TruAlt Bioenergy’s Rs 839-Crore IPO to Open on September 25

Biofuels producer TruAlt Bioenergy Ltd on Monday announced that its initial public offering (IPO) will open for subscription on September 25 and close on September 29. The IPO has been priced in the band of Rs 472 to Rs 496 per share.

The maiden share sale will raise a total of Rs 839.38 crore, comprising a fresh issue of shares worth Rs 750 crore and an offer-for-sale (OFS) of 18 lakh shares by the company’s promoters, valued at Rs 89.28 crore at the upper end of the price band.

The proceeds from the fresh issue will be utilised to fund expansion plans, strengthen the company’s balance sheet, and support working capital requirements, according to the company statement.

TruAlt Bioenergy, which operates in the biofuels sector, aims to leverage its IPO to expand production capacity and increase market presence in India’s growing renewable energy market.

Market analysts expect strong investor interest in the IPO, citing the increasing focus on sustainable energy and government incentives for biofuel production.