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Oil and Natural Gas Corp acquires 5% stake in Indian Gas Exchange

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 IEX - India s premier nationwide, automated electricity trading platform. ONGC signed a Share Purchase and Shareholders Agreement (SPSHA) with the Indian Gas Exchange (IGX) and the Indian Energy Exchange (IEX) in the presence of Oil Secretary Tarun Kapoor and ONGC head Shashi Shanker, the company said in a statement. It, however, did not give the value of the deal.

NSE acquires 26% stake in IGX

NSE acquires 26% stake in IGX SECTIONS Last Updated: Mar 10, 2021, 04:36 PM IST Share Synopsis IGC has over 500 registered clients and 15 members and has cumulatively traded 100,000 million metric British thermal units of gas so far. Agencies Adani-Total Gas, Torrent Gas, and GAIL (India) already own a 5% stake each in the exchange. IGX, a unit of IEX, has recently received regulatory clearance and begun gas trading. Related NSE Explore Now New Delhi: National Stock Exchange (NSE) has acquired a 26% equity stake in the Indian Gas Exchange (IGX), the country’s first physical delivery-based gas exchange. ONGC has also bought a 5% stake in the exchange.

IGX offloads 26 pc stake to NSE, 5 pc to ONGC

IGX offloads 26 pc stake to NSE, 5 pc to ONGC
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