Torrent Gas Plans Updated Draft Papers for Up to $418 Million IPO
India’s Torrent Gas is expected to file updated draft papers for an initial public offering of up to 40 billion rupees ($418.09 million) as early as this week, according to two sources familiar with the matter. The company supplies piped natural gas (PNG) to households and industries across eight states and one union territory and is part of the Ahmedabad-based Torrent Group.
Torrent Gas serves more than 200,000 households and over 1,300 industries through its PNG network, while also operating around 500 compressed natural gas (CNG) stations. India’s market regulator approved the company’s confidential IPO filing in June. The updated draft red herring prospectus would be Torrent Gas’ first publicly available IPO document. The company did not immediately respond to a Reuters request for comment.
The planned filing comes as activity in India’s primary market has gained momentum following a relatively subdued first half of 2026, when crude oil prices rose sharply amid the Iran war. Since July, 27 companies have either launched or announced IPOs, nearly matching the 28 recorded during the first half of the year. Torrent Gas is backed by the wider Torrent Group, whose other listed businesses include Torrent Power and Torrent Pharmaceuticals.
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