FTIL shares up over 4 per cent on sale of Mauritius-based bourse
In terms of volume, 3.19 lakh shares of the company changed hands at the BSE, while over 8 lakh shares were traded at the NSE during the day.
By PTI | Updated:
MUMBAI: Shares of Financial Technologies (India) Ltd (FTIL) today rose by over 4 per cent after the company signed a pact to sell its Mauritius-based exchange for $ 40.5 million (about Rs 250 crore).
FTIL scrip jumped 4.31 per cent to settle at Rs 189.90 on the BSE. During the day, it gained 6.83 per cent to Rs 194.50.
At the NSE, the stock was up 4.42 per cent to end at Rs 190.
In terms of volume, 3.19 lakh shares of the company changed hands at the BSE, while over 8 lakh shares were traded at the NSE during the day.
FTIL decided to exit the exchange business and focus on its core technology business after the Rs 5,600-crore scam surfaced at its Indian subsidiary NSEL last year.
In a filing to the BSE yesterday, Jignesh Shah-led FTIL said the Board of its Mauritius-based subsidiary FT Group Investments Pvt Ltd has "approved the sale of 100 per cent of its stake in Bourse Africa Ltd, Mauritius to Continental Africa Holdings Ltd, Mauritius, for $ 40.5 million".
The Mauritius arm yesterday signed a definitive agreement with Continental Africa Holdings. The deal is subject to certain customary closing conditions. The entire transaction is expected to be completed within the next 210 days, it had said.
FTIL scrip jumped 4.31 per cent to settle at Rs 189.90 on the BSE. During the day, it gained 6.83 per cent to Rs 194.50.
At the NSE, the stock was up 4.42 per cent to end at Rs 190.
In terms of volume, 3.19 lakh shares of the company changed hands at the BSE, while over 8 lakh shares were traded at the NSE during the day.
FTIL decided to exit the exchange business and focus on its core technology business after the Rs 5,600-crore scam surfaced at its Indian subsidiary NSEL last year.
In a filing to the BSE yesterday, Jignesh Shah-led FTIL said the Board of its Mauritius-based subsidiary FT Group Investments Pvt Ltd has "approved the sale of 100 per cent of its stake in Bourse Africa Ltd, Mauritius to Continental Africa Holdings Ltd, Mauritius, for $ 40.5 million".
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The Mauritius arm yesterday signed a definitive agreement with Continental Africa Holdings. The deal is subject to certain customary closing conditions. The entire transaction is expected to be completed within the next 210 days, it had said.
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