State-run Gail, India’s biggest gas marketing firm, has bought 5% of Indian Gas Exchange (IGX), the country’s first automated delivery-based gas trading platform, IGX’s parent company Indian Energy Exchange (IEX) said in a February 9 statement. 

Launched on June 15 last year, IGX became the first gas exchange to receive authorisation from Petroleum and Natural Gas Regulatory Board under recently notified Gas Exchange Regulations 2020. 

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The exchange now has 15 members and more than 500 registered clients, IEX said. It operates from three physical hubs –Hazira and Dahej in Gujarat and KG basin in Andhra Pradesh. 

Indian gas retailers Adani Gas and Torrent Gas each bought a 5% stake in IGX last month.