Indian Gas Exchange to launch IPO by December 2026, says MD and CEO

IGX would raise funds through offer for sale (OFS) by existing shareholders, with parent company Indian Energy Exchange (IEX) bringing down its share in the company to 22 per cent

Indian Gas Exchange (IGX) plans to launch an initial public offering (IPO) by the end of December to raise funds through offer for sale (OFS) by existing shareholders, its Managing Director and Chief Executive Officer (MD & CEO) Rajesh Kumar Mediratta said on Wednesday.

 

Under the offer, IGX’s parent company, Indian Energy Exchange (IEX), will dilute 22 per cent stake reducing its share in the firm from 47 per cent now to 25 per cent by the year-end. National Stock Exchange (NSE), which holds 26 per cent stake, will also dilute 1 per cent share.

 

Other investors of IGX include GAIL (India) Ltd, Oil and Natural Gas Corporation (ONGC), Indian Oil, Adani Total Gas, and Torrent Gas. Earlier, this month, the IGX board had approved the IPO plan to raise funds without divulging details about the size and modalities of the issue.

 

 

New product launch 

Mediratta said IGX plans to launch long-term contracts of one year and two years on the exchange, subject to regulatory approval. It currently provides day-ahead contracts and five term-ahead contracts, including daily, weekday, weekly, fortnightly, and monthly. Long-term contracts will include those for three months and six months.

 

The three-month and six-month contracts contributed less than 5 per cent to the total volumes traded on the exchange in the current financial year so far. IGX’s monthly contracts accounted for the maximum volumes at 59 per cent in the first nine months of 2025-26. Volumes traded on IGX rose 46 per cent in the April-December 2025 period.

 

IGX also plans to launch a platform for booking regasified liquefied natural gas (R-LNG) capacity, along with a hydrogen index and trading.

 

Mediratta said he expects spot natural gas prices to fall to $6-8 per million metric British thermal unit (mmBtu) by 2030 amid rapid global LNG capacity expansion. IGX currently offers trades at 23 delivery points, including six LNG terminals, three pipeline interconnection points and 14 domestic gas field landfall points across six regional gas hubs.