Indian Oil Corporation Limited (IOCL) has announced that it has acquired a 4.93 per cent equity share in Indian Gas Exchange Limited – the country’s first automated national level gas exchange. The Board of Indian Oil at its meeting held on 20 December 2021 has accorded approval for the acquisition of 36,93,750 equity shares of the face value of Rs. 10/- each equivalent to 4.93 per cent of the share capital in Indian Gas Exchange Limited (IGX).
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
The acquisition of an equity stake in IGX is a strategic opportunity for the country’s top oil refiner to become part of India’s natural gas market. IGX is a subsidiary of the Indian Energy Exchange (IEX). Indian Gas Exchange is the country’s first automated national level gas exchange, that ensures transparent price discovery in natural gas and facilitates the growth of natural gas in India’s energy basket.
Important takeaways for all competitive exams:
A brief yet poignant scene in the hit series Family Man 3 has opened a…
India is often called the Land of Festivals because it celebrates countless festivals throughout the…
Simone Tata, a transformative figure in India’s business landscape and the step-mother of Ratan Tata,…
IndiGo Airlines is one of India’s most popular and trusted airlines. It is known for…
Many countries have different names in different languages. One such country is Germany, which is…
Northeast India is a region full of beautiful landscapes, green forests and rich culture. A…