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IEX divests 4.93% strategic stake in IGX to IOC

19 Jan 2022 Evaluate

Indian Energy Exchange (IEX) has divested 4.93% strategic stake in Indian Gas Exchange (IGX) to Indian Oil Corporation (IOC). The move augurs well in the joint endeavour to build the gas market in India and is aligned with the government's vision of accelerating the share of gas in the energy mix to 15 per cent by 2030.

IEX and NSE (National Stock Exchange) are promoters in IGX and other strategic investors in IGX include GAIL (India), ONGC, Torrent Gas and Adani Total Gas.

IEX is India’s first and no 1 electricity exchange. It is a transparent, neutral, demutualised, nationwide, automated, online electricity trading platform. It enables efficient price discovery and price risk management for participants of the electricity market including industries eligible for open access through anonymous platform.

Peers
Company Name CMP
NTPC 316.70
Tata Power 350.00
Adani Power 196.95
Power Grid Corpn. 254.65
Adani Energy Solut. 1325.50
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