New Delhi, April 3 -- Punjab Carbonic, Sadbhav Futuretech, Bvishal Oil and Energy has filed its draft red herring prospectus (DRHP) with the capital market regulator, Securities and Exchange Board of India (SEBI), for an initial public offering (IPO).

Punjab Carbonic, a company specializing in carbon capture and utilization along with industrial gas solutions, plans to offer 95 lakh equity shares priced at Rs.10 each. Punjab Carbonic IPO consists of a fresh issuance of 60 lakh equity shares along with 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 Andh...