TruAlt Bioenergy's IPO: Fueling Future with Ethanol Innovations
TruAlt Bioenergy Ltd, a major biofuels producer, is launching a Rs 839-crore IPO, priced between Rs 472 and Rs 496 per share. Funds from the IPO will support the company's endeavors in multi-feed stock operations, debt repayment, and diversification into grain-based ethanol production to stabilize resources and costs.
- Country:
- India
Biofuels industry leader TruAlt Bioenergy Ltd announced its initial public offering (IPO) with a target to raise Rs 839 crore. The IPO price range is set between Rs 472 to Rs 496 per share, and it will open for public subscription from September 25 to September 29.
The IPO comprises a fresh issuance of shares worth Rs 750 crore and an offer-for-sale (OFS) involving 18 lakh shares priced at Rs 89.28 crore at the highest range. This move aims to finance the company's multi-feed stock facilities, reduce debt, and support overall corporate purposes.
TruAlt Bioenergy, headquartered in Bengaluru, predominantly produces ethanol and is exploring new ventures into second-generation ethanol using surplus bagasse. Shifting towards grain-based ethanol production, the company seeks to mitigate reliance on seasonal materials, stabilize costs, and ensure consistent output.
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- IPO
- Ethanol
- Stocks
- Biofuels
- Investment
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- Bangalore
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