M&A
NSE sells 1% stake in Indian Gas Exchange to comply with norms
The National Stock Exchange (NSE) has sold a 1% stake in Noida-based Indian Gas Exchange (IGX) , the country's first online delivery-based trading platform for natural gas, to comply with regulatory requirements set by the Petroleum and Natural Gas Regulatory Board (PNGRB). The norm stipulates that no single entity should hold more than 25% in the exchange. Following this divestment, NSE's shareholding in IGX now stands at 25%, from the previous 26% stake.Founded in 2020, Indian Gas Exchange operates an electronic trading platform for natural gas, providing spot, forward, and delivery-based contracts.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
