IOCL acquires 4.93% equity stake in Indian Gas Exchange

The Indian Oil Corporation Limited (IOCL) said on Tuesday that it has acquired a 4.93% stake in Indian Gas Exchange Limited, India's first automated national level gas exchange. "The Board...accorded approval for acquisition of 36,93,750 shares with face value of ₹10 each," IOCL said in a statement. Indian Gas Exchange Limited is regulated by Petroleum and Natural Gas Regulatory Board.