Punjab Carbonic Ltd IPO

We are 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, including the design and execution of CO2 recovery and refining infrastructure. With over three decades of operating history, our business model is anchored in converting unavoidable fermentation-based CO2 emissions into high-purity, commercially valuable products, thereby supporting a circular carbon economy. We, along with our wholly-owned Subsidiary Punjab Fusion Private Limited (“PFPL”), are engaged in the production, supply and distribution of CO2 and dry ice, along with the supply and setting up of CO2 recovery unit (“CRU”) within distilleries. We produce high purity liquid CO2, meeting the International Society for Beverage Technologists (“ISBT”) standards. With an annual installed capacity of 259,200 metric tonne as of March 31, 2025, we cater to a wide range of industries, including food and beverages (“F&B”), automobiles, chemicals and fertilizers, healthcare & pharma and aviation, with established presence across North, South, West and Central India. In addition, we have also commenced ethanol manufacturing operations viz, the manufacture and sale of fuel-grade ethanol through our Subsidiary, Pancarbo Greenfuels Private Limited (“PGPL”).