changeadminIndia’s leading biofuels producer, TruAlt Bioenergy, made its debut on Indian stock markets on Friday, October 3. Shares of the company made a positive debut, trading at a 10% premium over the issue price of ₹496 per share.
Founded in 2021 and headquartered in Bangalore, TruAlt Bioenergy is a diversified player in the Indian biofuels industry, recognised primarily for its leadership in ethanol production based on installed capacity.
Trualt Bioenergy IPO of ₹839.28 crores, included fresh issue of ₹750.00 crores and offer for sale aggregating to ₹89.28 crores. The company plans to use IPO proceeds to support its expansion into advanced biofuels, green hydrogen, capital investments, and working capital needs.
The company’s products include first-generation ethanol, fermented organic manure, and compressed biogas (CBG). At the same time, it has plans for second-generation (2G) ethanol, as well as sustainable aviation fuel, green hydrogen, and biofuel dispensing stations.
Ethanol is primarily produced from sugarcane, molasses, maize, surplus food grains, and agricultural residues, thereby providing additional income to farmers by using surplus harvest and agro-waste for ethanol production.
TruAlt holds the highest market share for ethanol production capacity in India, actively serving the growing demand under government blending mandates and clean energy policies, such as the Ethanol Blended Petrol initiative. The company operates five distillery units in Karnataka, with an aggregate installed capacity of 2,000 kiloliters per day.
As the world’s third-largest energy consumer, India’s Ethanol Blended Petrol initiative is a flagship program aimed at reducing the country’s dependency on imported crude oil by blending ethanol into petrol and boosting farmers’ income.
The Ethanol-Blended Petrol initiative has gained significant traction over the last decade. In 2014, ethanol blending was at a mere 1.53%, which increased to 10% by 2022.
Over the last ten years, ethanol blending in petrol has resulted in approximate savings of more than Rs. 1,08,655 crores ($12 billion+) in foreign exchange and the payment of approximately Rs. 92,409 crores ($10 billion+) to farmers.
The Indian government is also working actively with oil marketing companies, airlines, and technology partners to develop and scale up sustainable aviation fuel.
Factors like these make Bengaluru-based TruAlt Bioenergy a significant player in India’s green transition, alongside its competitor, Pune-based Praj Industries.
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