Indian Oil acquires 4.9% stake in national gas exchange IGX

Mumbai-based, publicly listed Indian Oil Corporation has acquired a 4.93% stake in New Delhi-based Indian Gas Exchange (IGX). It has picked up 36,93,750 equity shares of INR 10 each. IGX is the nation's first automated national level gas exchange, which aims to ensure transparent price discovery in natural gas and facilitates growth of natural gas in India's energy basket.