TruAlt Bioenergy shares list at 11% premium over IPO price
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TruAlt Bioenergy shares listed on the bourses on October 3 with a premium of 10.89%. After closing as one of the most sought-after issues of the year, the stock debuted at Rs 550 on BSE and Rs 545.40 (9.96%) on NSE, compared to the offer price of Rs 496. Strong response from investors The Rs 839.28 crore IPO, which opened on September 25 and closed on September 29, witnessed massive demand across categories. The issue was subscribed 75 times overall, led by institutional investors. The qualified institutional buyer (QIB) portion was subscribed over 165 times, non-institutional investors (NIIs) 103 times, and the retail segment 11.5 times. Anchor investors had already contributed Rs 251.78 crore a day before the issue opened. The offering comprised a fresh issue of Rs 750 crore and an offer for sale of Rs 89.28 crore. Proceeds will be used to set up grain-based ethanol capacity at one of its Karnataka units, support working capital, and fu...