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The biofuel market in India is majorly divided into Ethanol, CBG and biodiesel currently, of which Ethanol forms a major chunk. The Indian biogas market is expected to grow up to $2.25 billion in 2029, at a CAGR of 6.3% between 2022 and 2029. As part of its product portfolio, the company produces Ethanol and CBG. Along with Ethanol, the Government of India is looking forward to exploring CBG as an addition in the biofuel mix of the country. Ethanol demand in India is expected to grow at a CAGR of 17.7% to 13,500 million litres by 2026. For CBG, only 97 plants have been commissioned in India as of June 2024, out of the planned 5,000 plants expected to be operational by the end of 2024-2025 under the Sustainable Alternative Towards Affordable Transportation scheme.
| Detail | Information |
|---|---|
| IPO Open Date | Sep 25, 2025 |
| IPO Close Date | Sep 29, 2025 |
| Price Band | ₹472– ₹496 per share |
| Lot Size | 30 shares |
| Issue Size | ₹8,392 million |
| Listing At | BSE, NSE |
| Tentative Listing Date | To be announced |
TruAlt Bioenergy Ltd. (TBL) is engaged in the production of biofuels, with a primary focus on the ethanol sector. It is one of the largest Ethanol producers in India based on installed capacity. In Fiscal 2025, it has a 3.6% market share in ethanol production capacity. The company owns five molasses and sugar syrup-based distillery units in Karnataka, with an aggregate installed Ethanol production capacity of 2,000 KLPD, out of which we have an operational capacity of 1,800 KLPD as of FY25. In comparison, the company had an aggregated installed capacity of 590 KLPD as of FY22, when TBL Unit 1, TBL Unit 2 and TBL Unit 3 were not part of the company.
The company’s revenue from operations increased by 55.94% YoY to Rs 19,077.24 million in FY25, primarily due to increases in sale of finished goods. Moreover, the company’s PAT for FY25 was Rs 1,466.39 million in FY25 compared to Rs 318.08 million in FY24. The company’s ROE and ROCE in FY25 was 28.27% and 10.88%.
Objects of the issue:
- Funding CAPEX towards setting up multi feed stock- INR 1506.8 million
- Funding working capital requirements- INR 4250 million
- General Corporate Purposes
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