Sources familiar with the situation informed Reuters that Torrent Gas intends to file updated draft documents for its initial public offering (IPO) worth up to 40 billion rupees, equivalent to $418.09 million, this week.
The company, which supplies piped natural gas (PNG) to residential homes and businesses in eight states and one union territory of India, is part of the Torrent Group, headquartered in Ahmedabad. Other listed companies within this group include Torrent Power and Torrent Pharma.
According to the company's website, Torrent Gas supplies PNG to over 200,000 households and more than 1,300 industrial units, and also manages about 500 compressed natural gas (CNG) stations.
The Indian market regulator had previously approved Torrent Gas's confidential IPO application in June. The updated draft prospectus is expected to be the company's first public document.
The filing comes amid a significant surge in activity in India's primary market following a relatively weak first half of the year. This growth is linked to a spike in crude oil prices triggered by the war in Iran. As of July, nearly 27 IPOs have been launched or announced, almost matching the 28 recorded in the first half of 2026.
Confidential filings allow companies to submit IPO draft documents to the market regulator for review without making them public before a decision on the placement is made.