FTIL's exit from MCX-SX is complete
The company has concluded the transaction relating to the sale of its stake in MCX-SX and received entire consideration for the same and has completely exited MCX-SX.
By PTI |
NEW DELHI: Crisis-hit Financial Technologies India Ltd (FTIL) today said it has completed the sale of its entire 5 per cent stake in MCX-SX for nearly Rs 89 crore, thus exiting the bourse.
In a BSE filing, FTIL said: "The company has concluded the transaction relating to the sale of its stake in MCX-SX and received entire consideration for the same and has completely exited MCX-SX".
MCX-SX was recently renamed as Metropolitan Stock Exchange.
In November last year, FTIL had signed a pact with ace investor Rakesh Jhunjhunwala, financial major Edelweiss and others to sell its entire 5 per cent stake in MCX-SX.
FTIL has been in trouble ever since the Rs 5,600-crore payment scam surfaced at group firm NSEL in July 2013.
The group has started exiting the exchange business in India and abroad after market regulator FMC in December 2013 declared FTIL and its founder Jignesh Shah as "not fit and proper" to run any exchange in light of the scam.
FTIL has already exited MCX, IEX and overseas bourses Singapore Merchantile Exchange (SMX) and Bourse Africa.
It is focusing on its core technology business, post exit.
In a BSE filing, FTIL said: "The company has concluded the transaction relating to the sale of its stake in MCX-SX and received entire consideration for the same and has completely exited MCX-SX".
MCX-SX was recently renamed as Metropolitan Stock Exchange.
In November last year, FTIL had signed a pact with ace investor Rakesh Jhunjhunwala, financial major Edelweiss and others to sell its entire 5 per cent stake in MCX-SX.
FTIL has been in trouble ever since the Rs 5,600-crore payment scam surfaced at group firm NSEL in July 2013.
The group has started exiting the exchange business in India and abroad after market regulator FMC in December 2013 declared FTIL and its founder Jignesh Shah as "not fit and proper" to run any exchange in light of the scam.
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FTIL has already exited MCX, IEX and overseas bourses Singapore Merchantile Exchange (SMX) and Bourse Africa.
It is focusing on its core technology business, post exit.
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