IOC acquires 4.93 per cent equity stake in Indian Gas Exchange

MUMBAI: Indian Oil Corporation Limited (IOCL) said on Tuesday it has acquired a 4.93 per cent equity share in Indian Gas Exchange Limited, the country’s first automated national level gas exchange.
The Board of Directors of Indian Oil approved the deal at its meeting held on December 20, Indian Oil said in a regulatory filing to the Bombay Stock Exchange.
“The Board of Indian Oil at its meeting held on 20 December 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),” the company said in a statement.