Indian Energy Exchange announced the first strategic divestment of shares in the Indian Gas Exchange (IGX), its wholly owned subsidiary and India s first authorized gas exchange.
Adani Total Gas, and Torrent Gas, India s two leading energy players with stakes in both upstream and downstream
hydrocarbon value chain, have acquired 5% equity stake each in the IGX.
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Read more about Adani Total Gas acquires 5% stake in IGX on Business Standard. Adani Total Gas signed share purchase agreement on 21 January 2021 for acquiring 5% stake of Indian Gas Exchange (IGX) from Indian Energy Exchange (IEX) for a cash consideration of Rs 3.69 crore.
Adani Total Gas has acquired 5% Stake i.e. 36,93,750 equity share of Rs 10 each of Indian Gas Exchange from Indian Energy Exchange. The cost of acquistion is Rs 3.69 crore.
Indian Gas Exchange is an authorised Gas Exchange regulated by the Petroleum and Natural Gas Regulatory Board in accordance with
the provisions of the Petroleum and Natural Gas Regulatory Board (Gas
Exchange) Regulations, 2020.
The company s turnover for FY 2020 was Rs 0.10 crore. As on 31 March 2020, the company s net worth was Rs 7.80 crore.
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