Torrent Gas Files Updated IPO Papers for Share Sale
Torrent Gas has filed an updated draft prospectus for an initial public offering involving the sale of up to 335 million shares by its parent company. The gas distributor reported surging profit and revenue ahead of the planned market debut.
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India's Torrent Gas filed updated IPO papers on Tuesday evening, with its parent offering up to 335 million shares to raise funds. The offering could raise up to 41.8 billion rupees ($418M) based on earlier reports. The listing arrives as the country's capital markets regain momentum.
