English
Arabic
Chinese (Simplified)
Gujarati
Hindi
Marathi
Persian
Indian Energy Exchange (IEX) on Friday has clarified on a news item claiming that the exchange is in talks for the gas venture stake sale. IEX has intimated exchanges about its participation in Gail’s tender for expression of interest (EOI) in gas exchange.
The stock exchanges had sought clarification on an article appeared in “Newspaper-Business Line” dated August 05, 2020, captioned “Indian Energy Exchange plans minority stake sale in the gas venture: CEO”.
According to the news item, the largest electricity trading platform in India may sell as much as 49% in the venture in a series of deals, Rajiv Srivastava, CEO of IEX said in an interview. The first accord may be signed in three months, he said. State-run gas supplier GAIL India Ltd. in June said it was considering buying a stake.
On this news, IEX replied exchange saying, “The statement made in the referred news item was in response to query raised regarding draft regulations issued by the Petroleum and Natural Gas Regulatory Board (PNGRB) towards establishment and operation of the gas exchange that also define the requisite shareholding pattern for the gas exchanges. The said draft regulations are in the public domain”.
IEX further said, “In the discussion, in context of draft PNGRB regulations, it was informed that few entities have expressed interest in taking a stake in Indian Gas Exchange (currently a 100% subsidiary company). We like to confirm that no negotiation or decision has taken place by the Company on this matter”.
Further, IEX points out saying, “the Company has participated in the GAIL’s tender for Expression of Interest (“EOI”) for its Equity Participation in the Gas Exchange. The Company has not received any communication from GAIL till date on the status of its bid”.
At around 2.37 pm, the Gail stock was performing at Rs183.25 per piece down 2.03% on Sensex.