Punjab Carbonic IPO Details

Punjab Carbonic Ltd. has filed a Draft Red Herring Prospectus (DRHP) with SEBI on March 31, 2026 to raise funds through Initial Public Offer (IPO). Punjab Carbonic Ltd. IPO is a Book Build Issue of 0.95 crore equity shares consisting of a fresh issue of upto 0.60 crore equity shares and an offer for sale (OFS) of upto 0.35 crore equity shares.

IPO Details

IPO Date 15 May 26
Listing Date 06 May 26
Face Value ₹10 per share
Price Band
Lot Size
Sale Type Fresh capital cum OFS
Issue Type Bookbuilding IPO
Listing At NSE, BSE
Total Issue Size 95,00,000 shares (agg. up to ₹[.] Cr)
Fresh Issue
60,00,000 shares (agg. up to ₹[.] Cr)
Offer for Sale
Share Holding Pre Issue 2,29,60,740 shares
Share Holding Post Issue 2,89,60,740 shares

IPO DRHP Status

Description Details
Filed with SEBI/Exchange Tue, Mar 31, 2026

IPO Reservation

Investor Category Shares Offered
QIB Shares Offered Not more than 50% of the Offer
Retail Shares Offered Not less than 35% of the Offer
NII Shares Offered Not less than 35% of the Offer

About Punjab Carbonic IPO.


Incorporated in 1992, Punjab Carbonic Limited is an integrated carbon capture and utilisation (CCU) and industrial gas solutions company engaged in the manufacturing, recovery, supply, and distribution of liquid carbon dioxide (CO₂) and dry ice. The company converts fermentation-based CO₂ emissions into high-purity products meeting International Society for Beverage Technologists (ISBT) standards, supporting a circular carbon economy. It also undertakes the design, installation, and operation of CO₂ recovery units (CRUs) within distilleries, along with its subsidiary Punjab Fusion Private Limited. As of March 31, 2025, the company has an installed capacity of 259,200 metric tonnes per annum and operates 17 CRUs across India under both build-own-operate and asset-light models. These operations are supported by a pan-India infrastructure network and a self-owned fleet of CO₂ transportation tankers. The company serves a wide range of industries including food & beverages, chemicals, fertilizers, automobiles, healthcare, and aviation, with presence across North, South, West, and Central India, covering over 23 states and union territories. It has also supplied products in international markets such as Sri Lanka, Nepal, Zambia, and Morocco. Additionally, through its subsidiary Pancarbo Greenfuels Private Limited, the company has entered ethanol manufacturing, producing and supplying fuel-grade ethanol. As of September 30, 2025, the company had 273 employees.

Company Financials (Restated)

Period Ended 30 Sep 2025 31 Mar 2025 31 Mar 2024
Assets 315.69 312.75 287.44
Total Income 281.62 490.30 137.91
Profit After Tax 26.19 26.21 6.35
EBITDA 37.25 48.23 17.36
Net Worth 156.59 168.98 161.06
Amount in ₹ Crore

IPO Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

# Issue Objects Est Amt (₹ Cr.)
1 Setting up of two CO2 recovery units (“CRUs”) at Nellore, Andhra Pradesh and Peddapuram, Andhra Pradesh, having installed capacity of 120 MTPD and 90 MTPD, respectively (“Proposed CRUs”) 19.66
2 Funding capital expenditure requirements of the Company towards purchase of CO2 transportation tankers to strengthen existing logistic infrastructure for CO2 vertical 11.15
3 Investment in the Material subsidiary, Pancarbo Greenfuels Private Limited (“PGPL”), for financing the capital expenditure requirement towards expansion of its existing Ethanol Distillery located at Village Lehri, Punjab by increasing its ethanol manufacturing capacity by 35 KLPD 40.61
4 Repayment and/or pre-payment, in full or part, of certain outstanding borrowings availed by the Company 8.50
5 General Corporate Purposes 0.00

Key Performance Indicator (KPI)

KPI Sep 30, 2025 Mar 31, 2025
ROE 32.74% 55.37%
ROCE -% -%
Debt/Equity - -
RoNW 37.76% 76.87%
PAT Margin -% -%
EBITDA Margin 13.33% 9.88%

Key Performance Indicator (KPI)

Pre IPO Post IPO
Promoter Holding % 99.47% -
EPS Rs - -
Davinder Singh Kohli, Amrit Paul Singh Kohli, Jatinder Kaur Kohli and Inder Pal Kaur Kohli are the company promoters.

IPO Registrar

  • Kfin Technologies Ltd.
  • 04067162222, 04079611000
  • punjabcarbonic.ipo@kfintech.com
  • Visit Website

Contact Details

Punjab Carbonic Ltd. Address
Khasra No. 112//4/2/1, Village Lehri, Talwandi Sabo, Bathinda Bhatinda, Punjab, 151302

IPO FAQs

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