Cyril Amarchand Mangaldas advised the lead managers, DAM Capital Advisors Limited and SBI Capital Markets Limited, in connection with the IPO of TruAlt Bioenergy Limited (Formerly known as TruAlt Energy Limited). TruAlt is one of India’s largest ethanol producers in India based on installed capacity. The initial public offer of 1,69,20,967 Equity Shares of face value of ₹10 each for cash at a price of ₹496 each aggregating to ₹83,928.00 lakhs, comprised of a Fresh Issue of 1,51,20,967 Equity Shares of face value of ₹10 each aggregating to ₹75,000.00 lakhs and an Offer for Sale of 18,00,000 Equity Shares of face value of ₹10 each aggregating to ₹8,928.00 lakhs by the Promoter Group Selling Shareholders. The equity shares were listed on the stock exchanges on October 3, 2025 at an Issue Price of ₹550 at a premium of 10.88% .
The public issue was subscribed 52.93 times in total, 11.67 times in the retail category and 164.68 times in the Qualified Institutional Buyers (QIB) category. The Non-Institutional Investors (NII) segments with bids of between ₹2 to ₹10 lakhs and above ₹10 lakhs were subscribed 119.37 and 72.94 times respectively.
The transaction team advising the Company was led by Manshoor Nazki, Partner (Regional Co-Head – Capital Markets – South); with assistance from Anjali Menon, Principal Associate; Sachin Santuka, Senior Associate; and Bhaskar Kumar, Associate; Sakshi Sharma, Associate; Megha Rajesh, Associate; Nimisha Sharma, Associate; Prakhar Jain, Associate; Parameswaran Chidamparam, Associate; and Mohnish Khandale, Trainee Legal.
