Company and subsidiary receive LOIs for 3,543 KL biodiesel supply over four-month period; additional orders expected soon.
17 Apr 2025 | 5203 Views | By Shruti Shiraguppi
Rajputana Biodiesel Limited and its subsidiary Nirvaanraj Energy Private Limited have secured Letters of Intent (LOIs) for the supply of 3,543 KL of biodiesel to Indian Oil Corporation Limited (IOCL) and Hindustan Petroleum Corporation Limited (HPCL). The orders, valued at approximately ₹30 crore, cover the period from April to July ...
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Rajputana Biodiesel Limited and its subsidiary Nirvaanraj Energy Private Limited have secured Letters of Intent (LOIs) for the supply of 3,543 KL of biodiesel to Indian Oil Corporation Limited (IOCL) and Hindustan Petroleum Corporation Limited (HPCL). The orders, valued at approximately ₹30 crore, cover the period from April to July 2025.
The LOIs follow a tender opened by Oil Marketing Companies (OMCs) on March 13, 2025, for a total bidding quantity of 2,00,000 KL of biodiesel. The tender, identified as EOI No. OMC/EOI/NUCO/BD/MAR25 (CYCLE1) with Tender ID 2025_MKTHO_184206_1, invited bids from suppliers across the country.
According to the company's disclosure to the National Stock Exchange, Rajputana Biodiesel expects to receive additional LOIs shortly. "Letters of Intent (LOIs) for remaining bid volumes of biodiesel supply are expected to be issued shortly, as the bid details for the supply of biodiesel by Rajputana Biodiesel Limited to IOCL and BPCL, and by Nirvaanraj Energy Private Limited to BPCL, are awaited and anticipated to be received soon," the company stated.
The orders will be executed after the company completes required formalities, including depositing bank guarantees, security deposits, and providing test certificates as stipulated in the EOI conditions.
The announcement was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with the event occurring on April 16, 2025, at 15:56 hours.