Indian Energy Exchange has informed that the Board of Directors in their meeting held on September 18, 2019 has considered and approved the incorporation of a wholly owned subsidiary company in India to undertake the business of developing a gas exchange for transacting, clearing and settling trades in various types of gas based contracts including all other forms/ types of energy, with an initial investment up to Rs 10 crores in the form of subscribed and paid-up capital. The Company shall furnish the necessary details upon occurrence of events, i.e. formation of new Company.
The above information is a part of company’s filings submitted to BSE.
