GAIL signed purchase agreement with IGX & IEX: acquires 5% stake in IGX
New Delhi: GAIL signed purchase agreement with IGX & IEX: acquires 5% stake in IGX – Gas Authority India Limited (GAIL) has marked a Share Purchase and Shareholders Agreement (SPSHA) with Indian Gas Exchange Limited (IGX) and Indian Energy Exchange Limited (IEX), for the obtaining of a 5% value stake in IGX. GAIL is taking a stab at moving India towards a gas-based economy.
IGX is India’s originally mechanized conveyance based gas exchanging stage. GAIL is as of now an individual from IGX and has now additionally joined as an investor.
Indian Gas Exchange Ltd. (IGX) is India’s previously computerized public level Gas Exchange to advance and support an effective and vigorous Gas market and to encourage gas exchanging the country. The trade includes numerous purchasers and dealers to exchange spot and forward agreements at assigned actual center points.
IGX is an impartial and straightforward commercial center where the two purchasers and merchants exchange Gas as the hidden item. The agreements exchanged at Exchange are for mandatory explicit actual conveyance and settlement of the exchange are dependent upon the condition that such agreements are non-adaptable in nature and with no netting-off in this manner. IGX empowers productive and serious revelation of gas costs and one of its most significant destinations is additionally to keep up market honesty.
Read more Public Sector News on India Frontline.