TruAlt Bioenergy IPO GMP Falls Ahead Of Listing On October 3

TruAlt Bioenergy IPO GMP: TruAlt Bioenergy's initial public offering (IPO) is set to list on both the bourses - National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) - on October 3. Ahead of the listing, its grey market premium (GMP) declined 22 per cent to Rs 85 per share from Rs 109 quoted on September 28.

TruAlt Bioenergy IPO shares were issued to allottees at Rs 496 per share. Given the current GMP and the issue price, the expected listing price of TruAlt Bioenergy IPO is Rs 581 per share, a premium of 17.14 per cent.

Through the IPO, TruAlt Bioenergy raised Rs 839.28 crore, which includes a fresh issue of 15.12 million shares worth Rs 750 crore and an offer for sale of 1.8 million shares worth Rs 89.28 crore.

Dam Capital Advisors and SBI Capital Markets were the book-running lead managers for TruAlt Bioenergy IPO, and Bigshare Services is the registrar.

The basis of allotment of equity shares of TruAlt Bioenergy IPO was finalised on September 30, and the refunds were issued to non-allottees on the same day.

TruAlt Bioenergy IPO Subscription Details

TruAlt Bioenergy was open from September 25 to September 29 for public subscription. TruAlt Bioenergy IPO received strong demand from investors across categories.

As per exchange data, the TruAlt Bioenergy IPO received an overall subscription of 71.92 times the shares on offer. The qualified institutional buyer (QIB) quote was booked 159.22 times, the non-institutional investor (NII) category saw 98.56 times subscription, and the retail investor portion was booked 11 times.

TruAlt Bioenergy Financial Performance

TruAlt Bioenergy reported a revenue of Rs 1,907.72 crore in FY25, up from Rs 1,223.40 crore in FY24 and Rs 762.38 crore in FY23.

The company's net profit also surged to Rs 146.63 crore, a sharp rise from Rs 31.80 crore in FY24 and Rs 35.46 crore in FY23.

Earnings per share (EPS) climbed to Rs 20.94 in FY25, as against Rs 4.25 in FY24 and Rs 7.10 in FY23.

TruAlt Bioenergy Company Profile

TruAlt Bioenergy Limited, founded in 2021, is a major player in India's biofuel sector, focusing primarily on ethanol. With an installed capacity of 2,000 KLPD, it ranks among the country's largest ethanol producers and held a 3.6% market share in FY25, it said in its red herring prospectus (RHP).

The company also operates in compressed biogas (CBG) production through its subsidiary, Leafinity, which runs a CBG plant with a capacity of 10.2 TPD as of March 31, 2025.