Financial Tech sells 5% stake in MCX-SX to IFCI for Rs 250 cr
Financial Tech, a promoter firm of MCX-SX, sold its five per cent stake in MCX-SX to IFCI at Rs 35 a piece, the company said in a filing to the Bombay Stock Exchange (BSE).
By PTI |
MUMBAI: Financial Technologies India (FTIL) has sold its five per cent stake in Multi Commodity Stock Exchange (MCX-SX) to non-banking finance company IFCI through open market transactions for around Rs 250 crore.
Financial Tech, a promoter firm of MCX-SX, sold its five per cent stake in MCX-SX to IFCI at Rs 35 a piece, the company said in a filing to the Bombay Stock Exchange (BSE).
"This sale has been done to comply with the regulatory requirements and is the first divestment of the secondary sale process initiated by the company," Financial Tech said.
According to market sources, the value of deal is around Rs 250 crore.
Post the transaction, Financial Tech now holds a 42 per cent stake in MCX-SX against a 47 per cent earlier, they said.
Last month, Financial Tech had divested a 6.48 per cent stake through issue of fresh equity to Union Bank of India and Bank of India at a price of Rs 10 per share aggregating to Rs 87.5 crore.
The sale was a part of its 18 per cent divestment plan with public and private sector banks in the first round of its primary offering.
Further, the holding company of MCX-SX had said it would divest an additional 11.52 per cent stake with other prominent public and private banks.
Financial Tech, a promoter firm of MCX-SX, sold its five per cent stake in MCX-SX to IFCI at Rs 35 a piece, the company said in a filing to the Bombay Stock Exchange (BSE).
"This sale has been done to comply with the regulatory requirements and is the first divestment of the secondary sale process initiated by the company," Financial Tech said.
According to market sources, the value of deal is around Rs 250 crore.
Post the transaction, Financial Tech now holds a 42 per cent stake in MCX-SX against a 47 per cent earlier, they said.
Last month, Financial Tech had divested a 6.48 per cent stake through issue of fresh equity to Union Bank of India and Bank of India at a price of Rs 10 per share aggregating to Rs 87.5 crore.
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The sale was a part of its 18 per cent divestment plan with public and private sector banks in the first round of its primary offering.
Further, the holding company of MCX-SX had said it would divest an additional 11.52 per cent stake with other prominent public and private banks.
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