New Delhi, Oct. 12 -- Indian Gas Exchange Ltd (IGX), the country's first online delivery-based trading platform for natural gas, on Monday secured Sebi's approval to float an IPO, an update with the regulator showed.
The proposed public issue is entirely an offer for sale (OFS) of up to 1.67 crore equity shares by promoter Indian Energy Exchange Ltd (IEX), according to the draft red herring prospectus. As the issue is entirely an OFS, IGX will not receive any proceeds from the IPO. The entire proceeds will go to the selling shareholder, IEX.
The company had filed its preliminary IPO papers in July. After reviewing the draft prospectus, Sebi gave its final observation on October 12.
Sebi's observations mark an important step in the IPO process, allowing the company to proceed with the preparations for the public issue, subject to applicable regulatory requirements. The approval comes amid a strong IPO fundraising momentum, with companies raising over Rs 1.1 lakh crore through 96 public issues so far in 2026.
Published by HT Digital Content Services with permission from Millennium Post.