Punjab Carbonic, Sadbhav Futuretech, Bvishal Oil and Energy File Draft IPO Papers with SEBI
Punjab Carbonic, Sadbhav Futuretech, and Bvishal Oil and Energy File Draft Red Herring Prospectus for Initial Public Offerings
Punjab Carbonic, a leading company in carbon capture and utilization along with industrial gas solutions, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The company plans to offer 95 lakh equity shares priced at ₹10 each.
The Punjab Carbonic IPO consists of a fresh issuance of 60 lakh equity shares and a sale of 35 lakh shares from current investors. The company intends to allocate the funds raised from this offering to establish two CO2 recovery facilities with capacities of 120 MTPD and 90 MTPD located in Nellore and Peddapuram in Andhra Pradesh. Additionally, the company plans to purchase CO2 transportation tankers to enhance its current logistics infrastructure and invest in its subsidiary, Pancarbo Greenfuels, to increase the capacity of the Ethanol Distillery by 35 KLPD at Lehri in Punjab. Moreover, it will address outstanding debts and allocate some resources for general corporate purposes.
The book running lead manager for the offer is Beeline Capital Advisors, and KFin Technologies will serve as the registrar for the offer.
Comparison of IPO Details
| Company | IPO Size | Share Price | Allocation of Funds |
|---|---|---|---|
| Punjab Carbonic | 95 lakh shares | ₹10 each | Establishing CO2 recovery facilities, purchasing CO2 transportation tankers, investing in subsidiary, addressing outstanding debts, and general corporate purposes |
| Sadbhav Futuretech | Up to 2.55 crore shares | Meeting working capital needs and general corporate purposes | |
| Bvishal Oil and Energy | 1.8 crore shares | Capital expenditures, working capital needs, and general corporate purposes |
Sadbhav Futuretech, an EPC player in solar power projects, is launching an IPO that includes a fresh issuance of up to 2.55 crore equity shares along with an offer for sale (OFS) valued at ₹235 crore from selling shareholders, as detailed in the DRHP submitted to Sebi. Promoters Saikat Roy, Bhupender Singh, Bettericon Consultancy, Neelam Jain, and several other individuals and entities will be liquidating shares in the OFS.
The funds from the new share issue will be allocated for meeting its working capital needs and for general corporate purposes. Beeline Capital Advisors is serving as the exclusive book-running lead manager (BRLM) for the offering.
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Bvishal Oil and Energy IPO includes a new issuance of 1.8 crore shares, along with a sale of 77.09 lakh shares, as outlined in the Draft Red Herring Prospectus (DRHP) submitted on Tuesday. The company based in Gujarat intends to allocate funds raised from the new share issuance for both capital expenditures and working capital needs.
From the fresh shares, ₹120.9 crore is designated for purchasing machinery and equipment to enhance and bolster operational capacities, approximately ₹45 crore will be set aside for working capital, and a portion will be directed toward general corporate purposes. Unistone Capital serves as the exclusive book-running lead manager for the offering.
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