IEX onboards 3rd strategic investor in IGX

New Delhi: The country's largest electricity exchange, the Indian Energy Exchange (IEX), has entered into a strategic partnership with a third investor for its new platform.

Gas utility GAIL has picked up 5 per cent equity stake in the Indian Gas Exchange (IGX), marking it the third investor to participate in the platform. On January 22, Adani Total Gas and Torrent Gas also acquired 5 per cent equity stake each.

IGX's participation with GAIL is expected to lead to robust value addition in the development of the gas markets in the country. Launched on June 15, 2020 as a gas-trading platform, IGX has now become the first gas exchange to receive authorisation from Petroleum and Natural Gas Regulatory Board (PNGRB) under recently notified Gas Exchange Regulations, 2020.