Newsletter
Indian Gas Exchange (IGX) has taken the first step towards its IPO by filing draft papers with SEBI.
If the IPO goes ahead, IGX will become India's first listed gas exchange. The company plans to list exclusively on the BSE, aiming to boost its visibility, strengthen its brand, and create a public market for its shares.
What does IGX do: the company is India's only authorised gas exchange, where businesses buy, sell, and take physical delivery of natural gas through contracts ranging from same-day trades to six-month deals.
What's changing: the IPO will be entirely an Offer for Sale (OFS), with parent company Indian Energy Exchange (IEX) selling 1.67 crore shares.
Since no new shares are being issued, IGX won't receive any funds from the offering. The sale will also reduce IEX's stake from 47.3% to 25%, in line with regulatory ownership rules for gas exchanges.
What's next: IGX is looking beyond natural gas trading.
It plans to introduce gas contracts of up to two years and launch an R-LNG booking platform, a hydrogen price index, and a hydrogen trading platform. As demand for cleaner fuels grows, IGX is expanding to become a broader marketplace for India's energy transition.
ScanX.trade
