Trualt Bioenergy Subscription
Last updated on 28-Sep-2025 16:20:01
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 3384195 | 3040590 | 0.9 |
| HNIs | 2538145 | 2274570 | 0.9 |
| HNIs 10+ | 1692097 | 1053990 | 0.62 |
| HNIs 2+ | 846048 | 1220580 | 1.44 |
| Retail | 5922339 | 5454120 | 0.92 |
| Total | 11844679 | 10769280 | 0.91 |
Application-Wise Breakup (Approx. no. of Apps) | |||
|---|---|---|---|
| Category | Reserved | Applied | Times |
| HNIs (10L+) | 4029 | 462 | 0.11 |
| HNIs (2-10L) | 2014 | 2676 | 1.33 |
| Retail | 197411 | 152756 | 0.77 |
| Total Applications: 155894 | |||
| © IPO Premium | |||
| Subscription Demand (in ₹ crore) | |||
|---|---|---|---|
| Category | Offered | Demand | Times |
| QIBs | 167.86 | 150.81 | 0.9 |
| FIIs | - | 0 | - |
| DIIs | - | 0.1 | - |
| Mutual funds | - | 0 | - |
| Others | - | 150.71 | - |
| HNIs | 125.89 | 112.82 | 0.9 |
| HNIs 10+ | 83.93 | 52.28 | 0.62 |
| HNIs 2+ | 41.96 | 60.54 | 1.44 |
| Retail | 293.75 | 270.52 | 0.92 |
| Total | 587.5 | 534.16 | 0.91 |
| QIB Interest Cost per share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹0.6 | @8% ₹0.7 | @9% ₹0.8 | @10% ₹0.9 | @11% ₹0.9 | @12% ₹1 |
Trualt Bioenergy Lot(s) Distribution
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 30 | 14880 | 197411 |
| sHNI | 14 | 420 | 208320 | 2014 |
| bHNI | 68 | 2040 | 1011840 | 4029 |
Trualt Bioenergy Reservation
| Category | Shares Offered | % |
|---|---|---|
| Anchor | 5076289 | 30% |
| QIB | 3384195 | 20% |
| HNI | 2538145 | 15% |
| Retail | 5922339 | 35% |
| Total | 16920968 | 100% |
Trualt Bioenergy About
IPO Details
| Total Issue Size | 1,69,20,967 shares (aggregating up to ₹839.28 Cr) |
| Fresh Issue | 1,51,20,967 shares (aggregating up to ₹750 Cr) |
| Offer For Sale | 18,00,000 shares (aggregating up to ₹89.28 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 7,06,31,624 shares |
| Share Holding Post Issue | 8,57,52,591 shares |
Key Performance Indicator (KPI)
| KPI | MAR-25 (Consolidated) | MAR-24 (Consolidated) | MAR-23 (Standalone) |
|---|---|---|---|
| ROE | 28.27% | 10.27% | 27.04% |
| ROCE | 10.88% | 7.42% | 11.38% |
| EPS (BASIC) | 20.94 | 4.25 | 7.1 |
| P/E Pre IPO | 23.89 | ||
| P/E Post IPO | 29.01 |
Company Financials (In ₹Crore)
| Period Ended | 31-Mar-25 | 31-Mar-24 |
|---|---|---|
| Assets | 3,029.73 | 2,419.08 |
| Total Income | 1,968.53 | 1,280.19 |
| Profit After Tax | 146.64 | 31.81 |
| EBITDA | 309.14 | 188.09 |
| NET Worth | 769.00 | 264.61 |
| Total Borrowing | 1,549.68 | 1,684.68 |
Peer Comparision (Valuation)
| Company | P/E (x) | CMP*(₹) | Face value (₹) |
|---|---|---|---|
| TruAlt Bioenergy Limited | - | - | 10.00 |
| Balrampur Chini Mills Ltd | 23.89 | 515.35 | 1.00 |
| Triveni Engineering & Industries Ltd | 33.07 | 359.75 | 1.00 |
| Dalmia Bharat Sugar & Industries Ltd | 7.75 | 370.45 | 2.00 |
Peer Comparision (Financial Performance)
| Company | NAV/Share (₹) | RoNW (%) | EPS (Basic) (₹) |
|---|---|---|---|
| TruAlt Bioenergy Limited | 108.87 | 19.07 | 20.94 |
| Balrampur Chini Mills Ltd | 187.99 | 11.51 | 21.65 |
| Triveni Engineering & Industries Ltd | 144.34 | 7.66 | 10.88 |
| Dalmia Bharat Sugar & Industries Ltd | 399.62 | 11.96 | 47.78 |
About Company
Trualt Bioenergy Limited, incorporated in 2021, is engaged in the production of biofuels with a strong focus on ethanol. It is among the largest ethanol producers in India, with an installed capacity of 2,000 KLPD and a 3.6% market share in Fiscal 2025.
Business Operations
- Ethanol Production – The core area of operations, supported by five distillery units in Karnataka, of which four run on molasses and syrup-based feedstocks.
- Compressed Biogas (CBG) Production – Operated through its subsidiary Leafinity, which runs a CBG plant with a capacity of 10.20 TPD as of March 31, 2025.
Expansion & Partnerships
- Signed MoUs with a Japanese Gas Company and Sumitomo Corporation Asia & Oceania Pte. Ltd. to expand CBG capacity.
- Plans to diversify into second-generation ethanol, sustainable aviation fuel, Mevalonolactone (MVL), and allied biochemicals.
Strength
Largest Ethanol Production Capacity: As of March 31, 2025, the company is India’s largest ethanol producer with an installed capacity of 2,000 KLPD across five distillery units, four of which are already operational with 1,800 KLPD capacity.
Strong Raw Material Integration: The company secures sugarcane juice, syrup, and molasses from promoter group sugar mills with a crushing capacity of 79,000 TCD, ensuring reliable and scalable raw material supply.
Strategic Location Advantage: All distilleries are located in Karnataka’s sugar belt, offering abundant feedstock, government incentives, skilled manpower, and reduced logistics costs, enhancing efficiency and sustainability.
Weakness
Policy Dependence: The company’s performance is heavily reliant on Government of India policies; any policy change can directly affect revenue and operations.
Limited Operating History: Ethanol production began in September 2022, making the business relatively new and exposed to risks from past acquisitions and business transfers.
Trualt Bioenergy Lead Manager(s)
Trualt Bioenergy Address
Survey No. 166, Kulali Cross,
Jamkhandi Mudhol Road, Bagalkot,
587313, Karnataka, India
Bagalkot, Karnataka, 587313
Phone: 080 2325 5000
Email: cs@trualtbioenergy.com
Website: https://www.trualtbioenergy.com/
Trualt Bioenergy Registrar
Trualt Bioenergy Reviewers
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