Sources say that India's Torrent Gas will file updated draft documents for an IPO of up to $418 Million.

Two sources familiar with the matter said that India's Torrent Gas aims to file updated draft documents for an initial public offering up to 40 bn rupees (418.09 millions dollars) as early as this week.

The company supplies natural gas to homes and industries in India's eight states and one union territories. It is a part of the Ahmedabad based?Torrent Group.

According to its website, Torrent Gas supplies compressed natural gas to about 500 CNG stations and over 200,000 households.

The IPO plans of the?company were not commented on by the?company immediately. The?company did not immediately respond to a?

India's market regulator approved Torrent Gas confidential IPO filing back in June. This week's updated draft redherring prospectus will be Torrent Gas' first public IPO document.

The filing is at a time when India’s primary market has seen a significant increase in activity after a tepid first half of the year, due to a spike in crude oil prices caused by the Iran War. Since July, 27 companies have launched or announced IPOs. This is almost the same as the 28 that were recorded in the first half 2026.

Confidential filings allow companies to submit 'draft IPO papers' to the'markets regulators for review' without making them public before they decide whether to proceed with an offering.

(source: Reuters)