Thursday, September 25, 2025-Mumbai, Maharashtra, India — Bangalore .
TruAlt Bioenergy, based in Bengaluru, stands out as a prominent biofuels producer, focusing mainly on ethanol production. The company is branching out into new sectors, such as second-generation (2G) ethanol, by utilizing surplus bagasse, which is a byproduct from sugar manufacturing, as a raw material.
The maiden public issue of TruAlt Bioenergy comprises a fresh issue of shares worth Rs 750 crore and an offer for sale (OFS) of 18 lakh shares worth Rs 89.28 crore by the existing promoters. The price band has been set at Rs 472-496 per share for the IPO which will remain open between September 25 and September 29.
Investors can bid for a minimum of 30 shares, requiring an investment of Rs 14,880 at the upper price band, and in multiples thereafter. The share allotments are likely to be finalized by September 30, and the shares are scheduled to be listed on stock exchanges on October 3.
The company was incorporated in 2021 and has one of the largest ethanol production capacities (2000 KLPD) in India. By FY2025, the company has a 3.6% market share in ethanol production capacity. Additionally, the company is active in biofuels and compressed biogas (CBG) production. As of March 2025, its subsidiary, Leafinity, operates a CBG plant with a capacity of 10.20 TPD. Additionally, the company has signed MoUs with Japan Gas Company and Sumitomo Corporation Asia & Oceania Private Limited to expand CBG production.
The business outcomes for TruAlt are significantly shaped by the availability and pricing of raw materials, including sugar syrup and molasses. To lessen dependence on these seasonal inputs, the company is aiming to prioritize the production of grain-based ethanol.
Truult Bioenergy has also demonstrated strong financial performance. In FY2025, the company’s revenue increased by 54% to Rs.1,968.53 crore, while profit jumped 361% to Rs.146.64 crore. The company has a ROE of 28.27% and ROCE of 10.88%, while the debt-to-equity ratio is 2.02.
The proceeds from the new issuance will be allocated for establishing multi-feed stock operations, settling debt, and general corporate activities.The book-running lead managers for the public offering are DAM Capital Advisors and SBI Capital Markets.
