IGL explores stakes in city-gas distributors as it expands CNG and PNG network
Indraprastha Gas is evaluating investments in existing city-gas distribution companies while scaling its consumer network. It added 70 CNG stations and 370,000 PNG domestic connections in 2025-26, taking its network to 1,024 CNG outlets and 32,000 km of pipelines.
What happened
Indraprastha Gas Limited (IGL) · IGL is exploring stakes in existing city gas distributors while expanding its CNG and PNG network. The company added 70 CNG
Key facts
- 70 new CNG stations in 2025-26
- 1,024 total CNG stations
- 3.70 lakh new PNG domestic connections
- 32,000 km pipeline network
- over 3 million PNG-connected households
What changed
IGL is exploring stakes in existing city gas distributors while expanding its CNG and PNG network. The company added 70 CNG stations and 3.70 lakh PNG connections in 2025-26, and is pursuing 500 MW and 200 MW solar projects in Rajasthan.
Why this matters
IGL’s dual track of adding stations and household connections while pursuing city-gas stakes can deepen network density, but will require disciplined integration and capital deployment.
What to watch
- Named acquisition targets, due-diligence announcements, board approvals or funding plans.
- PNGRB approvals, changes in CGD licensing policy, tariff rules or network-access requirements.
- IGL's CNG sales growth, PNG connection additions, station utilization and EBITDA per standard cubic metre.
- Debt issuance, equity fundraising or a rise in leverage that signals transaction financing.
- Competitive actions by Mahanagar Gas, Gujarat Gas, Adani Total Gas and other CGD operators.