HomeBusinessIEX: Adani Total Gas, Torrent Gas acquires 5% stake each in IGX

IEX: Adani Total Gas, Torrent Gas acquires 5% stake each in IGX

Most Read

Adani Total Gas and Torrent Gas have acquired a 5 percent share each in the Indian Gas Exchange (IGX).

In a filing with the exchange, Indian Energy Exchange said, “Adani Total Gas and Torrent Gas has acquired 5 percent shares each in its subsidiary company Indian Gas Exchange (IGX).”

- Advertisement -

Founded in June 2020 by Indian Energy Exchange (IEX), Indian Gas Exchange (IGX) is an online trading platform for physical delivery of natural gas and provides a neutral and transparent marketplace to multiple buyers and sellers to trade in spot and forward contracts at designated physical hubs.

Speaking on the acquisition, Suresh P Manglani, CEO, Adani Total Gas said, “The Indian Gas Exchange is amply equipped to transform the gas sector in the coming years as it will enable efficient and competitive gas pricing and help in securing equitable distribution of natural gas in the country.”

“I envision to play a key role in the development of India’s gas market in sync with the government’s vision to increase the share of gas in the energy mix from 6% at present to 15% by 2030,” IGX in its statement said.

“IGX can play a catalytic role for India’s gas market and will stimulate demand, increase availability and ensure competitive prices,” said Jinal Mehta, Director, Torrent Gas.

Subscribe To Morning Newsletters

Sign up to receive the latest news stories, exclusive interviews, and more in your inbox.

We don’t spam! Read our privacy policy for more info.

Editor's Pick

Krishna Mali
Krishna Mali
Founder, CEO & Group Editor of TechGraph.

Read More Stories

SKF Showcases Intelligent & Clean Solutions for the Textile Industry at International Textile Machinery Exhibition (ITME) 2022

SKF India, the country's leading technology and solutions provider of bearings and services will showcase innovative products and solutions...

OneRare and Cornitos: Bringing the Magic of Cornitos to the Foodverse

Cornitos is a leader in the Snack category and has always strived to give its fans and patrons the...

Chitkara University Signs MoU with NEC Corporation India to Transform Learning in the Field of AI/ML

Chitkara University announced its collaboration with NEC Corporation India, a wholly owned subsidiary of NEC Corporation, for a comprehensive...

Role of skills-based hiring in promoting inclusive economic growth in India

In recent years, India's employment landscape has experienced a profound shift, with an increasing emphasis on skills-based hiring. This...

Global Cryptocurrency Regulations: Impact on Industry and Investor Behavior in 2024

The world of cryptocurrency has seen remarkable growth and evolution since its inception, transitioning from obscure digital assets to...

Interview: Modernizing Field Sales Operations With Delta Sales App Director Ekta Golchha

Speaking with TechGraph, Ekta Golchha, Founder and Director of Delta Sales App underscores the app's innovative role in optimizing...