In a move aligned with regulatory compliance, National Stock Exchange (NSE) has offloaded around 1% stake in Indian Gas Exchange (IGX), reducing its holding to the mandated 25% threshold set by the Petroleum and Natural Gas Regulatory Board (PNGRB).
Key Highlights
- National Stock Exchange reduces IGX stake to 25% to comply with PNGRB norms ahead of IPO plans.
- IGX prepares for December 2026 IPO with OFS route and SEBI filing expected soon.
The divestment ensures compliance with PNGRB guidelines, which require that no single entity owns more than 25% in gas exchange, thereby promoting transparency and diversified ownership in the sector.
NSE had initially acquired a 26% stake in IGX for over Rs19 crore in March 2021, becoming a co-promoter after receiving regulatory approvals. Following the latest stake sale, its shareholding now stands at 25%, in line with regulatory norms.
IGX, India’s first online delivery-based natural gas trading platform, facilitates spot, forward, and delivery-based contracts, playing a key role in developing a transparent gas market ecosystem in the country.
The stake dilution comes amid deeper collaboration between NSE and IGX. Earlier this month, both entities partnered to introduce exchange-traded derivatives based on domestic natural gas prices. NSE is set to launch natural gas futures contracts linked to IGX’s benchmark Gas IndeX of India (GIXI), which reflects real transaction-based pricing.
This development is expected to enhance price discovery, improve market liquidity, and strengthen India’s evolving natural gas trading ecosystem.
Also Read: NSE Partners with IGX to Launch Natural Gas Derivatives in India
IPO Plans and Future Outlook
IGX is also gearing up for a public market debut. The exchange plans to launch its initial public offering (IPO) by December 2026, with draft papers likely to be filed with the Securities and Exchange Board of India (SEBI) in the second quarter of the calendar year.
In a previous regulatory filing, National Stock Exchange stated, “The IPO will be undertaken by way of an offer for sale by certain existing and eligible shareholders, subject to market conditions, receipt of applicable approvals, regulatory clearances and other considerations.”
The move underscores NSE’s commitment to regulatory adherence while supporting IGX’s growth trajectory. With compliance in place and new product launches underway, IGX is well-positioned to expand its footprint in India’s natural gas market and attract investor interest ahead of its planned IPO.
