Torrent Gas to file updated draft papers for Rs.4,000-Cr IPO

Ahmedabad-based Torrent Gas is preparing to file an updated draft red herring prospectus for an initial public offering of up to INR 4,000 crore. The company previously received approval for a confidential IPO filing in June.Founded in 2018 as part of the Torrent Group, the company supplies piped natural gas to households and industries across eight states and one union territory. Its infrastructure includes the operation of about 500 compressed natural gas stations, serving more than 2,00,000 households and over 1,300 industrial units.