Indian Gas Exchange files IPO papers with Sebi; parent IEX to divest stake
Indian Gas Exchange Ltd (IGX) filed preliminary papers with the Securities and Exchange Board of India (Sebi) to launch an Initial Public Offering (IPO). The IPO will be an Offer For Sale (OFS), meaning IGX will not receive any proceeds; all funds will go to its parent company, Indian Energy Exchange (IEX), which plans to divest its stake. This move marks a significant step for IGX as it seeks to enhance its market presence in India's natural gas trading sector.