The world's fastest growing CNG firm Indraprastha Gas Ltd's shares soared 130 per cent on their trading debut at the Bombay Stock Exchange on Friday.

IGL shares opened for trading on Friday at BSE and National Stock Exchange. At BSE, IGL managing director A K De rang the ceremonial gong to commemorate the listing of IGL scrip.

The scrip opened at Rs 110.25 against an offer price of Rs 48 per share, as optimistic investors flogged the energy firm which is the sole supplier of compressed natural gas to automobiles and piped natural gas for domestic use in Delhi.

IGL made an initial public offering of 40 million shares of Rs 10 each in a price band of Rs 40 to 48. The issue was over-subscribed 35.6 times. The issue price was fixed at Rs 48.

The offer was made through a 100 per cent book building process wherein 50 per cent of the offer was allotted on a discretionary basis to Qualified Institutional Buyers.

Further, 25 per cent of the offer was allotted on a proportionate basis to non-institutional bidders and 25 per cent of the offer was allotted on a proportionate basis to retail individual bidders. 300,000 equity shares were reserved for allotment to permanent employees of the company.

IL&FS, Infrastructure Development Finance Co Ltd, and Unit Trust of India, sold 28.57 per cent of IGL's paid-up equity capital through this offering.

State-run gas transmission firm Gail (India) Ltd and refiner Bharat Petroleum Corp Ltd (BPCL) hold 22.5 per cent stake each in the company, while 5 per cent shareholding is held by the Delhi government.