The Indian Energy Exchange (IEX) on March 10 said it has divested 26% equity holding in its subsidiary Indian Gas Exchange (IGX) to the National Stock Exchange of India. IEX has also sold 5% equity to state-run explorer ONGC. 

IGX is India's first gas exchange after it secured authorisation from Petroleum and Natural Gas Regulatory Board (PNGRB) in December last year. IEX recently announced the strategic investments of 5% each by leading players in the gas value chain – Adani Total Gas, Torrent Gas, and Gail in IGX.  

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According to IEX, IGX has an eco-system of more than 6,500 market participants which includes all the distribution utilities in the country, the power generators as well as more than 4,500 open access consumers. The IGX offers trade in five contracts, including daily, weekly, weekday, fortnightly, and monthly, at three physical hubs - Hazira and Dahej in Gujarat and KG basin in Andhra Pradesh. It has 500 registered clients and 15 members. 

IEX is India's leading automated electricity trading platform.