Intimation under regulation 30 read with Schedule III Part A Para A (1) of SEBI LODR Regulations, 2015- Acquisition
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Saraswati Commercial (India) Ltd, an NBFC, has applied for 18,10,500 equity shares of Trualt Bioenergy Ltd at Rs. 496 per share under the QIB (Qualified Institutional Buyer) segment of Trualt's IPO, totaling Rs. 89.80 crore. Trualt Bioenergy is an ethanol and compressed biogas company with a turnover of Rs. 1,968.53 crore in FY25 and net worth of Rs. 769 crore. The Trualt IPO issue size is Rs. 839.28 crore. Due to likely oversubscription, Saraswati expects its final allotment to fall below the 2% of net worth disclosure threshold, but is filing this as good governance. Allotment is expected on 30 September 2025.
This is a portfolio investment by Saraswati as a financial investor, not a strategic acquisition, and falls within its normal NBFC business of investing in shares and securities. Shareholders should note deployment of roughly Rs. 90 crore into a single IPO; final allotment may be lower due to oversubscription, reducing actual cash outflow.