India’s leading ethanol producer, TruAlt Bio Energy (TruAlt), will raise ₹750 crore of primary capital from the IPO that closes on Monday. A large part of funds will go towards working capital funding (₹422 crore), while ₹172 crore will go towards converting its Ethanol Unit-4 (currently molasses and sugar juice based) into a dual feed plant and ₹156 crore for general corporate purposes. Promoters will sell stake worth ₹89 crore in the IPO, post which their stake will reduce by 17.6 per cent to 70.6 per cen ...