Financial Technologies up on stake sale in IEX

FTIL said it has concluded the sale of 11% equity stake in Indian Energy Exchange Ltd on fully diluted basis

Shares of Financial Technologies were up nearly 2% at Rs 115.50 on the Bombay Stock Exchange after the company said it has concluded the sale of 11% equity stake in Indian Energy Exchange Ltd on fully diluted basis.

The said 11% stake sale in IEX on fully diluted basis is with M/s DCB Power Ventures Ltd and M/s Kiran Vyapar Ltd, and accordingly 33,36,149 equity shares has been transferred to the above two Purchasers from the Escrow Account with Axis Bank Ltd, the company said in a release.

With the conclusion of the above transaction, the Company has completed the sale of 13.06% stake in IEX, on fully diluted basis, the release added.

The stock opened at Rs 115.65 and touched a high of Rs 116.70. At 12:40pm, over 250,000 shares were traded on both the stock exchanges.