TruAlt Bioenergy is all set to launch its first IPO, Filed IPO papers with SEBI

TruAlt Bioenergy IPO: India’s leading biofuels producer, TruAlt Bioenergy is all set to launch its first IPO. The company has filed IPO papers with SEBI to raise funds through public subscriptions.

The TruAlt Bioenergy IPO will include a fresh issue of shares worth Rs 750 crore and the promoters of the company will issue OFS of 36 lakh shares.

Among the promoters, Dhraksayani Sangamesh Nirani and Sangamesh Rudrappa Nirani will sell 18 lakh shares each.

As per the reports, the promoters of the company hold own 88.20% stake in the company, and the rest 11.8% are owned by public shareholders including Chartered Finance and Leasing and Vikasa India EIF I Fund.

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The leading biofuel producer plans to get Rs 150 crore through a private placement, a rights issue, a special offer, or any other way before the filing of the Red Herring Prospectus with the Registrar of Companies.

The amount of funds raised from the IPO, Rs 172.68 crore will be used to build multi-feed stock operations so that grains can be used as an extra raw material in ethanol plants at TBL Unit 4 with a capacity of 300 KLPD.

The company will aslo use Rs 425 crore on working capital needs and the rest of the funds will be used for general business needs.

The company reports that it is India’s largest ethanol producer as it produces 1,400 kilolitres per day (KLPD). The company’s market share is among the biggest in terms of ethanol production capacity at 3.7%.

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The company reported tha it made a net profit of Rs 31.8 crore in the fiscal year that ended in March 2024 which is less than what it made in the previous year’s net profit of Rs 35.5 crore.

The company’s operating income rose from Rs 762.4 crore to Rs 1,223.4 crore during the same time.

The company’s EBITDA jumped 79% to Rs 188 crore in FY24 and the margin grew by 160 basis points to 15.4 percent compared to last year.

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