Torrent Gas Private Limited has signed a share purchase agreement with
Indian Energy Exchange to acquire stake in Indian Gas Exchange Limited.
IGX is an authorised Gas Exchange regulated by the Petroleum and Natural Gas Regulatory Board in accordance with the provisions of the Petroleum and Natural Gas Regulatory Board Regulations, 2020.
The acquisition of 5% stake i.e. 36,93,750 shares of Rs10 each would cost the company Rs3,69,37,500.
IGX reported a turnover for FY20 at Rs0.10cr, while its networth on March 31, 2020 stood at Rs7,80cr.
IEX has also sold 5% stake of IGX to
Adani Total Gas Limited for the same consideration amount.