The biofuel sector is gaining momentum, and the Trualt Bioenergy IPO GMP has already caught the attention of investors ahead of its Mainboard listing. TruAlt Bioenergy Ltd., one of India’s largest biofuel manufacturers, is set to raise ₹839.28 Cr through a mix of fresh issue and Offer for Sale (OFS). This guide gives you a complete breakdown of dates, pricing, financials, and the latest GMP trends.
IPO Key Dates and Price Band
The TruAlt Bioenergy IPO is a book-built issue of ₹839.28 Cr, consisting of both a fresh issue and an OFS.
Issue Composition
Retail Investment Details
Trualt Bioenergy IPO GMP (Grey Market Premium)
The Grey Market Premium (GMP) reflects investor sentiment and potential listing gains.
As of September 23, 2025, the Trualt Bioenergy IPO GMP stands at ₹55.
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Estimated Listing Price: ₹496 (Upper Price Band) + ₹55 (GMP) = ₹551
This premium suggests positive listing expectations, but GMP is speculative and may fluctuate depending on demand and subscription levels.
Company Profile and Objectives
TruAlt Bioenergy Ltd. is a major biofuel producer with strong ethanol manufacturing capacity and a focus on sustainable fuels.
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Market Share: 3.6% of India’s ethanol capacity and 7.0% of sugar-based ethanol.
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Capacity: Installed 2,000 KLPD, operational 1,800 KLPD (as of March 2025).
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Diversification: Moving into Sustainable Aviation Fuel (SAF), Compressed Biogas (CBG), and CO₂-based products.
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Integrated Facilities: Operates five distilleries across Karnataka.
Objectives of the Issue
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Multi-feedstock expansion at TBL Unit 4 (~ ₹150.68 Cr).
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Working capital needs (~ ₹425 Cr).
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General corporate purposes.
Financial Performance (Amount in Lac)
Highlight: FY25 PAT grew over 360% YoY, driven by operational scale-up and favorable ethanol policies.
Valuation and Peer Review
Compared to peers like Balrampur Chini Mills, Triveni Engineering, and Dalmia Bharat Sugar, TruAlt’s valuation is fairly placed within the industry range of 7.75x–33.07x.
Conclusion for Investors
The TruAlt Bioenergy IPO provides investors with direct exposure to India’s fast-growing ethanol and biofuel industry, supported by government initiatives like the Ethanol Blending Policy. With strong revenue growth, diversification into sustainable fuels, and robust capacity expansion, the company shows solid potential.
That said, risks remain due to high leverage and dependence on government policy. For those tracking short-term sentiment, the Trualt Bioenergy IPO GMP is an important indicator, reflecting optimistic listing expectations. Investors should weigh fundamentals, valuations, and GMP trends before taking a call.
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