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GAIL IEX stake: GAIL acquires IEX's 5% stake in Indian Gas Exchange

New Delhi: The Indian Energy Exchange (IEX) on Tuesday said state-owned GAIL (India) Ltd has acquired five per cent stake of the IEX in its arm Indian Gas Exchange (IGX). However, the company did not divulge the details about the value of the transaction. Last month, Adani Total Gas and Torrent Gas had acquired five per cent stake each in the IGX. GAIL is the third strategic investor in IGX. IEX, India s premiere electricity exchange has further divested 5 per cent equity stake in the IGX to GAIL (India) Ltd, India s leading natural gas company, the IEX said in a statement.

GAIL acquires 5% stake from IEX in IGX

GAIL acquires 5% stake from IEX in IGX Posted On: 2021-02-09 04:16:34 (Time Zone: Arizona, USA) The Indian Energy Exchange (IEX), India s premiere electricity exchange, has today announced further divestment of 5% equity stake in the Indian Gas Exchange (IGX) to GAIL (India) Limited, India s leading natural gas company and one of the Maharatna Public Sector Undertakings (PSUs). Providing leadership for more than three decades since 1984, GAIL is India s largest gas pipeline, marketing, and processing company with diversified interests across the natural gas value chain of trading, transmission, LPG production & transmission, LNG re-gasification, Petrochemicals, city gas, E&P etc. The Company owns and operates a network of around 12,900 km of high-pressure trunk pipelines. The partnership and collaboration between IGX and GAIL is a significant development which will go a long way and add robust value addition in development of the gas markets in the country.