TruAlt Bioenergy Eyes Growth Beyond Ethanol With IPO Proceeds

BTTV’s Aastha Chopra spoke with Vijay Nirani, MD of TruAlt Bioenergy, as the company launched its IPO. He said proceeds will fund ₹425–450 crore working capital and ₹172 crore capex to convert one ethanol unit into a dual-feed plant. TruAlt has 2,000 KLPD ethanol capacity, now fully commissioned, with approvals for up to 5,100 KLPD. Nirani stressed ethanol’s role in reducing India’s 80% crude and 60–65% gas imports. He noted raw materials fluctuate 20–25% annually, and IPO funds will help stock grains at low harvest prices. TruAlt is also scaling into compressed biogas (CBG) through JVs with Sumitomo (4×20 TPD) and GAIL (6×12 TPD), and preparing one of the world’s largest SAF plants, aligned with India’s blending target of 1% by 2027, 5% by 2030. Despite being only three years old, the company has grown 50–55% annually and aims to sustain momentum with a strong circular economy model.