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:
The state of Uttar Pradesh, known for its rich history and culture, is home to…
On November 18, 2024, Brazilian President Luiz Inácio Lula da Silva officially launched the Global…
The State Bank of India (SBI) celebrated the centenary of its iconic Horniman Circle Branch…
Harshit Mahimkar and Prisha Shah dominated the Maharashtra State Open Badminton Tournament 2024, clinching both…
The All Living Things Environmental Film Festival (ALT EFF) returns to Mumbai for its 2024…
Tata Power has entered into a strategic partnership with Druk Green Power Corporation Ltd (DGPC)…