Trualt Bioenergy, which claims one of the largest ethanol producers in India, has filed red herring prospectus with the Registrar Companies to launch initial public offering for subscription on September 25.
The company aims to raise Rs 750 crore via new shares, while promoters Dhraksayani Sangamesh Nirani, and Sangamesh Rudrappa Nirani will be selling 18 lakh shares via offer-for-sale (OFS).
The public issue will remain open till September 29, while the one-day anchor book will be launched on September 24. The IPO share allotment will be finalised by September 30, while the trading in Trualt Bioenergy shares will commence on the bourses with effect from October 3.
The Bangalore-based biofuels producer with installed ethanol production capacity of 2,000 kilo litres per day (KLPD) will spend Rs 150.68 crore of the fresh issue proceeds for setting up multi-feed stock operations to pave- way for utilizing grains as an additional raw material in ethanol plants at unit 4 of 300 KLPD capacity.
Further, Rs 425 crore will be used for working capital requirements, while the company will set aside the remaining fresh issue funds for general corporate purposes.
Click Here To Read All IPO News
Trualt Bioenergy that compete with Balrampur Chini Mills, Triveni Engineering and Dalmia Bharat Sugar has five distillery units in Karnataka including four ethanol production distilleries on molasses and syrup-based feedstocks.
By March 2026, out of the 2,000 KLPD installed capacity, the company intends to convert 1,300 KLPD of current mono feed (sugarcane juice / sugar syrup / molasses) capacity to dual-feed, capable of producing ethanol from grain-based feedstocks or grains unfit for human consumption.
Its subsidiary Leafiniti produced compressed biogas under the Sustainable Alternative Towards Affordable Transportation scheme by government, operating one CBG plant with a capacity of 10.20 tonnes per day (TPD). In August this year, the subsidiary signed share subscription cum shareholders’ agreement with GAIL, though which it will be setting up multiple CBG units across various locations in a phased manner.
On the financial front, Trualt Bioenergy has posted profit at Rs 146.6 crore for FY25, growing 361 percent compared to Rs 31.8 crore in previous year. Revenue during the same perio soared 56 percent to Rs 1,907.7 crore, up from Rs 1,223.4 crore.
The book running lead managers handling the Trualt Bioenergy IPO are DAM Capital Advisors, and SBI Capital Markets.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
