The National Stock Exchange (NSE) is expected to acquire at least 26 percent stake in the Indian Gas Exchange (IGX), an arm of the Indian Energy Exchange (IEX). As per reports, the deal has got clearance from the Petroleum and Natural Gas Regulatory Board (PNGRB) and is in an advanced stage. NSE will become the fourth investor in IGX after Adani Total Gas, Torrent Gas, and Gail (India) Limited acquired five percent stake each in the gas exchange platform.
IGX is a gas trading platform started by IEX on June 15, 2020, and has been operating as the Gas Exchange since December 2020. IGX is India’s first gas exchange and has received authorisation from PNGRB based on the recently notified Gas Exchange Regulations 2020.