State-owned Indian Oil Corporation (IOC) on Tuesday said it has acquired a nearly 5 per cent stake in Indian Gas Exchange Ltd – the country’s first automated national level exchange for the trading of natural gas.
IOC joins the likes of oil and gas explorer ONGC, gas utility GAIL Torrent Gas Pvt Ltd and Adani Total Gas Ltd which already have acquired 5 per cent equity each in IGX.
“It is hereby informed that the Board of IndianOil at its meeting held on December 20, 2021 has accorded approval for the acquisition of 36,93,750 equity shares of the face value of Rs 10 each equivalent to 4.93 per cent of the share capital in Indian Gas Exchange Limited (IGX),” IOC said in an exchange filing.
