In this article, we’ll cover everything you need to know about Trualt Bioenergy IPO GMP trend, issue details, company profile, financials, industry outlook, strengths, risks, and a clear verdict on whether you should apply.
India is decisively advancing towards clean and renewable energy, with ethanol firmly establishing itself as a vital fuel in this transition. The government’s ambitious target of 20% ethanol blending with petrol by 2025-26 is creating a massive market opportunity for biofuel companies. Capitalising on this momentum, Trualt Bioenergy Ltd. is ready to launch its Initial Public Offering (IPO).
The IPO has already generated strong buzz, with investors tracking the Grey Market Premium (GMP) to estimate possible listing gains. GMP is not official, but it does provide a sense of how the market perceives a company before its shares are listed on the stock exchange.
Trualt Bioenergy IPO GMP
| Date | GMP (Approx.) | Implied Listing Price |
|---|---|---|
| 26 Sept 2025 | ₹92 | ₹588 |
| 25 Sept 2025 | ₹80 | ₹576 |
| 24 Sept 2025 | ₹55 | ₹551 |
The GMP currently points to a moderate premium listing. If market conditions remain positive and subscription is strong, Trualt Bioenergy shares could list well above the issue price.
Trualt Bioenergy IPO Details
| Particulars | Details |
|---|---|
| IPO Price Band | ₹472 – ₹496 per share |
| Face Value | ₹10 |
| Total Issue Size | ₹839.28 crores |
| Fresh Issue | ₹750 crores |
| Offer for Sale (OFS) | ₹89.28 crores |
| Lot Size | 30 shares |
| Minimum Investment | ₹14,880 (at upper band) |
| IPO Opening Date | 25 September 2025 |
| IPO Closing Date | 29 September 2025 |
| Allotment Date (Tentative) | 30 September 2025 |
| Listing Date (Tentative) | 3 October 2025 |
The IPO is a combination of a fresh issue of ₹750 crores (for expansion and working capital) and an Offer for Sale worth ₹89.28 crores, where promoters will sell part of their holdings.
Also Read: Epack Prefab Technologies Ltd. IPO GMP Today
What is GMP and Why Investors Track It
The Grey Market Premium (GMP) is the unofficial price at which IPO shares are traded before they are officially listed. It is not regulated, but it gives a fair idea of market sentiment.
- If GMP is positive, it usually hints at listing gains.
- If GMP is negative or weak, it shows muted demand.
Still, investors should remember: GMP is only an indicator, not a guarantee. Final listing depends on subscription levels and market mood.
Trualt Bioenergy IPO GMP Today
As of 26 September 2025, Trualt Bioenerg IPO GMP is around ₹92 per share.
This means if you apply at the upper price band of ₹496, the stock could list around ₹588 per share — giving a premium of about 18%.
However, GMP can change quickly during the subscription period. A strong subscription from retail, HNI, and institutional investors could push it higher, while weak demand may drag it down.
About the Company
Trualt Bioenergy Ltd. is among the largest ethanol producers in India. Over the years, it has expanded its business from traditional ethanol into multiple renewable energy products.
Business Highlights
- Ethanol Production: Supplies ethanol for petrol blending programs.
- Multi-Feedstock Operations: Moving beyond sugarcane and molasses, the company plans to use grains and other raw materials for ethanol production.
- Compressed Biogas (CBG): Part of the government’s SATAT scheme to promote green fuel.
- Sustainable Aviation Fuel (SAF): Working on next-generation fuels for airlines.
- CO₂ Extraction: Captures and sells carbon dioxide as a by-product.
- Fuel Retail: Recently received OMC (Oil Marketing Company) status, which means Trualt can open its own petrol and fuel outlets — a big differentiator.
Use of IPO Funds
The money raised from the IPO will be used for:
- Setting up a multi-feedstock ethanol plant (₹150 crore approx).
- Meeting working capital needs (₹425 crore approx).
- General corporate purposes.
Financial Performance
Trualt Bioenergy has shown impressive growth in recent years.
- FY24 Revenue: ₹1,223.4 crore
- FY25 Revenue: ₹1,907.7 crore (Growth of 56%)
- FY24 Profit After Tax: ₹31.8 crore
- FY25 Profit After Tax: ₹146.6 crore (Growth of 361%)
- Earnings Per Share (EPS): ~₹20.94 (FY25)
- P/E Ratio at IPO Price: Around 19x
Such a sharp jump in revenue and profit makes the IPO attractive from a financial perspective. The valuation also looks reasonable compared to peers in the ethanol and sugar sector.
Industry Outlook
The biofuel and ethanol industry has strong growth visibility:
- India has targeted 20% ethanol blending by 2025-26.
- The government is actively promoting CBG projects and green fuel adoption.
- Demand for Sustainable Aviation Fuel (SAF) is rising globally.
- Rising fuel consumption ensures steady demand for ethanol and bio-based alternatives.
Overall, the industry is in a strong growth phase, and Trualt is well-positioned to benefit.
Risks and Challenges
- Volatility in raw material costs, such as grains and sugarcane.
- Execution risk in new multi-feedstock projects.
- Competition from established sugar and ethanol companies.
- Heavy reliance on government policies for ethanol and biofuels.
- Debt and working capital requirements are significant.
Should You Apply for Trualt Bioenergy IPO?
- For listing gains (short-term): The GMP of ₹80 suggests possible 15-20% listing profits. Investors looking for a quick return may consider applying, provided demand remains strong.
- For long-term investment: Trualt Bioenergy operates in a high-growth industry. Its diversification into ethanol, biogas, SAF, and retail fuel outlets makes it an interesting play on India’s renewable energy story. However, investors must be comfortable with risks like raw material price swings and policy dependence.
Verdict: A good IPO for those who believe in India’s green fuel future.
FAQ on Trualt Bioenergy IPO & GMP
Q1. What is the GMP of Trualt Bioenergy IPO today?
As of 26 September 2025, Trualt Bioenergy IPO GMP is ₹92 per share.
Q2. What is the price band?
The price band is ₹472 – ₹496 per share.
Q3. What are the IPO dates?
- Opens: 25 September 2025
- Closes: 29 September 2025
Q4. What is the lot size and minimum investment?
- Lot size: 30 shares
- Minimum investment: ₹14,880.
Q5. When is the allotment and listing date?
- Allotment: 30 September 2025 (Tentative)
- Listing: 3 October 2025 (Tentative).
Q6. How big is the IPO?
The total issue size is ₹839.28 crores.
Q7. Where will the funds be used?
Funds will be used for setting up a multi-feedstock ethanol plant, working capital, and general purposes.
Q8. Is it good for the long term?
Yes, for investors who want to participate in the growth of India’s renewable energy sector, Trualt offers strong potential.
Conclusion
The Trualt Bioenergy IPO is arriving at the right time when India is aggressively pushing for clean fuel adoption. With strong financial growth, diversification into ethanol, CBG, and SAF, and the unique advantage of being an OMC, the company has a lot going for it.
The current GMP of ₹92 suggests moderate listing gains, making it appealing to short-term investors. Long-term investors who believe in the green fuel story may also find it a promising bet, though risks like raw material volatility and government policy changes should be kept in mind.
In short, Trualt Bioenergy IPO looks like a mix of both listing opportunity and long-term growth potential.
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