- Home
- News
- Articles+
- Aerospace
- Agriculture
- Alternate Dispute Resolution
- Banking and Finance
- Bankruptcy
- Book Review
- Bribery & Corruption
- Commercial Litigation
- Competition Law
- Conference Reports
- Consumer Products
- Contract
- Corporate Governance
- Corporate Law
- Covid-19
- Cryptocurrency
- Cybersecurity
- Data Protection
- Defence
- Digital Economy
- E-commerce
- Employment Law
- Energy and Natural Resources
- Entertainment and Sports Law
- Environmental Law
- FDI
- Food and Beverage
- Health Care
- IBC Diaries
- Insurance Law
- Intellectual Property
- International Law
- Know the Law
- Labour Laws
- Litigation
- Litigation Funding
- Manufacturing
- Mergers & Acquisitions
- NFTs
- Privacy
- Private Equity
- Project Finance
- Real Estate
- Risk and Compliance
- Technology Media and Telecom
- Tributes
- Zoom In
- Take On Board
- In Focus
- Law & Policy and Regulation
- IP & Tech Era
- Viewpoint
- Arbitration & Mediation
- Tax
- Student Corner
- ESG
- Gaming
- Inclusion & Diversity
- Law Firms
- In-House
- Rankings
- E-Magazine
- Legal Era TV
- Events
- News
- Articles
- Aerospace
- Agriculture
- Alternate Dispute Resolution
- Banking and Finance
- Bankruptcy
- Book Review
- Bribery & Corruption
- Commercial Litigation
- Competition Law
- Conference Reports
- Consumer Products
- Contract
- Corporate Governance
- Corporate Law
- Covid-19
- Cryptocurrency
- Cybersecurity
- Data Protection
- Defence
- Digital Economy
- E-commerce
- Employment Law
- Energy and Natural Resources
- Entertainment and Sports Law
- Environmental Law
- FDI
- Food and Beverage
- Health Care
- IBC Diaries
- Insurance Law
- Intellectual Property
- International Law
- Know the Law
- Labour Laws
- Litigation
- Litigation Funding
- Manufacturing
- Mergers & Acquisitions
- NFTs
- Privacy
- Private Equity
- Project Finance
- Real Estate
- Risk and Compliance
- Technology Media and Telecom
- Tributes
- Zoom In
- Take On Board
- In Focus
- Law & Policy and Regulation
- IP & Tech Era
- Viewpoint
- Arbitration & Mediation
- Tax
- Student Corner
- ESG
- Gaming
- Inclusion & Diversity
- Law Firms
- In-House
- Rankings
- E-Magazine
- Legal Era TV
- Events
Khaitan & Co Advised TruAlt Bioenergy On Proposed IPO Of Equity Shares
![Thomas-George Thomas-George](https://www.legaleraonline.com/h-upload/2024/08/26/1343024-thomas-george.webp)
Khaitan & Co Advised TruAlt Bioenergy On Proposed IPO Of Equity Shares
Khaitan & Co acted as Indian legal counsel to TruAlt Bioenergy Ltd in its proposed initial public offering (IPO), which includes a fresh issue of equity shares and an offer for sale by the selling shareholders.
Bengaluru-based TruAlt Bioenergy Ltd is a prominent producer of biofuel in India, is among the first to utilize the CBG program under the Sustainable Alternative Towards Affordable Transportation (SATAT) initiative.
The IPO comprises shares with a face value of ₹10 each, including a fresh issuance of ₹750 crores and an offer for sale of up to 36 lakh equity shares by the promoter group selling shareholders. The offer for sale includes a maximum of 18 lakh equity shares by Dhraksayani Sangamesh Nirani and up to 18 lakh equity shares by Sangamesh Rudrappa Nirani.
The funds raised from the new offering, amounting to ₹172.68 crores, will be used to finance capital expenses for establishing multi-feed stock operations. This will enable the utilization of grains as an additional raw material in the ethanol plant at TBL Unit 4, which has a capacity of 300 kilolitres per day (KLPD). Additionally, ₹425 crores will be allocated to meet working capital needs and for general corporate purposes.
The deal team at Khaitan & Co included Partner Thomas George, Counsel Nagashayana Srinivasaiah, and Associates Jash Botadra, Pooja Agarwal, and Tharun Vadlapatla.
Click to know more about Khaitan & Co