TruAlt Bioenergy Limited has made an initial public offering of equity shares aggregating to ₹839.28 crore, comprising a fresh issue of equity shares aggregating to ₹750 crore, and an offer for sale of up to 36,00,000 equity shares aggregating to ₹89.28 crore by the Promoter group selling shareholders.
Khaitan & Co advised TruAlt Bioenergy on this IPO.
The transaction team consists of Thomas George (Partner), Nagashayana Srinivasaiah (Partner), Pooja Agarwal (Associate), Jash Botadra (Associate) and Anand Sivasankaran (Associate).
Cyril Amarchand Mangaldas advised the Book Running Lead Managers DAM Capital Advisors Limited and SBI Capital Markets Limited on this IPO.
The transaction team was led by Manshoor Nazki, Partner (Regional Co-Head - Capital Markets - South); with assistance from Anjali Menon, Principal Associate; Sachin Santuka, Senior Associate; Associates Bhaskar Kumar, Sakshi Sharma, Megha Rajesh, Nimisha Sharma, Prakhar Jain, Parameswaran Chidamparam; and Mohnish Khandale, Trainee Legal.
TruAlt Bioenergy is one of India's largest biofuels producers, strategically positioned as a prominent and diversified player in the Indian biofuels industry, primarily in the production of Ethanol. Their primary focus lies in producing biofuels such as 1G ethanol, Compressed Biogas (CBG), Fermented Organic Manure (FOM).
The IPO was oversubscribed by 74.50 times, with the retail investors’ portion being oversubscribed by 10.62 times, the QIB portion being oversubscribed by 165.15 times and the NII portion being oversubscribed by 102.67 times.
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