Allotment
30 September 2025
Listing Date
03 October 2025
IPO Subscription
Check Live Subscription →The Trualt Bioenergy IPO has received bids for 88,85,66,820 shares against 1,23,55,424 shares offered, resulting in an overall subscription of 71.92x. the NII category is subscribed 98.56x, Retail Investors 11x, and QIBs 159.22x. Within the NII category, BNII is subscribed 113.46x, while SNII is subscribed 68.76x.
QIB
159.22x
NII
98.56x
BNII
113.46x
SNII
68.76x
RII
11x
Total
71.92x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 59,22,339 shares, representing 50% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 33,84,195 shares (28.57%), while Non-Institutional Investors (NIIs) receive 25,38,145 shares (21.43%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Qualified Institutions | 3,384,195 | 28.57% |
| Non-Institutional | 2,538,145 | 21.43% |
| BNII | 1,692,097 | 14.29% |
| SNII | 846,048 | 7.14% |
| Retail Investors | 5,922,339 | 50% |
| Total | 11,844,679 | 100% |
Financials Details(₹ in Crores)
| Particular | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|
| Assets | 3029.73 | 2419.08 |
| Revenue | 1968.53 | 1280.19 |
| Profit After Tax | 146.64 | 31.81 |
| Net Worth | 0 | 0 |
| Reserve & Surplus | 0 | 0 |
| Total Borrowings | 1549.68 | 1684.68 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Trualt Bioenergy Ltd KPI Information
| Particular | KPI As On |
|---|---|
| ROE % | 28.27 |
| ROCE % | 10.88 |
| Debt / Equity | 2.02 |
| RoNW % | 19.07 |
| Pat Margin % | 16.2 |
Peers Comparison
No Peer Comparision Available
About Trualt Bioenergy Ltd
Incorporated in 2021, Trualt Bioenergy Limited is a leading player in India’s renewable energy sector, primarily engaged in the production of biofuels, with a key focus on ethanol. As of Fiscal 2025, the company ranks among the largest ethanol producers in India, with an installed production capacity of 2,000 kilolitres per day (KLPD), representing a 3.6% share of the national ethanol production capacity.
Trualt’s business operations encompass ethanol and compressed biogas (CBG) production. As of March 31, 2025, its wholly-owned subsidiary, Leafinity, operates a CBG plant with a capacity of 10.20 tonnes per day (TPD). To expand its CBG footprint, the company has signed Memorandums of Understanding (MoUs) with a prominent Japanese gas company and Sumitomo Corporation Asia & Oceania Pte. Ltd.
The company currently operates five distillery units in Karnataka, of which four utilize molasses and syrup-based feedstocks.
Looking ahead, Trualt Bioenergy is actively exploring expansion into new verticals, including:
- Second-generation ethanol
- Sustainable aviation fuel (SAF)
- Mevalonolactone (MVL) and allied biochemicals
Competitive Strengths
- Market Leader in Ethanol Capacity: Holds the largest installed ethanol production capacity in India.
- Integrated and Scalable Operations: Efficient resource management supports sustainable growth.
- Strategic Infrastructure: Production units are well-located, leveraging technology and sustainability.
- Favorable Industry Positioning: Positioned to benefit from supportive regulatory and market trends.
- Established Customer Base: Strong, long-term relationships with key clients ensure consistent demand.
- Experienced Leadership: Guided by skilled promoters and a seasoned management team.
Trualt Bioenergy IPO Promoters
- Vijaykumar Murugesh Nirani
- Vishal Nirani
- Sushmitha Vijaykumar Nirani
Promoters Holding
Holding Pre Issue
88.20%
Holding Post Issue
70.55%
Trualt Bioenergy IPO Objective
The Company TruAlt Bioenergy IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
- Funding 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 KLPD capacity.
- Funding our working capital requirements.
- General corporate purposes
Trualt Bioenergy Ltd Address / Contact Details
Trualt Bioenergy Ltd.
Survey No. 166, Kulali Cross,
Jamkhandi Mudhol Road, Bagalkot,
587313, Karnataka, India
Bagalkot, Karnataka, 587313
Phone: 080 2325 5000
Email: cs@trualtbioenergy.com
Website: https://www.trualtbioenergy.com/
IPO Snapshot
Trualt Bioenergy IPO Lot Size
The Trualt Bioenergy IPO has a lot size of 30 shares. Retail investors require a minimum investment of ₹14,880 by applying for 1 lot (30 shares). The maximum application allowed for the retail category is 13 lots (390 shares), requiring an investment of ₹1,93,440.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 30 | 14,880.00 |
| Retail (Max) | 13 | 390 | 193,440.00 |
| S-HNI (Min) | 14 | 420 | 208,320.00 |
| S-HNI (Max) | 67 | 2,010 | 996,960.00 |
| B-HNI (Min) | 68 | 2,040 | 1,011,840.00 |
Issue Reservation
- QIB — 28.57%
- NII — 21.43%
- RII — 50%
Book Running Lead Managers
- Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd)
- SBI Capital Markets Limited
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Trualt Bioenergy IPO?
Trualt Bioenergy IPO is a Book-building IPO with a total issue size of ₹839 crore. The Trualt Bioenergy IPO price band is ₹472 to 496 per share. The Trualt Bioenergy IPO subscription opens on Thu, Sep 25, 2025, and closes on Mon, Sep 29, 2025. The Trualt Bioenergy IPO will be listed on the BSE,NSE. Bigshare Services Pvt Ltd is the registrar for the Trualt Bioenergy IPO.
When will the Trualt Bioenergy IPO open for subscription?
The Trualt Bioenergy IPO opens on Thu, Sep 25, 2025 and closes on Mon, Sep 29, 2025
What is Trualt Bioenergy IPO Price Band?
Trualt Bioenergy IPO Price Band is ₹472 to 496 per share.
What is Trualt Bioenergy IPO Lot Size?
Trualt Bioenergy IPO lot size is 30 shares, Retail investors need a minimum investment of ₹14880 based on the upper price band
What is the minimum investment for Trualt Bioenergy IPO?
The minimum investment for Trualt Bioenergy IPO is ₹14880, based on one lot of 30 shares at the upper price band of ₹496 per share.
How to apply for Trualt Bioenergy IPO?
Investors can apply for the Trualt Bioenergy IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Mon, Sep 29, 2025. The application amount remains blocked until the Trualt Bioenergy IPO allotment is finalized.
What is Trualt Bioenergy IPO Issue Size?
Trualt Bioenergy IPO issue size is ₹839 crores.
What is the Trualt Bioenergy IPO Allotment Date?
Trualt Bioenergy IPO allotment date is Tue, Sep 30, 2025.
Who is the Trualt Bioenergy IPO Registrar?
The registrar for Trualt Bioenergy IPO is Bigshare Services Pvt Ltd. Investors can go to Bigshare Services Pvt Ltd website to check Trualt Bioenergy IPO allotment status, refund processing, and other IPO-related information.
What is the Trualt Bioenergy IPO GMP?
The Trualt Bioenergy IPO GMP (Grey Market Premium) is ₹85 as of Fri, Oct 3, 2025. Based on the upper price band of ₹496 per share, the estimated Trualt Bioenergy IPO listing price is ₹581, indicating a potential listing gain of approximately 17.14% over the issue price.
Who is the Trualt Bioenergy IPO Lead Manager?
The book-running lead managers (BRLMs) for the Trualt Bioenergy IPO are Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd), and SBI Capital Markets Limited. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Trualt Bioenergy IPO Red Herring Prospectus (RHP).