IPO GMP Today: TruAlt Bioenergy Booked 70%; Strong Interest Among Retail, Anchor Investors: Should You Bid?

IPO GMP Today: The initial public offering (IPO) of TruAlt Bioenergy is receiving strong interest among investors, especially anchor and retail investors. The biofuel producer's IPO has been subscribed around 72% so far, according to Chittorgarh.com.

IPO GMP Today: TruAlt Bioenergy

TrueAlt Bioenergy's IPO GMP (grey market premium) remained stable on Friday, two days after witnessing a sharp jump in the grey market. The company IPO GMP stood at Rs 80, hence the stock is expected to be listed at a price of Rs 576 per share (which is the addition of IPO GMP today and the upper price band). The IPO is expected to see a percentage gain or loss per share of 16.13%.

TruAlt Bioenergy IPO Subscription Status Day 2

TrueAlt Bioenergy IPO has been subscribed around 72% so far, which includes 100% subscription in the anchor investor category. The IPO has been booked around 67% in the retail investor category, 90% in the qualified institutional buyers (QIB ex-anchor), 61% in the non-institutional buyers, 43% in the bNII category, and 97% in the sNII category.

TruAlt Bioenergy IPO Subscription Details

TruAlt Bioenergy IPO is a book build issue of Rs 839.28 crores. The IPO opened for subscription on Thursday, September 25 and will conclude on Monday, September 29. The IPO is a combination of fresh issue of 1.51 crore shares aggregating to Rs 750 crore. It also brings an offer for sale of 0.18 crore, equivalent to Rs 89.28 crores.t

The IPO is expected to be listed on BSE and NSE on October 3. The company has fixed a price band at Rs 472 to Rs 496 per shar. The lot size of the IPO is 30. The minimum amount of investment by retail investors is 30 shares, which is equivalent to Rs 14,880. For sNII, the lot size investment is 14 lots, equivalent to Rs 2,08,320.

TruAlt Bioenergy IPO: Should You Subscribe?

Being one of India's largest ethanol producer in terms of installed capacity, the company has the potential to do well in the sustainable aviation fuel supply. It has also reported strong revenue in financial years 2022, 23, and 25.

"TBL will also focus on expanding its CBG capabilities and venturing into sustainable aviation fuel supply. The company has reported strong Revenue/EBITDA/PAT CAGR of ~58%/72%/103% respectively between FY22-25. At the upper price band of Rs 496, the company is valued at FY25 PE multiple of 29.0x based on post issue capital," stated SBI Securities in its IPO Note. Reliance Securities and Canara Bank have recommended investors to 'Subscribe' to the Issue for long-term.

Disclaimer: The views and recommendations expressed are solely those of the individual analysts or entities and do not reflect the views of Goodreturns.in or Greynium Information Technologies Private Limited (together referred as "we"). We do not guarantee, endorse or take responsibility for the accuracy, completeness or reliability of any content, nor do we provide any investment advice or solicit the purchase or sale of securities. All information is provided for informational and educational purposes only and should be independently verified from licensed financial advisors before making any investment decisions.