TruAlt Bioenergy to launch IPO in September 2025
In November 2024, the Securities and Exchange Board of India (SEBI) cleared TruAlt proposal for a Rs 1,000 crore IPO.
Bengaluru-based biofuels company TruAlt Bioenergy is preparing to make its stock market debut very soon. It’s much-anticipated Initial Public Offering (IPO) likely to be launched by the end of September 2025.
TruAlt Bioenergy has confirmed that the final IPO size could be revised in the updated Draft Red Herring Prospectus (DRHP). Earlier, in November 2024, the Securities and Exchange Board of India (SEBI) cleared TruAlt proposal for a Rs 1,000 crore IPO.
The global market volatility, sluggish growth and uncertainty over tariff policies of the USA led the firm to delay investor roadshows.
Vijay Nirani, Founder and Managing Director of TruAlt Bioenergy said that his company had resumed the roadshows in July 2025 and are confident of completing the IPO process by September.
Currently, external investors hold 11.8% equity, while the remainder lies with the Promoter and Promoter Group. Following the IPO, this outsider stake is expected to expand to 27–28%, depending on the final valuation.
TruAlt is already recognized as one of India’s largest biofuels producers, with a leadership position in ethanol production by installed capacity.
Strengthening its portfolio, the company recently entered into a strategic partnership with GAIL, under which the state-run Maharatna firm will acquire a 49% stake in TruAlt’s CBG subsidiary, Leafiniti Bioenergy. The joint venture plans to establish six modern greenfield CBG plants, each with a capacity of 12 TPD, leveraging by-products from sugar mills.
TruAlt has also signed an MoU with Sumitomo Corporation Asia & Oceania (SCAO) to focus on CBG, ethanol, sustainable aviation fuel (SAF) and biochemicals. Last year, the company announced plans to establish one of the world’s largest sustainable aviation fuel (SAF) plants in India.
