IGX filed draft papers for an IPO, with IEX selling 1.67 crore shares through an OFS.
India's first gas exchange reported 25% revenue growth and 36.5% profit growth in FY26.
The IPO is a pure OFS, so IGX will not receive any proceeds from the issue.
Indian Energy Exchange (IEX)-promoted Indian Gas Exchange (IGX), the country's first and only authorised national-level physical delivery-based gas trading exchange, has filed draft papers with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO).
The proposed IPO will be entirely an offer for sale (OFS) of 1.67 crore equity shares by promoter Indian Energy Exchange (IEX), with no fresh issue of shares. As a result, IGX will not receive any proceeds from the public issue, with the entire amount going to the selling shareholder.
4 July 2026
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According to the draft papers, the listing aims to enhance the company's visibility, strengthen its brand image and provide liquidity through a public market for its shares.
If listed, IGX will become India's first gas exchange to debut on the stock market. The company's shares are proposed to be listed exclusively on the BSE.
IEX currently holds a 47.28% stake in IGX, while NSE Investments owns 24.75%, making it the largest public shareholder. Other shareholders include ONGC, GAIL (India), Torrent Gas, Adani Total Gas, Indian Oil Corporation, and IGX ISOS Trust.
Strong Growth In Volumes And Profit
Incorporated in November 2019, IGX operates a technology-enabled electronic marketplace for trading natural gas through standardised physical delivery-based contracts across multiple hubs connected to India's national gas pipeline network.
The platform offers spot contracts, including intraday, day-ahead and daily contracts, along with forward contracts of up to six months.
IGX reported strong operating performance in FY26. Cumulative traded volumes grew at a 37.12% CAGR to 76.79 million MMBtu from 40.84 million MMBtu in FY24.
Revenue from operations rose 25% to ₹61 crore in FY26 from ₹48.8 crore a year earlier, while profit increased 36.5% to ₹42 crore from ₹30.8 crore.
Earlier this year, IGX Managing Director and CEO Rajesh Kumar Mediratta had said the company was targeting an IPO by December 2026.
Axis Capital and Motilal Oswal Investment Advisors are the book-running lead managers to the issue, while KFin Technologies is the registrar.
