Indian Gas Exchange has filed draft papers for an initial public offering, as its parent Indian Energy Exchange plans to reduce its holding to meet regulatory limits. IEX, which owns 47.3 percent of IGX, will sell up to 16.7 million shares in the offering. This would bring its stake down to 25 percent, the maximum ownership allowed for any non-member shareholder in a gas exchange.
IGX shares are expected to list on the BSE. The company is not issuing new shares and will receive no proceeds from the sale. Other shareholders include GAIL, Indian Oil, Adani Total Gas, Torrent Gas and NSE Investments.
The Noida-based firm reported a 36.5 percent rise in annual profit to 420.2 million rupees, or 4.37 million dollars, for fiscal 2026. Revenue grew 25 percent to 610.1 million rupees. Axis Capital and Motilal Oswal Investment Advisors are managing the offering. One dollar equals 96.2 Indian rupees.
