DAM Capital and SBI Cap have been appointed as the bankers for the IPO, which will include both fresh issuance and an offer for sale from existing shareholders, said one of the persons, who did not wish to be identified.TruAlt Bioenergy did not respond to ET's queries till press time.
The company earned a revenue of INR 1,225 crore in FY24, up from INR 768 crore in FY23, according to Acuite Ratings & Research. The tangible net worth of the company was INR 483 crore as of March 31, as against INR 374 crore a year ago.
Founded in March 2021 in response to the National Biofuels Policy, TruAlt Bioenergy commenced operations in October 2022. The company operates distilleries and compressed biogas units without attached sugar manufacturing facilities. Currently, it runs three molasses and sugar syrup-based distillery units in Karnataka.with a combined ethanol production capacity of two million litres per day.
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