Cyril Amarchand Mangaldas advised the lead managers, DAM Capital Advisors Limited and SBI Capital Markets Limited, in connection with the IPO of TruAlt Bioenergy Limited
The leading law firm in India, Cyril Amarchand Mangaldas, advised the lead managers, DAM Capital Advisors Limited and SBI Capital Markets Limited, in connection with the initial public offering of TruAlt Bioenergy Limited (formerly TruAlt Energy Limited), one of India’s largest ethanol producers based on installed capacity.
The IPO comprised 1,69,20,967 Equity Shares of face value of ₹10 each for cash at a price of ₹496 per share aggregating to ₹83,928.00 lakhs. This included a Fresh Issue of 1,51,20,967 Equity Shares aggregating to ₹75,000.00 lakhs and an Offer for Sale of 18,00,000 Equity Shares aggregating to ₹8,928.00 lakhs by the Promoter Group Selling Shareholders. The equity shares were listed on stock exchanges on October 3, 2025, at an issue price of ₹550 per share, at a premium of 10.88%. The public issue was subscribed 52.93 times overall, 11.67 times in the retail category, 164.68 times in the Qualified Institutional Buyers (QIB) category, and 119.37 and 72.94 times in the Non-Institutional Investors (NII) segments with bids between ₹2 to ₹10 lakhs and above ₹10 lakhs, respectively.
The Cyril Amarchand Mangaldas 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), Bhaskar Kumar (Associate), Sakshi Sharma (Associate), Megha Rajesh (Associate), Nimisha Sharma (Associate), Prakhar Jain (Associate), Parameswaran Chidamparam (Associate), and Mohnish Khandale (Trainee Legal).
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