Adani Total Gas, Torrent Gas acquire 5% stake each in IGX
MUMBAI: Adani Total Gas and Torrent Gas have acquired a 5 per cent stake each in the Indian Gas Exchange (IGX), an arm of the Indian Energy Exchange NSE -3.18 % (IEX).
No financial details were provided by IEX. Launched in June last year, the IGX is an online trading platform that allows buyers and sellers of natural gas to trade in spot and short-term timelines (up to 30 days), as opposed to traditional contracts which last between six months to a year.
It received the nod from the Petroleum and Natural Gas Regulatory Board (PNGRB) in December 2020 to operate as India’s first authorised gas exchange platform.
