TruAlt Bioenergy Limited, incorporated in March 2021 and rebranded in July 2022, is India's largest ethanol producer by installed capacity, with a production capability of 1,400 kiloliters per day (KLPD) as of March 2024. Focusing on ethanol production, the company also generates and sells by-products like extra neutral alcohol (ENA), dry ice, and liquid carbon dioxide, which stem from its manufacturing processes.
The company’s significant growth is attributed to the acquisition of businesses from entities like MRN Cane Power India Limited and Nirani Sugars Limited in October 2022, enabling TruAlt to engage in the full spectrum of manufacturing, selling, and distribution of ethanol and related products. Major capacity expansions include increasing TBL Unit 2's capacity from 240 KLPD to 500 KLPD in 2022 and TBL Unit 1's capacity from 150 KLPD to 700 KLPD in 2023. Additionally, the subsidiary Leafiniti Bioenergy Private Limited became a wholly-owned entity under TruAlt in FY 2023-24, consolidating its position in the bioenergy segment.
Positioned as a major player in India's growing bioenergy market, the company plans to raise Rs. 750 crore through an Initial Public Offering (IPO). The proceeds will comprise a fresh issue of equity shares and an offer for sale of up to 3.6 million equity shares, aimed at funding growth and further strengthening its market presence.
With a focus on clean energy solutions, a robust operational history, and plans to leverage rising demand for ethanol, TruAlt Bioenergy Limited presents itself as a dynamic player in India's energy transition.
