Upcoming IPO: Punjab Carbonic Filed DRHP with SEBI

Punjab Carbonic Limited, an integrated player in carbon capture, utilisation, and industrial gas solutions, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise funds via initial public offering (IPO).

The proposed initial public offering (IPO) consists of up to 95,00,000 equity shares with a face value of ₹10 each. This includes a fresh issue of up to 60,00,000 shares and an offer for sale (OFS) of up to 35,00,000 shares by existing shareholders.

Beeline Capital Advisors Private Limited has been appointed as the Book Running Lead Manager for the issue, while KFin Technologies Limited will act as the registrar.

Use of IPO Proceeds

The company intends to deploy the IPO proceeds across multiple strategic initiatives. A key focus area is the establishment of two CO₂ recovery units in Andhra Pradesh with planned capacities of 120 MTPD and 90 MTPD, respectively.

Additionally, funds will be used to strengthen its logistics capabilities through the procurement of CO₂ transportation tankers. Punjab Carbonic also plans to invest in its material subsidiary, Pancarbo Greenfuels Private Limited.

Further allocation includes capital expenditure for expanding its ethanol distillery in Village Lehri, Punjab, which will increase production capacity by 35 KLPD. The proceeds will also support partial or full repayment of existing debt and meet general corporate requirements.

About Punjab Carbonic Limited

Punjab Carbonic Limited is involved in the production, recovery, supply, and distribution of liquid carbon dioxide (CO₂) and dry ice. It also specialises in designing and implementing CO₂ recovery and purification infrastructure, backed by more than 30 years of industry experience.

The company’s business model focuses on capturing unavoidable CO₂ emissions, primarily from fermentation processes, and converting them into high-purity, commercially viable products. This approach supports the development of a circular carbon economy.

Punjab Carbonic operates its CO₂ recovery units through a mix of build-own-operate (BOO) and asset-light models. Its nationwide distribution network is supported by a fleet of 55 company-owned CO₂ transportation tankers.

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