TruAlt Bioenergy Limited
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Following its successful public offering, TruAlt Bioenergy Limited's made its market debut on Oct 03, 2025 and is now actively traded on the NSE, BSEplatform. The IPO mobilized 1,69,20,967 Shares in total capital, including 1,51,20,967 Shares in primary equity infusion and ₹89.28 Cr in secondary share sales.
The offering was structured with a price band of ₹472 to ₹496 and minimum investment lots of 30 shares. Investor participation during the subscription window from Sep 25, 2025 to Sep 29, 2025 demonstrated market confidence in the company's prospects.
The allotment process concluded on Sep 30, 2025, allocating shares to successful bidders. The listing represents the culmination of the IPO process, transitioning the company to publicly traded status with enhanced transparency and governance standards.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Trualt Bioenergy Limited, established in 2021, is a growing player in the renewable energy sector, primarily focusing on ethanol and compressed biogas (CBG). The company operates three distillery units in Karnataka with a combined ethanol production capacity of 1,400 KLPD, supported by both molasses and sugar syrup as raw materials. In FY 2023 and 2024, it produced 164,904 KL and 141,659 KL of ethanol, showing steady contribution to India’s green energy transition. Alongside ethanol, Trualt runs a CBG unit with an installed capacity of 10.20 TPD at its Jamakhandi facility and has partnered with GAIL through its subsidiary Leafiniti to set up nine more CBG plants, indicating strong expansion plans. The company aims to strengthen its position in the biofuel industry by focusing on capacity growth, strategic partnerships, and sustainable energy solutions. As of March 31, 2024, it employed 541 people across its operations.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
- India’s Largest Ethanol Producer – Installed capacity of 2,000 KLPD (1,800 KLPD operational) across five distilleries as of March 31, 2025.
- Integrated Raw Material Supply – Reliable feedstock through promoter group sugar mills with 79,000 TCD crushing capacity.
- Strategic Karnataka Location – Distilleries situated in the state’s sugar belt with access to abundant raw material, incentives, skilled manpower, and lower logistics cost.
- High Policy Dependence – Business performance closely tied to government policies; adverse changes may impact operations and revenues.
- Short Operating Track Record – Ethanol operations started only in September 2022, making the business relatively new and exposed to integration risks.
- Regulatory Compliance Concerns – Past irregularities in share allotment by group entities, settled through NCLT and SEBI, highlight compliance risks.
- Vijaykumar Murugesh Nirani
- Vishal Nirani
- Sushmitha Vijaykumar Nirani
TruAlt Bioenergy Limited
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