Torrent Gas Files Updated IPO Papers With OFS Of 33.5 Crore Shares
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Torrent Gas has filed its updated DRHP for a proposed IPO comprising an OFS of 33.5 crore shares by promoter Torrent Investments. The city gas distributor reported strong growth in revenue and profit in the June 2026 quarter.
Torrent Gas has filed an updated draft red herring prospectus with the Securities and Exchange Board of India (SEBI), taking another step towards its proposed initial public offering (IPO).
The Gujarat-based city gas distributor originally submitted its IPO papers through the confidential filing route in March 2026. SEBI cleared the confidential draft offer document in June, and the company has now filed the updated version publicly.
Torrent Investments To Sell Shares
The Torrent Gas IPO will consist entirely of an offer for sale (OFS) of 33.5 crore equity shares, according to the updated draft red herring prospectus (DRHP) filed on 8 September.
Torrent Investments, the promoter entity of the company, will be the selling shareholder. There will be no fresh issue of shares, so Torrent Gas will not receive any proceeds from the IPO.
The proposed listing is planned on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
Profit More Than Doubles In June Quarter
Torrent Gas recorded a sharp rise in profit during the June quarter.
Profit after tax stood at ₹129.85 crore, up 133.2% from ₹55.7 crore in the same quarter a year earlier. Revenue increased 28% to ₹1,788 crore from ₹1,396.8 crore.
The company also reported a gross margin of ₹18.05 per SCM (standard cubic metre) for the quarter ended June 2026. This was higher than the ₹11.84 per SCM average reported by benchmark city gas distribution companies in India.
Torrent Gas competes with listed city gas distributors such as Adani Total Gas and Indraprastha Gas. Its network connects natural gas suppliers with households, commercial users, industries and vehicle owners.
Axis Capital, Citigroup Global Markets India and Kotak Mahindra Capital Company have been appointed as merchant bankers for the Torrent Gas IPO.
Also Read - Injecto Polymers’ ₹56-Crore SME IPO To Open On 11 September
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
When she's not decoding markets, she trades charts for canvases, chasing art, painting, and architecture across cities she's yet to explore.
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