TruAlt Bioenergy IPO: What do the subscription numbers indicate?
TruAlt Bioenergy's IPO just saw massive demand—bids came in for over 8.8 crore shares, even though only 1.24 crore were on offer to the public.
The issue was oversubscribed by 713%, with non-institutional investors leading the way (22.75x subscription), followed by strong interest from retail and qualified institutional buyers.
Who are TruAlt Bioenergy?
Based in Bengaluru, TruAlt is India's largest ethanol producer, running a big bio-refinery that makes ethanol, Extra Neutral Alcohol (ENA), Compressed BioGas (CBG), and more.
They're also moving into second-generation ethanol using bagasse to reduce their reliance on seasonal raw materials like sugar syrup and molasses.
GMP, issue details, and other key factors
The IPO was priced at ₹472-496 per share and raised ₹251.78 crore from anchor investors before opening to the public.
In total, they're raising about ₹839 crore—money that'll go toward expanding feedstock sources, funding working capital, and other business needs.
The gray market premium stood at ₹109 on Friday (hinting at a possible 22% listing gain), and shares are set to debut on October 3, 2025.
DAM Capital Advisors and SBI Capital Markets are managing the listing process.