TruAlt Bioenergy IPO

Issue period

Opens On: 25 Sep 2025

Closes On: 29 Sep 2025

Price band

₹ 472 to 496 per equity share

Bid lot

30 shares and in multiples thereof

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More about the IPO

Issue size	Rs. 839.28 Cr
Price band	Rs. 472 to 496 per equity share
Bid lot	30 shares and in multiples thereof
Issue break-up	QIB - Rs. 419.64 Cr
	HNI - Rs. 125.89 Cr
	RET - Rs. 293.75 Cr
Registrar	Bigshare Services Pvt. Ltd.
Listing at	BSE & NSE

Company Details

TruAlt Bioenergy Ltd is one of India’s largest biofuels producers, having strategically positioned ourselves as a prominent and diversified player in the biofuels industry, particularly in the Ethanol sector.

They intend to expand their Ethanol production capabilities by 600 KLPD in three locations, to an aggregate capacity of 2,000 KLPD by October 2024. Further, they are in the process of converting their current mono feed (sugarcane juice / sugar syrup / molasses) unit to a dual feed unit. By March 2026, out of the 2,000 KLPD capacity, they intend to convert 1,000 KLPD to dual-feed, capable of producing ethanol from grain-based feedstocks or grains unfit for human consumption.

They hold the distinction of being the largest Ethanol producer in India based on installed capacity, with an aggregate production capacity of 1,400 kilo litres per day (“KLPD”), as of March 255 31, 2024. Their market share is amongst the largest in terms of Ethanol production capacity in Fiscal 2024, at 3.7%. (Source: CRISIL Report). In addition, they intend to further expand their Ethanol production capabilities by setting up two greenfield units with an additional capacity of 700 KLPD comprising of two units of 500 KLPD and 200 KLPD each to an aggregate production capacity of 2,700 KLPD by Fiscal 2027. As part of their Ethanol production, they also produce extra neutral alcohol (“ENA”), the primary raw material in the production of alcoholic beverages. Their product portfolio also includes dry ice and liquid carbon dioxide ("CO2"), by-products in the Ethanol production process.

Through their Subsidiary, Leafiniti, they are one of the first producers of CBG under the Sustainable Alternative Towards Affordable Transportation ("SATAT") scheme introduced by the Government of India in 2018. (Source: CRISIL Report) Their Subsidiary, Leafiniti, operates one CBG plant with a capacity of 10.20 tonnes per day ("TPD") as of March 31, 2024, which also produces solid and liquid fermented organic manure ("FOM"). To strengthen their CBG capabilities further, they have entered into a non-binding term sheet with Gas Authority of India Limited ("GAIL"), through which their Subsidiary, Leafiniti, to set up nine additional CBG plants, and they intend to set up additional CBG plants with a strategic partner, in each case subject to entering definitive agreements.

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Under the EQUITY dropdown option, tap IPO/OFS/BOND to land on the IPO dashboard.
Click on the Current IPO tab and select the IPO of your choice.
On the IPO application form that opens, fill in details like the Demat Account Number, Category of investor, number of lots you wish to invest in, the Cut-Off Price and others.
Now enter your UPI ID (make sure this UPI ID is connected to your Mirae Asset Sharekhan-mapped bank account) on the form.
Read and accept the Terms & Conditions and click on the SUBMIT button. Recheck the details on the order confirmation screen and confirm the order.
Once the exchange receives details about your bid, you will get a notification (IPO mandate request) on your UPI app and an SMS as well.
Log in to your UPI app and go to the pending mandates section.
Verify all the details once again and authenticate your bid amount by entering your UPI PIN.
Once done, the IPO application amount will be blocked and you will receive an SMS about the blocked Bid amount.

Note: The actual amount will be debited when the shares are allotted to you.

How to apply for an IPO on the Mirae Asset Sharekhan app

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Log in to the Mirae Asset Sharekhan website and click the IPO & OTHERS menu option you see on the top-right.
From the list of Active IPOs, select the IPO of your choice
On the IPO application form that opens, fill in details like the Demat Account Number, Category of investor, number of lots you wish to invest in, the Cut-Off Price and others.
Now enter your UPI ID (make sure this UPI ID is connected to your Mirae Asset Sharekhan-mapped bank account) on the form. Read and accept the Terms & Conditions and click on the SUBMIT button.
Recheck the details on the order confirmation screen and confirm the order.
Once the exchange receives details about your bid, you will get a notification (IPO mandate request) on your UPI app and an SMS as well. Log in to your UPI app and go to the pending mandates section.
Verify all the details once again and authenticate your bid amount by entering your UPI PIN.
Once done, the IPO application amount will be blocked and you will receive an SMS about the blocked Bid amount.
Your IPO order will now appear on your Mirae Asset Sharekhan Order Book, from where you can modify or cancel your IPO bid if you so wish.

Note: The actual amount will be debited when the shares are allotted to you.

How does an IPO work?

An IPO offers share market participants like you and me an opportunity to be a shareholder in an erstwhile privately held company that is now going public and being listed on the market. Historically speaking, investors who choose the right IPOs make significant returns on their investments, which increases the attraction of IPOs.

Once you are a shareholder, you are eligible to receive dividends from the company proportional to the shares you own. You can also sell your stocks for profit on the stock exchange.

In exchange for its shares, the company has an opportunity to raise huge capital to be used to further enhance its business and scale up its operations. The company also has other benefits, such as credibility; visibility; better leverage to effect mergers, acquisitions and even to procure loans at lower rates of interest.

In India, the entire IPO process is ably regulated by the Securities & Exchange Board of India (SEBI), right from the IPO filing by the company to the bidding, allotments and refunds (in case you aren't allotted shares due to oversubscription).

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TruAlt Bioenergy IPO

Issue period

Price band

Bid lot

More about the IPO

Company Details

How to apply for an IPO on the Mirae Asset Sharekhan app

How to apply for an IPO on the Mirae Asset Sharekhan website

How does an IPO work?

IPO Calendar

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