IGX Files Draft IPO Papers with SEBI, Promoter IEX to Sell 16.71 Million Shares
- 15th July 2026
- 04:10 PM
- 3 min read
Summary
Indian Gas Exchange Ltd (IGX) filed its draft red herring prospectus with the Securities and Exchange Board of India on 14 July 2026, to raise funds through an initial public offering. The IPO is entirely an offer for sale of up to 16.71 million shares by existing shareholder Indian Energy Exchange Ltd, which currently holds a 47.28% stake in the company. Axis Capital and Motilal Oswal Investment Advisors are the book running lead managers to the issue.Mumbai | 15 July 2026
Indian Gas Exchange Ltd has filed its draft papers with Sebi to raise funds via an IPO, structured entirely as an offer for sale by promoter Indian Energy Exchange Ltd.
About IGX
IGX is India’s first and only authorised national-level physical delivery-based gas trading exchange, providing an organised, transparent and technology-enabled marketplace for natural gas trading. Incorporated in November 2019 as a wholly owned subsidiary of Indian Energy Exchange Ltd, its trading platform was inaugurated in June 2020. In December 2020, the company received authorisation from the Petroleum and Natural Gas Regulatory Board to operate as a gas exchange.
IGX operates a fully automated electronic trading platform facilitating the buying and selling of natural gas through standardised delivery-based contracts across multiple delivery hubs connected to India’s national pipeline network. It serves participants across the natural gas value chain, including gas producers, gas marketing companies, city gas distribution companies, power generation companies, refineries, fertiliser companies, LNG terminal operators and industrial consumers.
As of 31 March 2026, IGX offered 10 standardised natural gas contracts and four small-scale liquefied natural gas contracts. Its natural gas offerings include fixed price contracts such as intra-day, day-ahead, daily, weekly, weekday, fortnightly, monthly and balance-of-month contracts, along with three-month and six-month index-linked contracts. The LNG segment comprises daily, fortnightly, monthly and balance-of-month contracts.
Financial Performance
For FY26, IGX reported total revenue of Rs 84.84 crore, compared with Rs 69.08 crore in the previous financial year. Net profit rose to Rs 42.02 crore from Rs 30.79 crore a year earlier.
IPO Structure
The issue is entirely an offer for sale of up to 16.71 million equity shares by Indian Energy Exchange Ltd, the promoter, which currently holds a 47.28% stake in IGX. As the issue is a complete OFS, the company will not receive any fresh capital from the offering.
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