The Indian Energy Exchange (IEX) on Wednesday announced strategic divestment of 26 per cent of its equity holding in the Indian Gas Exchange (IGX) to National Stock Exchange (NSE) of India Ltd and additional 5 per cent equity holding to Oil and Natural Gas Corporation (ONGC) Ltd. IGX has a robust ecosystem of more than 6,500 market participants which include all distribution utilities in the country, major power generators as well as over 4,500 open access consumers. Secretary at the Ministry of Petroleum and Natural Gas Tarun Kapoor said the government is committed to build a sustainable energy economy in which clean energy sources like gas have a key role to play.
IEX offloads stake in IGX to NSE, ONGC
March 10, 2021
× The Indian Energy Exchange has divested 26 per cent of its equity holding in the Indian Gas Exchange (IGX) to NSE through its wholly-owned subsidiary NSE Investments.
It has also sold 5 per cent equity holding to Oil and Natural Gas Corporation (ONGC), a Maharatna Central public sector undertaking. IGX became India’s first gas exchange after it secured authorisation from the Petroleum and Natural Gas Regulatory Board last December 2.
Tarun Kapoor, Secretary, Ministry of Petroleum and Natural Gas, said the government is committed to building a sustainable energy economy wherein clean energy sources such as gas have a key role to play.
IGX offloads 26 pc stake to NSE, 5 pc to ONGC ANI | Updated: Mar 10, 2021 14:33 IST
The IGX has a robust ecosystem of more than 6,500 market participants which include all distribution utilities in the country, major power generators as well as over 4,500 open access consumers.
Secretary at the Ministry of Petroleum and Natural Gas Tarun Kapoor said the government is committed to build a sustainable energy economy in which clean energy sources like gas have a key role to play. We are working collaboratively with key stakeholders in the value chain to create an enabling policy framework that supports development of gas markets in the country, he said.
ONGC acquires 5% stake in Indian Gas Exchange
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Last Updated: Mar 10, 2021, 08:21 PM IST
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Synopsis
IGX is India s first automated national-level gas exchange for trading in natural gas in the country.
ONGC signed a Share Purchase and Shareholders Agreement (SPSHA) with the Indian Gas Exchange (IGX) and the Indian Energy Exchange (IEX).
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NSE
NEW DELHI: State-owned Oil and Natural Gas Corp (
ONGC) on Wednesday said it has acquired a 5 per cent stake in Indian Gas Exchange (IGX), joining likes of Adani Total Gas, Torrent Gas and GAIL in nation s first gas exchange. The Indian Gas Exchange is a subsidiary of the
The Indian Energy Exchange (IEX) has divested 26 per cent of its equity holding in the Indian Gas Exchange (IGX) to National Stock Exchange of India (NSE). The transaction was through NSE’s wholly owned subsidiary NSE Investments. According to officials, NSE became a co-promoter and the second largest shareholder on the IGX gas-trading platform with the stake buy. IEX, an electricity trading platform, said that it separately shed a 5 per cent equity holding to Oil and Natural Gas Corporation (ONGC). IEX, which set up the IGX natural gas trading hub, had earlier sold 5 per cent stake each to GAIL (India), Adani Total Gas, and Torrent Gas. After the latest sale, IEX now has 54 per cent share holding remaining in IGX. This makes NSE and IEX the two promoters and the rest equity shareholders in the platform.