Matrix Gas and Renewables files for IPO, to be listed on NSE Emerge
small and medium enterprises (SMEs). The gas aggregator plans to use the proceeds from the issue primarily towards meeting the working capital requirements for sourcing natural gas, RLNG (regasified liquefied natural gas), and importing LNG (liquefied natural gas) cargoes.
Matrix Gas & Renewables Limited is backed by Anmol Singh Jaggi, founder of Gensol Engineering Ltd. In the fiscal year 2022-23, Matrix Gas registered a turnover of ₹490 crore, resulting in a net profit after taxes of ₹32 crore.
Earlier this month, the company raised funds from institutional investors, including BharatPe founder Ashneer Grover, Gunavanth Vaid of 4Gcapital venture, Chhattisgarh Investments Group, and Singhvi Heritage LLP, in a pre-IPO round. The IPO will be subject to regulatory approvals, market conditions, and other considerations.
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