NSE Cuts Stake In Indian Gas Exchange To Meet PNGRB Norms

The National Stock Exchange has divested nearly 1% shares in Indian Gas Exchange to lower its ownership to 25%, meeting regulatory guidelines laid down by the Petroleum & Natural Gas Regulatory Board, sources reported.

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This has helped NSE comply with PNGRB standards, under which ownership of an individual in gas exchange cannot exceed 25%.

Stake Dilution Details

Following the stake sale, NSE’s holding in IGX stands at 25%. The exchange had earlier acquired a 26% stake in IGX for over ₹19 crore in March 2021, becoming a co-promoter after receiving approvals from PNGRB.

IGX operates as India’s first online delivery-based natural gas trading platform, offering spot, forward, and delivery-based contracts, according to official information.

Recent Developments In Partnership

Earlier in April 2026, NSE and IGX entered into a collaboration to introduce exchange-traded derivatives linked to domestic natural gas prices. As part of this initiative, NSE plans to launch natural gas futures contracts based on IGX’s benchmark index, the Gas IndeX of India (GIXI), which reflects prices derived from trades executed on the platform.

IPO Plans Underway

IGX is also preparing to access capital markets. According to statements made in January 2026 by Managing Director and CEO Rajesh Kumar Mediratta, the exchange plans to launch an initial public offering by December 2026.

The Securities and Exchange Board of India is expected to get the draft papers in the second quarter of 2026.

According to previous communications by the Indian Energy Exchange, the IPO will take place as an offer for sale by qualified shareholders, with equity shares of ₹10 face value.

Regulatory Compliance Pursued

The sale of stakes is part of continuing endeavors by the exchange to comply with regulatory requirements for ownership structure specific to each industry. PNGRB guidelines seek to maintain diverse ownership as well as transparency in the functioning of gas exchanges.

Now that the dilution process is behind IGX and with the development of new products, the Indian Gas Exchange is set to enhance its participation in India’s natural gas market.