GAIL (India) Limited (NSEI:GAIL) acquired 5% stake in Indian Gas Exchange Limited from Indian Energy Exchange Limited (BSE:540750) for INR 36.9 million on February 9, 2021. Under the terms GAIL (India) Limited (NSEI:GAIL) will acquire 3.6 million shares and pay INR 36.9 million. For the financial year ending March 31, 2020, Indian Gas Exchange Limited had turnover of INR 1 million and net worth of INR 78 million. Governmental or regulatory approvals are not applicable for the transaction. The transaction is expected to close within seven days from the date of execution of share purchase agreement.

GAIL (India) Limited (NSEI:GAIL) completed the acquisition of 5% stake in Indian Gas Exchange Limited from Indian Energy Exchange Limited (BSE:540750) on February 9, 2021.