TruAlt Bioenergy Shares Debut with Nearly 11% Premium
New Delhi: Shares of biofuels producer TruAlt Bioenergy Ltd made a strong debut on Friday, listing at a premium of nearly 11% over the issue price of ₹496.
On the BSE, the stock opened at ₹550, marking a 10.88% rise, while on the NSE, it began trading at ₹545.40, up 9.95% from the issue price. The company’s market valuation currently stands at ₹4,617.78 crore.
The company’s ₹839.28-crore IPO was oversubscribed 71.92 times on its final day of offering. The IPO included a fresh issue of shares worth ₹750 crore and an offer-for-sale (OFS) of 18 lakh shares by promoters, valued at ₹89.28 crore at the upper price band of ₹496 per share. Funds from the fresh issuance will be used for multi-feedstock operations, debt repayment, and general corporate purposes.
Bengaluru-based TruAlt Bioenergy is a leading ethanol producer and is expanding into second-generation (2G) ethanol, utilizing surplus bagasse, a sugar production byproduct, as feedstock. The company’s performance is closely tied to the price and availability of raw materials like sugar syrup and molasses.
To reduce dependence on seasonal raw materials, TruAlt plans to increase production of grain-based ethanol, a move expected to stabilize costs, optimize revenue, and ensure consistent ethanol output.
