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TruAlt Bioenergy IPO
Price Band
₹472.0–496.0
Issue Size
₹839.28 Cr
Lot Size
30 shares
Min Investment
₹14,880
GMP
+₹85.0 (17.14%)
Issue Price
₹496.0
Subject to Sauda
₹1900
Paid only if allotted
TruAlt Bioenergy IPO AI Summary
- TruAlt Bioenergy IPO is listed on BSE, NSE in the Other Agricultural Products sector.
- Price band: ₹472.0–₹496.0 per share, lot size 30 shares (min. investment ₹14,880).
- Subscription window: 25 Sep–29 Sep 2025, listing on 03 Oct 2025.
- Current GMP is +₹85.0 (17.14%), an estimated listing price of ₹581 — unofficial and can change daily.
TruAlt Bioenergy Limited is an emerging player in the biofuel sector, particularly in ethanol production, with significant growth in revenue and profitability. The IPO aims to raise funds for expansion and working capital, with a competitive position in the market.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
TruAlt Bioenergy IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 29 Sep 2025 — not a current signal.
2 of 2 reviewers say Neutral
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
TruAlt Bioenergy IPO Grey Market Premium (GMP) Today
GMP
+₹85.0
GMP %
+17.14%
Est. Listing
₹581.0
Updated: 25 Jul 2026 14:15
About the Company
Trualt Bioenergy Limited, incorporated in 2021, is engaged in the production of biofuels, with a primary focus on the ethanol sector. It is one of the largest Ethanol producer in India based on installed capacity of 2,000 kilo litres per day (KLPD). In Fiscal 2025, it has a 3.6% market share in ethanol production capacity. The company's business operations spans across ethanol production and compressed biogas (CBG) production. As on Mar 31, 2025, its subsidiary, Leafinity operates one CBG production plan with a capacity of 10.20 TPD (Tonnes per day). To further expand its CBG capacity, it has entered into Memorandum of understandings (MoUs) with a Japanese Gas company and Sumitomo Corporation Asia & Oceania Pte. Ltd. As on the date of RHP, the company has five distillery units in Karnataka, four are operated on molasses and syrup-based feedstocks. The company also proposed to enter into other verticals, including second-generation ethanol, sustainable aviation fuel, and Mevalonolactone (“MVL”) and Allied Biochemicals. Competitive Strengths Largest Installed Capacity for Production of Ethanol in India Integrated Resource Management, Creating Scalable Operations Strategically Located Production Infrastructure, with a Focus on Technological Innovation and Sustainability Well-positioned to Capture Favourable Industry Tailwinds Entrenched Customer Relationships and Strong Demand Pipeline Skilled and Experienced Promoters and Management Team
Company Financials (₹ Cr)
As of 2025-03-31
| Period Ended | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|
| 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 |
Key Ratios
EPS
₹20.76
NAV
₹108.87
ROE
28.27%
ROCE
10.88%
RoNW
19.07%
P/B Value
4.56
P/E Ratio
23.89
Market Cap
₹4253.33 Cr
PAT Margin
7.69%
Debt/Equity
2.02
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Dalmia Bharat Sugar & Industries | 399.62 | 11.96% | 7.75 | 47.78 | 47.78 |
| Triveni Engineering & Industries | 144.34 | 7.66% | 33.07 | 10.88 | 10.88 |
| Balrampur Chini Mills | 187.99 | 11.51% | 23.89 | 21.65 | 21.57 |
| TruAlt Bioenergy This IPO | 108.87 | 19.07% | — | 20.94 | 20.94 |
Promoters
Vijaykumar Murugesh Nirani, Vishal Nirani and Sushmitha Vijaykumar Nirani
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding capital expenditure towards setting up multi-feed stock operations to pave-way for utilizing grains as an additional raw material in ethanol plant at TBL Unit 4 of 300 KLPD capacity. 150.68 2 Funding the working capital requirements. 425.00 3 General Corporate Purposes 81.36 4 Issue Expenses 104.42 Total 761.45
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹1,280.19 Cr in the year ending 31 Mar 2024, rising to ₹1,968.53 Cr by 31 Mar 2025, indicating a significant increase in revenue over this period.
Profit Trend
Profit After Tax was ₹31.81 Cr for the year ending 31 Mar 2024, increasing to ₹146.64 Cr by 31 Mar 2025. This shows a substantial growth in profitability year over year.
Valuation
TruAlt Bioenergy's implied P/E at the issue price is approximately 23.89, compared to peers trading at P/E ratios ranging from 7.75 to 33.07.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the potential price difference between the IPO issue price and the expected listing price. A positive GMP suggests that the stock may list at a higher price than the issue price, reflecting demand in the unofficial market.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against market conditions, company fundamentals, and growth potential.
Who May Want to Wait
Investors who prefer stable returns and are risk-averse may want to avoid IPOs in sectors with high volatility or uncertainty.
IPO Timeline, Explained
The IPO opens for subscription from 25 September 2025 and closes on 29 September 2025. Allotment of shares will be done on 30 September 2025, with listing expected on 3 October 2025.
Listing Gains — The Risk
Listing-day gains can be unpredictable and depend on market conditions, investor sentiment, and demand for the stock. There is always a risk that the stock may not perform as expected on its debut.
This evaluation is generated from TruAlt Bioenergy's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is TruAlt Bioenergy IPO GMP today?
TruAlt Bioenergy IPO GMP today is +₹85.0 (17.14%), indicating an estimated listing price of ₹581. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of TruAlt Bioenergy IPO?
The price band of TruAlt Bioenergy IPO is ₹472.0–₹496.0 per share.
When does TruAlt Bioenergy IPO open and close?
TruAlt Bioenergy IPO opens on 25 September 2025 and closes on 29 September 2025.
When does TruAlt Bioenergy IPO list on the stock exchange?
TruAlt Bioenergy IPO listed on 03 October 2025 at ₹581.0.
What is the lot size for TruAlt Bioenergy IPO?
The lot size for TruAlt Bioenergy IPO is 30 shares, requiring a minimum investment of ₹14,880.
What is the price band for the IPO?
The price band for the IPO is ₹472.0 to ₹496.0.
What is the minimum investment required?
The minimum investment required is ₹14,880, which is for one lot of 30 shares.
When does the IPO open and close?
The IPO opens on 25 September 2025 and closes on 29 September 2025.
What does GMP mean?
GMP stands for Grey Market Premium, indicating the expected price difference between the issue price and the listing price.
When is the listing date?
The listing date is 3 October 2025.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
25 Sep 2025
Close
29 Sep 2025
Allotment
30 Sep 2025
Listing
03 Oct 2025
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