TruAlt Bioenergy, Jinkushal: 2 IPOs to list today; check latest GMP before market debut

Two new companies- TruAlt Bioenergy and Jinkushal Industries- are set to make their Dalal Street debut on Friday, October 03 and both the companies are likely to deliver positive returns for the investors, if one goes by the latest grey market premium (GMP) signals for the issues. Both the issues were open for bidding between September 25-29 and will be listed on both BSE and NSE.
 

TruAlt Bioenergy
Shares of TruAlt Bioenergy are likely to deliver a listing pop of 18-19 per cent for the investors considering its latest grey market premium of Rs 90-95 per share. However, the grey market premium stood around Rs 110-115 per share, when the issue was running for the bidding.

The IPO of TruAlt Bioenergy was sold in the price band of Rs 472-496 per share with a lot size of 30 shares. The company raised a total of Rs 839.28 crore from its IPO, which included a fresh share sale of Rs 750 crore and offer-for-sale (OFS) of up to 18 lakh equity shares worth Rs 89.28 crore. The issue was overall subscribed 71.92 times, attracting bids worth more than Rs 44,000 crore.

Incorporated in 2021, Karnataka-based TruAlt Bioenergy is engaged in the production of biofuels, with a primary focus on the ethanol sector. SBI Capital Markets and DAM Capital Advisors were the book running lead managers for TruAlt Bioenergy IPO, while Bigshare Services was the registrar of the issue.
 

Jinkushal Industries
The grey market premium (GMP) of Jinkushal Industries has remained stable throughout the bidding cycle despite volatile market sentiments. Last heard, the company was commanding a premium of Rs 20 per share in the unofficial market, suggesting a listing pop of 16-17 per cent for the investors.

The IPO of Jinkushal Industries was sold at the price band of Rs 115-121 per share with a lot size of 120 shares. It raised a total of Rs 116.16 crore from its IPO, which included a fresh share sale of Rs 104.54 crore and offer-for-sale (OFS) of up to 9,59,548 shares worth Rs 11.61 crore. The issue was overall booked65.10 times, attracting 12.24 lakh applications and bids worth Rs 5,300 crore.

Founded in November 2007, Raipur-based Jinkushal Industries is an export trading company supplying construction machinery globally. GYR Capital Advisors was the sole book running lead manager for Jinkushal Industries and Bigshare Services was appointed as the registrar of the issue.