Rajputana Biodiesel Share Price Jumps 12% On Thursday; Here’s Why
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Rajputana Biodiesel informed the exchanges that its subsidiary, Nirvaanraj Energy, has received a Letter of Intent from Indian Oil Corporation for the supply of 1,854 KL of biodiesel, while additional LOIs are expected for the remaining bid volumes.
✨ Key Takeaways
On Thursday, Indian equity benchmark indices ended lower, with the benchmark Nifty 50 index declining 126.65 points, or 0.53 per cent, to 23,869.60. Despite the weak market sentiment, Rajputana Biodiesel share price jumped 11.55 per cent to Rs 199.45 after the company announced that its subsidiary had secured a Letter of Intent (LOI) from Indian Oil Corporation Limited (IOCL) for the supply of biodiesel.
Rajputana Biodiesel Receives Rs 17.19 Crore Biodiesel Supply LOI
Rajputana Biodiesel informed the stock exchanges that Nirvaanraj Energy Private Limited, a subsidiary of the company, has received a Letter of Intent (LOI) from Indian Oil Corporation Limited (IOCL) for the supply of 1,854 kilolitres (KL) of biodiesel at Meerut, Uttar Pradesh.
The order carries an estimated value of approximately Rs 17.19 crore, including GST, and is scheduled to be executed during the period from June 2026 to August 2026. The contract was awarded pursuant to a biodiesel procurement tender floated by the Oil Marketing Companies (OMCs).
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Tender Issued by Oil Marketing Companies
The company stated that Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL) had jointly invited bids through EOI No. OMC/EOI/BD/JUN26 (Cycle 1) for the supply of biodiesel covering the June 2026 to August 2026 period.
Following participation in the tender, the company's subsidiary received the LOI from IOCL for the supply at Meerut.
Additional LOIs Expected
Rajputana Biodiesel further informed that Letters of Intent for the remaining bid volumes are expected to be issued shortly in favour of Rajputana Biodiesel Limited and Nirvaanraj Energy Private Limited.The company indicated that the current LOI represents only a part of the total bids submitted under the tender process, with further allocations expected from the participating Oil Marketing Companies.
Order Details
According to the exchange filing, the order has been awarded by a domestic entity, namely Indian Oil Corporation Limited, for the supply of biodiesel.
The execution period is from June 2026 to August 2026, and the estimated order value is Rs 17.19 crore, including GST. The company also clarified that the promoter, promoter group and group companies have no interest in the awarding entity, and the transaction does not qualify as a related-party transaction.
About Rajputana Biodiesel
Rajputana Biodiesel Ltd, formerly known as Rajputana Biodiesel Private Limited, is engaged in the manufacturing and supply of biodiesel and renewable fuel solutions. The company caters to the growing demand for sustainable energy by supplying biodiesel to oil marketing companies and industrial customers across India.
Through its subsidiary Nirvaanraj Energy Private Limited, the company continues to expand its presence in the renewable fuels segment by participating in large-scale procurement tenders floated by public sector oil marketing companies, strengthening its position in India's biofuel ecosystem.
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Disclaimer: The article is for informational purposes only and not investment advice.