India’s Torrent Gas to file updated draft papers for up to $418 million IPO, sources say

RoydadNaft – India’s Torrent Gas aims to file updated draft papers for an initial public offering of up to 40 billion rupees ($418.09 million) as early ‌as this week, two sources aware of the matter told Reuters.

The company, which supplies piped natural gas (PNG) to households and industries in eight states and one union territory in India, is part of Ahmedabad-based Torrent Group, whose other ⁠listed companies include Torrent Power and Torrent Pharma.

Torrent Gas supplies PNG to over 200,000 households and more than 1,300 industries, while also operating about 500 compressed natural gas (CNG) stations, according to its website.

The company did not immediately respond to a Reuters request for comment on its IPO plans.

India’s markets regulator had approved Torrent Gas’ confidential IPO filing in June. The updated draft ‌red ⁠herring prospectus, expected this week, will be the company’s first public IPO document.

The filing comes at a time when India’s primary market activity has picked up substantially after a muted first half of the year ⁠due to the Iran war-driven spike in crude oil prices. As many as 27 companies have either launched or announced their IPOs since July, ⁠nearly matching the 28 recorded in the first half of 2026.

A confidential filing allows companies to submit draft IPO ⁠papers to the markets regulator for review without making them public until they decide to proceed with the offering.

($1 = 95.6725 Indian rupees)

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India’s Torrent Gas to file updated draft papers for up to $418 million IPO, sources say

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