Financial Technologies India completes sale of stake in MCX Stock Exchange Ltd

Financial Technologies (India) Ltd. ("FTIL") on November 25, 2014, entered into a Share and Warrant Purchase Agreement with Dr. Rakesh Jhunjhunwala and separate Warrant Purchase Agreements with M/s. Edelweiss Financial Services Limited, M/s. Trust Investment Advisors Pvt. Ltd. Ms. Viral A. Parikh, M/s. Nemish S. Shah H.U.F., M/s, Derive Investments, Mr. Kalpraj Dharamshi, Mr. Dhanesh Sumatilal Shah, Mr. Uday Shah, Ms. Madhuri Kela, Ms. Renuka Shah, M/s. SKS Capital & Research Pvt. Ltd. and Ms. Madhu Vadera Jayakumar for sale of its 100% stake in MCX-SX comprising of 2,70,00,000 equity shares and 56,24,60,000 warrants for an aggregate consideration of Rs. 88,419 Crores.

The said transaction is subject to fulfillment of certain condition precedents including regulatory approvals.

Post completion of the above said transaction, the Company would have completely exited MCX-SX.

Shares of FINANCIAL TECHNOLOGIES (INDIA) LTD. was last trading in BSE at Rs.189.05 as compared to the previous close of Rs. 180.85. The total number of shares traded during the day was 318331 in over 11352 trades.

The stock hit an intraday high of Rs. 194.5 and intraday low of 187.15. The net turnover during the day was Rs. 60658225.

Source : Equity Bulls

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