This ethanol company is preparing to bring an IPO!!!

Amidst the ongoing excitement in the IPO market, now an ethanol company is preparing to enter the market. It is being told that Karnataka-based ethanol manufacturing company TruAlt Bioenergy can enter the market with an IPO of thousand crores. The company can soon submit the draft of its proposed IPO to SEBI.

They were made the bankers of the IPO

According to a report by ET, TruAlt Bioenergy has appointed DAM capital and sbi capital as bankers of the proposed IPO as part of its preparations for the IPO. The company is looking to issue fresh shares in the IPO. Along with that, some of the existing shareholders of the company can try to reduce their stake by selling their share in the IPO. That is, this IPO can also include an offer for sale along with the fresh issue of shares.

This much was the revenue in the last financial year

TruAlt Bioenergy is an ethanol manufacturing company based in Bengaluru, Karnataka. The company's business has grown rapidly in recent years. According to Acuite Ratings & Research, the company's revenue reached Rs 1,225 crore in the last financial year ended march 31, 2024, which was just Rs 768 crore a year ago. That is, the company's revenue has increased by about 60 percent in a year.

The company made such progress in one and a half years

It has not been long since the company started its operations. TruAlt Bioenergy was established in march 2021 after the National Biofuels Policy was formulated and it started its operations in october 2022. Meaning the company has achieved a sales target of more than thousand crores rupees in about one and a half years. The company is running three plants in Karnataka, which have a combined capacity to produce 20 lakh liters of ethanol per day.