NSE Offloads Stake in IGX Ahead of Natural Gas IPO
The National Stock Exchange (NSE) recently offloaded about 1% of its stake in the Indian Gas Exchange (IGX) to align with regulatory norms. This reduction brings NSE's stake to 25% in IGX, India's first online natural gas trading platform. An IPO for IGX is in the works for 2026.
The National Stock Exchange has sold around 1% of its stake in Indian Gas Exchange, the country's pioneering online natural gas trading platform, to meet regulatory standards mandated by the Petroleum and Natural Gas Regulatory Board.
This stake sale was necessary to comply with the PNGRB rule that prevents any single entity from holding more than a 25% share in the exchange. After the sale, NSE's holding in IGX is now 25%.
Furthermore, IGX, co-promoted by NSE since March 2021, plans to go public with an IPO slated for 2026, as the exchange gears up to expand its footprint in the capital markets.
(With inputs from agencies.)
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