TruAlt Bioenergy IPO Oversubscribed 317% on Final Day; IPO GMP Surges 22%; Should Investors Bet on This IPO?

On the final day of bidding, the TruAlt Bioenergy IPO is seeing high demand from investors across categories as it nears the close of its subscription period. So far today, i.e., the 3rd day of the subscription, the IPO has been oversubscribed 3.17 times overall. In the grey market as well, the TruAlt IPO GMP has surged 22%, currently trading at Rs. 109, with high listing expectations.

TruAlt Bioenergy IPO Details

TruAlt Bioenergy has launched a book-built IPO worth Rs. 839.28 crore, comprising both a fresh issue and an offer-for-sale. The IPO opened for subscription last week on September 25th, and will close on September 29th. The allotment is expected to be finalised on September 30 with a tentative listing on BSE and NSE on October 3rd. The price band for the IPO is set at Rs. 472 - Rs. 496 per share.

Ahead of the subscription, TruAlt Bioenergy successfully raised Rs. 251.78 crore from anchor investors on September 24th.

TruAlt Bioenergy IPO Performance in the Grey Market

As of the current update from the Investorgain website on September 29, 2025, at 9:59 AM, the latest TruAlt Bioenergy IPO GMP is Rs. 109. If we consider the upper price band of Rs. 496, the estimated listing price is projected at Rs. 605 per share, implying an expected gain of 21.98% on listing day.

IPO Subscription Status

According to BSE data, as of 10:49 AM today, the TruAlt Bioenergy IPO is oversubscribed 3.17 times overall, whereas the retail investors subscribed 2.13 times, and the QIBs & the NIIs held the bidding at 0.93 times & 8.56 times, respectively.

Analyst View on the IPO

8 out of 11 broking firms are positive on this issue and have given a SUBSCRIBE rating to the IPO.

Reliance Securities, in its IPO note, stated, "While the bioenergy sector in India offers promising growth prospects, it is essential for companies like TruAlt Bioenergy Ltd to navigate the associated risks through strategic planning, technological innovation, and proactive policy engagement. With its diversified product portfolio, strategic partnerships, and robust financial performance, the company is well-positioned to capitalise on India's growing demand for sustainable energy solutions. By addressing these challenges, the company can capitalise on the expanding market opportunities and contribute to India's sustainable energy future. Owing to such developments, we recommend subscribing."

About TruAlt Bioenergy

Incorporated in 2021, TruAlt Bioenergy Ltd is one of India's leading biofuel producers, primarily focused on ethanol production. Strategically positioned in the growing Indian biofuels industry, TruAlt Bioenergy is recognised as a diversified and prominent player, catering to both domestic demand and future growth opportunities.

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