Punjab Carbonic files IPO to raise funds for CO2 recovery units, logistics and ethanol expansion as it plans listing on NSE and BSE, says DRHP filing.

Punjab Carbonic files IPO to fund CO2 recovery and ethanol expansion

Punjab Carbonic, an integrated carbon capture and utilisation and industrial gas solutions company, has filed a Draft Red Herring Prospectus with SEBI to raise fresh capital through an initial public offering.

The company will offer 95 lakh equity shares of ₹10 each. The IPO comprises a fresh equity issuance of 60 lakh equity shares and an offer for sale of 35 lakh shares by existing investors. The company will list on both NSE and BSE.

Planned utilisation of IPO proceeds

The company will use the proceeds from the issue for setting up two CO2 recovery units of 120 MTPD and 90 MTPD at Nellore and Peddapuram, both in Andhra Pradesh and buy CO2 transportation tankers to strengthen its existing logistic infrastructure, besides investment in its subsidiary Pancarbo Greenfuels for expanding the existing Ethanol Distillery by 35 KLPD (kilo litres per day) at Lehri in Punjab. It will also repay outstanding borrowings and use funds for general corporate purposes.

Beeline Capital Advisors has been appointed as the Book Running Lead Manager, while KFin Technologies will act as the Registrar to the offer.

Published on April 2, 2026