Punjab Carbonic Launches IPO for CO2 Recovery and Ethanol Expansion

Punjab Carbonic has filed a Draft Red Herring Prospectus with SEBI to launch an IPO, offering 95 lakh equity shares priced at ₹10 each. The issuance includes 60 lakh new shares and 35 lakh shares from existing investors.

Proceeds will fund the establishment of CO2 recovery units in Andhra Pradesh, investment in its subsidiary for ethanol expansion, and enhance logistics through the purchase of CO2 tankers. Funds will also address outstanding debt and support general corporate needs.

Beeline Capital Advisors is the Book Running Lead Manager, with KFin Technologies as the offer's Registrar. This strategic move highlights the company's commitment to advancing carbon capture technology and expanding its renewable energy footprint.