The planned IPO will be a complete offer for sale (OFS), with its parent company, Indian Energy Exchange (IEX), intending to sell up to 1.67 crore shares. As the offering does not incorporate any fresh equity, IGX will not gain any proceeds from this sale.
The sale of shares aims to meet regulatory requirements. Currently, IEX owns 47.3% of IGX and intends to decrease its stake to 25%, which is the maximum allowed for shareholders not affiliated with a gas exchange.
As per the draft prospectus, IGX’s shares are set to be listed on the BSE.
Earlier this year, IGX Managing Director and CEO Rajesh Kumar Mediratta informed news agency PTI that the company postponed its IPO by a year after requesting an extension. The public offering is now anticipated to launch before December 2026.
In the future, the exchange intends to broaden its product range, pending regulatory approvals. Mediratta previously mentioned that IGX plans to introduce one-year and two-year gas contracts, alongside long-term contracts with three-month and six-month terms. Currently, the exchange offers day-ahead and five term-ahead contracts—daily, weekday, weekly, fortnightly, and monthly.
Longer-duration contracts still comprise a minor fraction of the business. The three-month and six-month contracts contributed less than 5% of overall traded volumes in FY26, while monthly contracts represented 59% of volumes during the first nine months of FY26. Overall, trading volumes on the exchange saw a 46% increase during the April-December 2025 timeframe.
In addition to gas contracts, IGX also aims to introduce a platform for reserving regasified liquefied natural gas (R-LNG) capacity, as well as a hydrogen index and hydrogen trading platform.
IGX operates an electronic marketplace for natural gas, enabling spot, forward, and delivery-based contracts.
Besides IEX, other shareholders of the exchange include GAIL, ONGC, Indian Oil Corporation, Adani Total Gas, Torrent Gas, and NSE Investments.
For FY26, the Noida-based company reported a 36.5% rise in net profit to ₹42.02 crore, with revenue increasing by 25% to ₹61 crore.
Axis Capital and Motilal Oswal Investment Advisors are the book-running lead managers for the issue.
