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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. ....
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. ....
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