GAIL acquires 5% stake in IGX to become third strategic investor

Buys stake from Indian Energy Exchange (IEX)

GAIL (India) Limited has acquired 5 per cent stake in the Indian Gas Exchange (IGX). The Maharatna Public Sector Undertaking has bought this stake from the Indian Energy Exchange (IEX).

Launched on June 15, 2020 as a gas trading platform, IGX has since become the first gas exchange to receive authorization from Petroleum and Natural Gas Regulatory Board (PNGRB) under the recently notified Gas Exchange Regulations 2020.

IGX was founded as a wholly-owned subsidiary of the Indian Energy Exchange (IEX). On January 22, IEX had announced strategic investments by Adani Total Gas and Torrent Gas in IGX that acquired 5 per cent