TruAlt Bioenergy vs Epack Prefab IPO: Which Is the Better Bet?

With India’s capital markets abuzz, two IPOs—TruAlt Bioenergy and Epack Prefab Technologies—are drawing investor attention. While Epack is already midway or close to closure, TruAlt is still open. Let’s compare their numbers, strengths, and what makes TruAlt a compelling pick for long-term investors.

Subscription & Investor Demand

• TruAlt Bioenergy IPO
  On Day 1, the issue had a 44% overall subscription rate. Retail got ~30%, NII ~24%, while QIB portion drew ~86%. In the early hours, bidding was modest, with a ~6% subscription rate.
  
  

• Epack Prefab IPO
  Day 1 ended with ~0.30× oversubscription (i.e., 30% subscription) overall.
  On Day 1, the QIB portion alone saw ~46% subscription.
  By Day 2, the IPO had reached ~59% subscription overall.

Takeaway: Epack is gaining momentum, but it started slower than many anticipated. TruAlt had a stronger Day 1 show (especially in institutional demand), giving it a healthier footing as its subscription window continues.

Sector Positioning & Growth Potential

• Epack Prefab
  Operates in prefabricated steel and construction solutions. It has a strong order backlog and is expanding capacity. In FY25, reported revenue ~ ₹1,133.9 crore and profit ~ ₹59.3 crore.

• TruAlt Bioenergy
  A major player in ethanol & biofuels, aligning with India’s push for cleaner fuels and blending mandates. The IPO’s structure (₹839.28 crore, price band ₹472–496) is confirmed.
  
  

Edge: TruAlt benefits from policy tailwinds in renewable energy/ethanol blending, giving it a structural advantage over Epack’s more cyclical construction domain.

Financial Strength & Anchor Support

• Epack Prefab
  Raised ₹151.2 crore from anchor investors before IPO. 

• TruAlt Bioenergy
  The size, price band, and structure are well documented—₹839.28 crore issue, price ₹472–496, lot size 30 shares. 

While I did not find a reliable public figure similar to Epack’s ₹151 crore anchor raise, TruAlt’s strong Day 1 institutional response is a positive sign.

What This Means for Investors

• Short-term listing gains
  Epack may offer strong listing returns if momentum continues and GMP is favorable. But its high reliance on near-term interest adds volatility.
  
  

• Long-term potential & defensibility
  TruAlt’s play in the biofuel space, policy alignment, and institutional backing make it more defensible over multi-year horizons.
  
  

• Risk balance
  Epack faces execution and competitive risks in construction. TruAlt depends on raw material pricing (molasses, etc.) and regulatory support.
  
  

Thus, while Epack might excite short-term traders, TruAlt Bioenergy presents a stronger, balanced opportunity—good listing potential + solid long-term story.