Indian Gas Exchange files for IPO as parent IEX looks to pare stake

Indian Gas Exchange (IGX) has filed draft papers for an IPO on BSE through an offer-for-sale route. Parent IEX, which currently holds 47.3%, will sell up to 16.7 million shares, reducing its holding to the 25% regulatory ceiling. IGX posted a 36.5% rise in FY26 profit to about Rs 42 crore on revenue of about Rs 61 crore, up 25%. Other shareholders include GAIL, ONGC, Indian Oil, Adani Total Gas and Torrent Gas; Axis Capital and Motilal Oswal are managing the issue.