Rajputana Biodiesel Limited, along with its subsidiary Nirvaanraj Energy Private Limited, has received Letters of Intent (LOIs) to supply 3,543 kilolitres of biodiesel to Indian Oil Corporation Limited (IOCL) and Hindustan Petroleum Corporation Limited (HPCL). The contracts, valued at approximately ₹30 crore, are scheduled to be executed between April and July 2025, reports Autocar Professional.
The LOIs follow a nationwide tender floated by Oil Marketing Companies (OMCs) on March 13, 2025, for a total of 2,00,000 kilolitres of biodiesel. The tender, listed under EOI No. OMC/EOI/NUCO/BD/MAR25 (CYCLE1) with Tender ID 2025_MKTHO_184206_1, invited bids from biodiesel suppliers across India.
In a disclosure to the National Stock Exchange, Rajputana Biodiesel stated that additional LOIs are expected soon. “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 noted.
The execution of the orders will begin once the company completes necessary formalities, including submission of bank guarantees, security deposits, and test certificates, as outlined in the tender requirements.
The announcement was made in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with the official disclosure timestamped at 3:56 p.m. on April 16, 2025.
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