Pan Oleo Energy Limited, one of the key players in the Indian Biofuel ecosystem is likely to float Initial Public Offering (IPO) by mid 2025, a decision which was taken by the company’s board of directors and management, in their top level executive meeting.
Headquartered in Chennai, Pan Oleo Energy has versatile infrastructure and industrial unit capacity to manufacture large volumes of Biodiesel and to cater to the ever growing biofuel demand of the Indian Market. Apart from the Biodiesel production, the company also specializes in production of large scale industrial chemicals, solvents and its own line of FMCG products.
Mr.Vasanth JB, the Chief Operating Officer of Pan Oleo Energy stated that “Our initial plan of action is to ramp up production capacity in our existing units and to rapidly scale up our operations with 7 Biodiesel plants across South India, in order to cater and supply to the growing demand of Biodiesel. We are working towards a goals of reducing the carbon footprints, driving up the renewable energy sector in India and moving the country towards a sustainable and greener future ”
Mr.Vasanth also added that the management board of the company came out with this well planned and strategized IPO decision after rounds of internal discussions, as well as discussions with analysts and consultants. We have shown significant market penetration despite the tough times that the Biodiesel and the Chemical industries have due to the global pandemic and we are forecasting a dramatic growth in our sales by the end of 2022, he announced.
Biodiesel is a clean-burning and renewable fuel generally produced in large quantities from vegetable oil/ fats and animal fats. Biodiesel is utilized on a large scale in many of the industries including transportation, mining, power generation, automotive, railway, marine and so on as an alternative for conventional diesel. Biodiesel is also helping India to diminish the dependency on foreign oil reserves as it is being produced domestically. Biodiesel can also be utilized in diesel engines at any proportions with simple or literally no modifications, according to various official sources. There are rising concerns about greenhouse gas emissions resulting in the use of renewable and clean, greener sources of energy. Hence, biodiesel fuels are rapidly replacing conventional fossil fuels across the globe. The government in many different countries is also backing eco-friendly alternatives such as biodiesel. In India, the government has encouraged the OMCs to procure standard Biodiesel and encouraged blending of Biodiesel in order to reduce dependence on foriegn oil reserves.
Pan Oleo Energy has played a pivotal role in manufacturing and supplying Biodiesel and Industrial chemicals all over South India. Apart from this, sources close to the company have confirmed that the company is planning on diversifying its operations in other verticals and is also planning on entering into the North Indian biofuel market and biofuel export market. The company has also had a rise in supply of industrial chemicals and solvents to the B2B market over the past few years and is planning on ramping up the operations in the Chemical sector.
