TruAlt Bioenergy Sets Price Band for ₹839-Crore IPO, Opening September 25

TruAlt Bioenergy Ltd, a leading biofuels producer based in Bengaluru, has fixed a price band of ₹472 to ₹496 per share for its upcoming ₹839-crore initial public offering. The IPO, a mix of fresh issuance and offer-for-sale, will open for subscription on September 25 and close on September 29.

Proceeds from the fresh issue will fund multi-feed stock operations, debt repayment, and general corporate purposes. The company, known for ethanol production, is diversifying into second-generation ethanol and grain-based ethanol to mitigate seasonal raw material risks.

TruAlt's strategic pivot toward grain-based ethanol aims to stabilize input costs and ensure consistent production. The IPO allocation reserves 50% for qualified institutional buyers, underscoring institutional interest in India's renewable energy sector.