Rajputana Biodiesel Subsidiary Receives LOI from IOCL for Biodiesel Supply valued at Rs 17.19 Crores
Rajputana Biodiesel Limited, through its subsidiary Nirvaanraj Energy Private Limited, has received a Letter of Intent (LOI) from Indian Oil Corporation Limited (IOCL). The LOI confirms the supply of biodiesel to IOCL for the period spanning June 2026 to August 2026.The contract award was made during a tender process initiated by OMCs (Oil Marketing Companies), including IOCL, Hindustan Petroleum Corporation Limited (HPCL), and Bharat Petroleum Corporation Limited (BPCL). The order relates to the supply of biodiesel at Meerut, Uttar Pradesh.
Nirvaanraj Energy Private Limited secured the LOI from Indian Oil Corporation Limited on July 23, 2026. The contract details involve a significant aggregate volume and estimated value for Rajputana Biodiesel Limited and its subsidiary.
The specific details of this procurement contract are as follows:
| Entity Awarding Order | Product | Buyer | Quantity | Time Period | Estimated Value (Inc. GST) |
|---|---|---|---|---|---|
| Indian Oil Corporation Limited (IOCL) | Biodiesel Supply | IOCL | 1854 KL | June 2026 to August 2026 | Rs 17.19 Crores |
Rajputana Biodiesel Limited noted that the order for this contract is not a related party transaction and there is no interest of the company or its promoter group in the entity awarding the order.
In addition to this awarded LOI, further Letters of Intent for remaining bid volumes are expected shortly. These anticipated contracts will be issued in favor of Rajputana Biodiesel Limited and Nirvaanraj Energy Private Limited.
RAJPUTANA Stock Price Movement
Rajputana Biodiesel Limited shares closed today, surging to ₹199.45 after rising 11.83% in market trading. The stock saw strong activity, with total traded volume reaching 11,500 against an intraday range that spanned from a low of ₹179 to a high of ₹200.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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