Upcoming IPO: Indian Gas Exchange targets public issue by December, IEX to offload stake

Currently, Indian Energy Exchange (IEX) has a 47% stake in Indian Gas Exchange. As per the regulations, IEX's shareholding has to come down to 25%.

Mediratta said that the issue was supposed to take place in 2025, but the company had sought a one-year extension. It is now likely to occur before December this year.

The company is expected to file a draft red herring prospectus (DRHP) before market regulator SEBI in the second half of calendar year 2026.

"As much as 22% equity shares are likely to be offered in the share sale," he said but refused to speculate on the valuations.

IGX operates an electronic trading platform for natural gas, offering spot, forward and delivery-based contracts.

Last month, IEX's board had approved the Indian Gas Exchange (IGX) to start the IPO process for shares of ₹10 face value.

"The IPO will be undertaken by way of an offer for sale by certain existing and eligible shareholders, subject to market conditions, receipt of applicable approvals, regulatory clearances and other considerations," IEX had said in a stock exchange filing.

Mediratta said IGX saw a 62% growth in volumes in the calendar year, trading about 5.4 million standard cubic metres per day of gas on the exchange.

The natural gas traded on the platform is around 2.75% of the over 190 mmscmd of gas consumed in the country. The exchange is targeting a 5% share by 2029 and 7% by 2030, he said.

Upcoming IPOs

Meanwhile, last week, the Securities and Exchange Board of India gave its nod to initial share sales of eight companies, including Chartered Speed, Shriram Food Industry, Glass Wall Systems (India), Indira IVF, RKCPL, Rays Of Belief, Jerai Fitness and Tempsens Instruments (India).

These firms had submitted their DRHPs in the July-October period. They received SEBI's observations, which means the regulator's approval, between December 26 and January 2.