NSE Lowers Indian Gas Exchange Holding to 25% by Selling 1% Stake for Regulatory Compliance

As per The PTI report, The National Stock Exchange (NSE) has reduced its stake in the Indian Gas Exchange (IGX) by 1%, bringing its total shareholding down to 25%.  

This move ensures compliance with the Petroleum and Natural Gas Regulatory Board (PNGRB) guidelines which restrict single entity ownership in the exchange to 25%. 

Details of the Stake Reduction 

On April 27, 2026, the NSE executed a transaction to offload approximately 1% of its shares in IGX.  

The Indian Gas Exchange, recognised as the nation's premier online platform, facilitates the trading of natural gas through spot, forward, and delivery-based contracts.  

The adjustment in ownership aligns with regulations put forth by the PNGRB. 

History of NSE's Involvement with IGX 

In March 2021, NSE procured a 26% stake in IGX, investing over ₹19 crore to become a co-promoter following regulatory approval from PNGRB.  

This initial acquisition marked NSE's strategic entry into the natural gas trading sector, allowing it to directly influence the development and operations of IGX. 

NSE's Partnership and Future Plans with IGX 

Recently, NSE has collaborated with IGX to introduce exchange-traded derivatives pegged to domestic natural gas prices. As part of this partnership, NSE will initiate the launch of natural gas futures contracts linked to IGX's Gas IndeX of India (GIXI).  

The GIXI serves as a benchmark, reflecting real-time pricing based on transactions executed on the IGX platform. 

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Upcoming IPO of Indian Gas Exchange 

In tandem with these strategic manoeuvres, IGX has announced its intention to enter the capital markets through an initial public offering (IPO).  

The draft papers for this IPO are expected to be submitted to the Securities and Exchange Board of India (SEBI) by the second quarter of 2026. This initiative underlines IGX's ambition to expand its reach and engage a broader segment of investors. 

Conclusion 

By reducing its stake in the Indian Gas Exchange, the NSE aligns with regulatory norms, while continuing to play a pivotal role in enhancing the platform's offerings like natural gas futures contracts. This development marks a significant step in the evolution of natural gas trading in India. 

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