Indian Gas Exchange (IGX), a subsidiary of Indian Energy Exchange, has filed draft papers with Sebi for an initial public offering (IPO). The proposed issue is entirely an offer for sale (OFS), with no fresh equity being issued, meaning the company will not receive any proceeds from the IPO. As part of the offering, parent IEX plans to reduce its stake in IGX to comply with regulatory norms that require exchanges to maintain prescribed ownership limits. The IPO will provide investors an opportunity to participate in India's growing gas trading market while helping IGX strengthen its market presence through a public listing. Established in 2020, IGX operates an electronic platform for spot and forward trading of natural gas, supporting greater transparency and efficiency in the country's gas market.