FTIL enters pact with Rakesh Jhunjhunwala, to exit MCX-SX

MUMBAI: FTIL has entered an agreement to sell its stake and warrants in stock bourse MCX -SX to billionaire investor Rakesh Jhunjhunwala.

It has also entered into separate warrant purchase agreements with Edelweiss Financial Services and a clutch of other investors. The agreement will result in FTIL divesting 2.7 crore shares and around 56 .2 crore warrants under the agreements for Rs 88.41 crore. FTIL has been found unfit to hold shares in bourses following a Rs 5,600 crore scam at its subsidiary NSEL, an order that it has challenged.