Indian Gas Exchange, an associate company of Indian Energy Exchange, has filed a draft red herring prospectus with the Securities and Exchange Board of India and BSE Limited for its initial public offer. The DRHP was filed on July 14, 2026, marking a significant step towards the listing of the gas exchange platform. The proposed offer consists entirely of an offer for sale of up to 16,710,000 equity shares by Indian Energy Exchange .

The filing was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation follows a previous disclosure dated December 03, 2025, regarding the potential IPO. The offer remains subject to the receipt of applicable approvals, prevailing market conditions, and other relevant considerations.

The following table outlines the key details of the proposed offer:

Indian Energy Exchange stated that the information regarding the DRHP filing is available on its website. The company further requested the stock exchanges to take the submitted information on record. Vineet Harlalka, the CFO, Company Secretary & Compliance Officer of Indian Energy Exchange, signed the intimation on July 15, 2026.

Indian Energy Exchange , India's premier electricity exchange, achieved an electricity traded volume of 37,534 MU during the first quarter of fiscal year 2027, marking a 15.9% year-on-year increase. The surge in trading volume was driven by hotter-than-normal summer conditions and persistent heatwaves, which pushed India's peak power demand to an all-time high of 270.8 GW in May 2026. Consequently, the country's energy consumption touched 485.4 BUs in Q1FY27, registering an 8.8% year-on-year growth.

The Market Clearing Price in the Day-Ahead Market (DAM) stood at ₹5.1/unit during Q1FY27, an increase of 15.7% compared to Q1FY26. Similarly, the Market Clearing Price in the Real-Time Market (RTM) at ₹4.5/unit during Q1FY27 rose 13.8% compared to the corresponding period of the previous year. A total of 9.77 lakh Renewable Energy Certificates (RECs) were traded during the quarter, although REC volumes declined 81.4% year-on-year.

Electricity Market Performance

The Day-Ahead Market, including the High-Power Day-Ahead Market (HPDAM), achieved a volume of 13,344 MU in Q1FY27, a 7.6% increase from 12,399 MU in Q1FY26. The Real-Time Electricity Market volume increased significantly to 16,019 MU in Q1FY27 from 12,975 MU in Q1FY26, registering a 23.5% year-on-year growth. The Day Ahead Contingency and Term-Ahead Market (TAM), comprising HPTAM, contingency, daily, weekly, and monthly contracts, traded 5,344 MU in Q1FY27, up 22.9% from 4,348 MU in Q1FY26.

Green Market and REC Trends

The IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved a volume of 2,827 MU in Q1FY27, an increase of 6.3% over Q1FY26. However, the Renewable Energy Certificate Market saw a sharp decline, with 9.77 lakh RECs traded during the quarter, a drop of 81.4% year-on-year. Sell bids declined by 86.1% year-on-year, leading to a rise in clearing prices.

June 2026 Update

In June 2026, IEX achieved a monthly electricity traded volume of 12,210 MU, a 12.5% increase year-on-year. The Real-Time Market recorded a notable performance in June 2026, with RTM volume reaching 5.4 BU, reflecting a 25.7% year-on-year increase. The Market Clearing Price in the Day-Ahead Market during June 2026 was ₹5.2/unit, an increase of 32.4% year-on-year, while the Real-Time Market price stood at ₹4.4/unit, up 17% year-on-year. The country's energy consumption reached 166.5 BUs in June 2026, reflecting an 11.6% year-on-year growth due to heat waves and the late onset of the monsoon. A total of 2.49 lakh RECs were traded during the month, a decline of 92.3% year-on-year.