IPO: This company is going to do an IPO for a thousand crores and the share market will explode.

IPO: Karnataka-based ethanol company TrueAlt Bio is gearing up to join the IPO craze. It is said to be aiming to raise Rs 1000 crore through the IPO and is currently finalizing the documents to be submitted to SEBI. TrueAlt BioEnergy has wisely roped in DAM Capital and SBI Capital as its bankers for the IPO, which indicates their commitment to a successful launch in the market. This means that both new shares and existing shares will be available in the IPO. Bengaluru, Karnataka-based ethanol producer TruAlt BioEnergy has been doing well of late. Active Estimates and Research says their revenue grew 60% from Rs 768 crore to Rs 1,225 crore in the last financial year ended March 31, 2024. Also Read: Stocks unable to sustain early gains, Sensex-Nifty a new entrant It was established after the implementation of the National Biofuel Policy in March 2021 and became operational in October 2022. In one and a half years, the company has sold more than Rs.1000 crores. With three plants in Karnataka, TrueAlt BioEnergy can produce 20 lakh liters of ethanol daily. Their upcoming IPO, which may raise Rs 1000 crore, will be submitted to SEBI in the next 2-3 weeks. More information about the IPO will be released later in the month. Also Read: IPO: IPO of these companies along with Bajaj Housing Finance to enter the market soon, after the IPO, this company will bring a thousand crore IPO, A stock market explosion appeared first on Prabhat Khabar.