Indian Energy Exchange (IEX) announced on Monday that its wholly-owned subsidiary, Indian Coal Exchange Limited, has applied for a license from the Coal Controller Organisation (CCO) to establish a coal trading exchange. This marks the company's entry into the coal market.
The Coal Controller Organisation acts as the regulatory body for coal exchanges in India. As stated by the company in the exchange documentation, IEX incorporated Indian Coal Exchange on June 1 with an authorized share capital of 100 crore rupees.
Indian Coal Exchange will operate as a physical delivery coal trading exchange, offering a technological platform that brings together buyers and sellers on a single platform in accordance with the Coal Exchange Rules 2026.
The exchange will facilitate coal trading at specified delivery points, which, according to IEX, will enable price discovery and expand market access. The emergence of this new exchange signifies the entry of the IEX Group into the coal market and expands its presence in the energy value chain.
Currently, the group manages its power exchange business, as well as Indian Gas Exchange (IGX), a platform for natural gas trading, and facilitates the issuance of I-RECs in India. IEX operates a nationwide automated trading platform for physical delivery of electricity, renewable energy, renewable energy certificates, and energy saving certificates. The company has been listed on NSE and BSE since October 2017 and is regulated by the Central Electricity Regulatory Commission.