Indian Gas Exchange (IGX), which announced plans for public listing of shares last month, is targeting to launch its initial public offer (IPO) by the end of the current calendar year.
India’s first automated national level gas exchange, IGX is an associate company of Indian Energy Exchange (IEX) and operates under the regulatory framework of the Petroleum and Natural Gas Regulatory Board (PNGRB).
“We plan to come out with the IPO by December this year,” said Rajesh Mediratta, the MD & CEO of IGX.
Currently, IEX holds 47 per cent stake and NSE holds about 26 per cent; other minority shareholders include GAIL, Oil and Natural Gas Commission (ONGC) and Indian Oil Corporation (IOCL), Adani Gas and Torrent Gas.
“The IPO would largely consist of OFS (offer for sale) as IEX will dilute about 22 per cent stake as per the SEBI norms. The merchant bankers are yet to be appointed for the sale process,” he added.
Size under wraps
The norms would also mandate NSE to off-load 1 per cent stake which it may sell during the IPO or even in the pre-IPO rounds, Mediratta explained.
IEX’s board of directors after their meeting on December 2, 2025 said that they have approved the process for the IPO of equity shares of face value of ₹10 each of IGX.
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 said in a filing on BSE on December 3.
The size of the issue, opportune time and modalities of the issue will be decided in due course. The company will update the exchanges of all material developments regarding the same, as and when required, as per applicable regulation.
IGX currently offers delivery-based trade in eight fixed price contracts — intraday, day-ahead, daily, weekday, weekly, fortnightly, monthly & balance of month, under which the trade can be executed for 12 consecutive months.
It offers trades across 23 delivery points, out of which, six are liquefied natural gas (LNG) terminals, three pipeline interconnection points and 14 domestic gas field landfall points across 6 regional gas hubs. It also offers small scale LNG (ssLNG), where LNG is supplied by trucks, at multiple delivery points (R-LNG Terminals).
Around 580 lakh million British thermal units (mBtu), or 1.5 billion cubic meters (BCM) of gas was traded at the platform in FY26 (YTD), a growth of 45 per cent year-on-year. Till date, IGX has traded 2220 lakh mBtu, or more than 5.5 BCM.
Published on January 7, 2026
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