Liquidity Events
Indian Gas Exchange files for OFS-IPO
Economic Times Indian Gas Exchange
Indian Gas Exchange has filed for an initial public offering (IPO) which will be a 100% OFS. Its parent, Indian Energy Exchange, will sell 16.7 million shares to reduce its stake to 25%. This divestment is intended to comply with regulatory requirements regarding ownership ceilings for gas exchanges by entities that are not members of the exchange. Axis Capital and Motilal Oswal Investment Advisors are acting as managers for the transaction.Founded in 2020, Indian Gas Exchange operates a gas trading platform that counts GAIL, ONGC, Indian Oil, Adani Total Gas, Torrent Gas, and NSE Investments among its shareholders. In fiscal 2026, the company recorded an annual profit of INR 420.2 million on revenue of INR 610.1 million, reflecting a 36.5% and 25% increase, respectively.The parent firm, Indian Energy Exchange, currently holds a 47.3% stake in the company.
Between Sep 2010 and Oct 2017, Indian Gas Exchange had attracted about $239-M from Bessemer, Lightspeed Ventures, Multiples, Aditya Birla PE, Global Environment Fund, TVS Capital, Madison India, Siguler Guff, Motilal Oswal Alternates, WestBridge, and others.For FY25, Indian Gas Exchange had reported about Rs.49-Cr in Operating Income and about Rs.31-Cr in PAT.
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