TruAlt Bioenergy came to market through an IPO that opened on 25 September 2025 and closed on 29 September 2025, and the shares listed on 3 October 2025 on BSE, NSE. The price band was ₹472 to ₹496 per share and one lot was 30 shares, so the minimum application was ₹14,880. The issue size was ₹839.28 crore. It combined a fresh issue of new shares with an offer for sale by existing shareholders.
Bigshare Services Pvt.Ltd was the registrar to the issue, and Dam Capital Advisors Ltd., SBI Capital Markets Ltd were the lead managers.
As of 29 September 2025.
| Day |
|---|
| 1 |
| 2 |
| 3 |
TruAlt Bioenergy Limited, incorporated in 2021, is involved in the manufacture of biofuels with a focus on the ethanol industry. It is one of India's largest ethanol manufacturers by installed capacity of 2,000 kilo litres per day (KLPD). In Fiscal 2025, it holds a market share of 3.6% in ethanol manufacturing capacity. The business operations of the company extend to ethanol production and production of compressed biogas (CBG).
As on Mar 31, 2025, it has one CBG production facility with a capacity of 10.20 TPD (Tonnes per day) through its subsidiary Leafinity. To increase its CBG capacity further, it has signed Memorandum of Understandings (MoUs) with Japanese Gas company and Sumitomo Corporation Asia & Oceania Pte. Ltd. As on the RHP date, the company has five distillery units in Karnataka, out of which four are run on molasses and syrup-based feedstocks.
The company further proposes entering other verticals such as second-generation ethanol, sustainable aviation fuel, and Mevalonolactone ("MVL") and Allied Biochemicals. Competitive Strengths Biggest Installed Capacity for Production of Ethanol in India Integrated Resource Management, Developing Scalable Operations Strategically Situated Production Infrastructure, Focusing on Technological Innovation and Sustainability Well-positioned to Harness Favorable Industry Tailwinds Committed Customer Relationships and Robust Demand Pipeline Talented and Experienced Promoters and Management Team
As described in the offer document.
| Metric | 31-Mar-25 | 31-Mar-24 |
|---|
TruAlt Bioenergy raises Rs 252 crore through anchor book before IPO. Tata Mutual Fund (MF), HDFC MF, Bandhan MF, SBI General Insurance Company, Societe Generale, and Citigroup Global Markets Mauritius were among the anchor investors.
Vijaykumar Murugesh Nirani, Vishal Nirani, Sushmitha Vijaykumar Nirani. Promoter holding 88.20% before the issue.
Work out the listing gain for this IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
TruAlt Bioenergy IPO was a ₹839.28 crore book-built issue, comprising a fresh issue of ₹750 crore and an offer for sale of ₹89.28 crore. It was priced at ₹472–₹496 per share with a lot size of 30 shares (₹14,880). The IPO was open from September 25 to September 29, 2025 and was subscribed 75.02x. Shares listed on BSE and NSE on October 3, 2025 at ₹545.40, a 10.0% premium to the issue price of ₹496. Bigshare Services Pvt. Ltd.
is the registrar. Dam Capital Advisors Ltd. and SBI Capital Markets Ltd. are the book running lead managers.
The price band of TruAlt Bioenergy IPO is ₹472 to ₹496 per share.
The lot size of TruAlt Bioenergy IPO is 30 shares.
The minimum investment for TruAlt Bioenergy IPO is approximately ₹14,880 based on the upper price band.
The allotment date of TruAlt Bioenergy IPO is Sep 30, 2025.
TruAlt Bioenergy IPO's final recorded GMP before listing was ₹90 per share (a 18% premium over the ₹496 upper price band). The shares listed at ₹545.4. GMP is unofficial and does not forecast or guarantee the actual listing price.
TruAlt Bioenergy IPO listed on Oct 3, 2025. It was issued at ₹545.4(NSE) and is currently around ₹370.00 as on 2-Nov-2026 3:30 PM, which is approximately -25.4% versus issue price. The 52-week high is ₹542.00.
You can check TruAlt Bioenergy IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the TruAlt Bioenergy IPO allotment status on Rupix for quick and easy access.
₹472 to ₹496 per share, against a face value of ₹10. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 30 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹14,880.
₹14,880, for one lot of 30 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 25 September 2025 and closed on 29 September 2025.
The basis of allotment was published on 30 September 2025 by Bigshare Services Pvt.Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 3 October 2025 on BSE, NSE.
The issue size was ₹839.28 crore. The fresh issue was 1,51,20,967 shares (aggregating up to ₹750 crore). The offer for sale was 18,00,000 shares (aggregating up to ₹89.28 crore).