Jignesh Shah-led FTIL operates commodity bourse MCX, stock exchange MCX-SX and the crisis-hit National Spot Exchange.
In a filing to the BSE, FTIL said: "The transaction, relating to sale of Singapore Mercantile Exchange Pte Ltd (SMX) and Singapore Mercantile Exchange Clearing Corporation Pte Ltd (SMX CC) by Financial Technologies Singapore Pte Ltd, to ICE Singapore Holdings Pte Ltd (ICE) has been completed."
FTIL held the stake in the Singapore multi-product exchange through a wholly-owned subsidiary Financial Technologies Singapore Pte Ltd.
The agreement was also signed to sell SMX wholly-owned subsidiary SMX Clearing Corporation (SMXCC) in an all-cash transaction.
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The company had said that it would utilise the sale proceeds towards repayment of outstanding debt in external commercial borrowing and foreign currency loans subject to regulatory approvals, if any. Pursuant to this, FTIL will become debt/lien-free.
FTIL has a debt of Rs 1,223.75 crore in External Commercial Borrowings and foreign currency loans, as per its annual report 2012-13.
FTIL promoted National Spot Exchange Ltd (NSEL) is engulfed in 5,600-crore payment crisis after the bourse stopped operations on government directive following violation of certain norms.
After the NSEL crisis came to the fore, FTIL and its group firms like MCX-SX came under scanner of market regulator Sebi. Top NSEL officials have been arrested and different investigative agencies are probing the case.