Gujarat-based city gas distribution company Torrent Gas, owned by the Mehta family through Torrent Investments, has filed its Updated Draft Red Herring Prospectus (UDRHP) with the Securities and Exchange Board of India (SEBI) to raise funds through an IPO.
The filing comes after the company received approval from the capital markets regulator for its confidentially filed draft offer document in June 2026. The IPO papers were initially filed through the confidential route in March 2026.
The initial public offering (IPO) will comprise entirely an offer-for-sale of 33.5 crore equity shares, with no fresh issue component, according to the UDRHP filed on September 8.
Promoter entity Torrent Investments will be the selling shareholder in the offer-for-sale.
Torrent Gas, which competes with listed peers such as Adani Total Gas and Indraprastha Gas, connects natural gas producers and suppliers with end-users, including domestic households, commercial establishments, industrial consumers and vehicles. The company has licences granted by the Petroleum and Natural Gas Regulatory Board for operations across 34 districts in seven states and one Union Territory.