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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. ....
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. ....
Interview | IEX may bring down equity in Indian Gas Exchange to 25% in five years: Rajesh Kumar Mediratta, Director of IGX Indian Gas Exchange (IGX) Director Rajesh Kumar Mediratta said that the company is in talks with multiple players to be roped in as strategic partners. Image: Rajesh Kumar Mediratta, Director of IGX India is targeting rapid growth in natural gas’ share in the country’s energy basket from 6 percent now to 15 percent by 2030. In this pursuit of becoming a gas-based economy, many believe that there is a need for a transparent and market-driven pricing mechanism and India’s first gas exchange the Indian Gas Exchange (IGX) is considered as a step towards achieving this goal. ....
EXCLUSIVE: NSE to pick up 26% stake in Indian Gas Exchange The exchange is considered to be an alternative to the gas spot markets in India that provides ease of trading, payment security, and greater access to the market for its users. February 11, 2021 / 02:11 PM IST Indian Energy Exchange | Westbridge Crossover Fund LLC sold 18,65,329 shares at Rs 165 per share. (Image: Moneycontrol) After Adani Total Gas, Torrent Gas, and Gail (India) acquired 5 percent stake each in the Indian Gas Exchange (IGX), an arm of the Indian Energy Exchange (IEX), National Stock Exchange (NSE) is likely to acquire at least 26 percent stake in IGX. ....