The National Stock Exchange(NSE) is probable to make a purchase of at least 26% stake in the Indian Gas Exchange (IGX), a subsidiary of the Indian Energy Exchange (IEX), Moneycontrol reported.
According to a source, the proposal has already received clearance from the board of NSE and has also approached markets regulator SEBI for the same.
The source aware of the matter also added that the deal in talks has also received approval from Petroleum and Natural Gas Regulatory Board (PNGRB) and is in an advanced stage.
“Though the initial plan by NSE was to set up a gas exchange, for which SEBI had already given a nod, it is now looking to pick up 26 percent in the established IGX,” the source told Moneycontrol.