Indian Gas Exchange Limited operates a unique electronic marketplace. The firm is the first automated gas trading platform in India. The company uses physical delivery contracts to trade natural gas. This physical model differs from many international exchanges. Foreign gas exchanges often settle their trading contracts with money. The domestic exchange offers physical delivery across multiple hubs. These hubs are connected to the national gas pipeline network. The business also provides forward contracts. These contracts can have tenures of up to six months.
The company serves a wide range of industrial stakeholders. It works with domestic gas producers and city gas distributors. The business also supports gas marketing firms and power generation companies. Fertilizer producers and refineries use this platform. LNG terminal operators and industrial consumers are also clients.
The business started its corporate journey in November 2019. It launched its electronic trading portal in June 2020. The Petroleum and Natural Gas Regulatory Board gave its official approval in December 2020.
The company has shared the final quota details for the public offering. Qualified institutional buyers will receive 50 percent of the net offer. Individual retail investors will get 35 percent of the shares. The remaining 15 percent of the shares will go to non-institutional buyers. Book-running managers for this issue are Axis Capital and Motilal Oswal Investment Advisors. KFin Technologies is working as the registrar.
Source: Upwork
Disclaimer: This news report covers the history of a gas trading platform. Readers should perform independent research before making any financial commitments in the share market.