Trualt Bioenergy Announces IPO Price Band and Subscription Details

Trualt Bioenergy has officially established its initial public offering (IPO) price band, setting it between ₹472 and ₹496 per equity share, reflecting a face value of ₹10. The subscription period is slated to commence on September 25 and conclude on September 29, with anchor investor allocations occurring a day prior, on September 24.

The pricing structure indicates a floor price of ₹472, which is 47.20 times the face value, and a cap price of ₹496, equivalent to 49.60 times the face value. Investors will be able to subscribe in lots of 30 shares, with further multiples thereafter. The IPO has allocated a substantial portion of its shares to various investor categories: up to 50% for qualified institutional buyers (QIB), a minimum of 15% for non-institutional investors (NII), and at least 35% for retail investors.

Following the subscription phase, the basis of allotment for shares is expected to be finalized on September 30, with refunds processed on October 1. Shares will subsequently be credited to the demat accounts of successful allottees on the same day, leading to an anticipated listing on the BSE and NSE by October 3.

Headquartered in Bangalore, Trualt Bioenergy produces ethanol at a capacity of 2,000 kiloliters per day. The company plans to allocate ₹150.68 crore from the IPO proceeds to enhance its multi-feedstock operations, thereby allowing the utilization of grains as an additional raw material in ethanol production at its unit with a capacity of 300 kiloliters per day. Furthermore, ₹425 crore will be directed to bolster working capital needs, while the remaining funds will be reserved for general corporate purposes.

The IPO process is being managed by notable book-running lead managers, including Dam Capital Advisors and SBI Capital Markets, with Bigshare Services Pvt. Ltd. acting as the issue registrar.