TruAlt Bioenergy shares make a decent market debut; stock lists at 11% premium

Shares of TruAlt Bioenergy made a decent stock market debut on Friday, October 03 as the biofuels and ethanol manufacturer settled at Rs 550 on BSE, a premium of 10.89 per cent over its issue price of Rs 496. Similarly, the stock kicked-off its maiden trading session with a discount of 9.96 per cent at Rs 545.40 on NSE.

As of the listing price, investors, who received a single lot of 30 equity shares, made a profit of Rs 1,620 on their investment of Rs 14,880. Similarly, HNI investors, who received 14 lots consisting of 420 equity shares, made a loss of Rs 22,680 on their investment of Rs 2,08,320.

Listing of TruAlt Bioenergy has much below the expectations. Ahead of its debut, TruAlt Bioenergy were commanding a grey market premium (GMP) of Rs 90-95 per shares in the unofficial market, suggesting a listing pop of 18-19 per cent for the investors. The grey market premium stood around Rs 105-110 per share, when the issue was run for bidding.

The IPO of TruAlt Bioenergy ran for bidding between September 25 and September 29, 2025. It had offered its shares 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 over 22.98 applications and bids worth more than Rs 44,000 crore. The portion for qualified institutional bidders (QIBs) was booked 158.22 times, while the quota for non-institutional investors (NIIs) was subscribed 98.56 times. The allocation for retail investors was subscribed 11 times.

Incorporated in 2021, Karnataka-based TruAlt Bioenergy 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 of 2,000 kilo litres per day (KLPD). Its business operations span across ethanol production and compressed biogas (CBG) production.

Brokerage firms were the largest positive on the issue, suggesting to subscribe to it for a long-term. SBI Capital Markets and DAM Capital Advisors  were the book running lead managers for TruAlt Bioenergy IPO, while Bigshare Services served as the registrar of the issue.