Financial Technologies (India) is locked in upper circuit of 5% at Rs 379 after the company said that it sold its entire stake in National Bulk Handling Corporation (NBHC) to IVF Trustee Company for about Rs 242 crore.
"Financial Technologies and all other shareholders of NBHC have entered into share purchase agreement for sale of 100% equity ownership in NBHC, a subsidiary of the company, to IVF Trustee Company, the sole Trustee of India Value Fund IV, for Rs 241.74 crore," the company said in a regulatory filing.
The company said that the transaction is likely to be completed between April 15 and April 30, subject to the shareholders' approval through postal ballot.
The stock opened at Rs 359 and touched a low of Rs 358 on the NSE. A combined 1.09 million shares changed hands on the counter so far and there are pending buy orders for 168,701 shares on the NSE and BSE.
"Financial Technologies and all other shareholders of NBHC have entered into share purchase agreement for sale of 100% equity ownership in NBHC, a subsidiary of the company, to IVF Trustee Company, the sole Trustee of India Value Fund IV, for Rs 241.74 crore," the company said in a regulatory filing.
The company said that the transaction is likely to be completed between April 15 and April 30, subject to the shareholders' approval through postal ballot.
The stock opened at Rs 359 and touched a low of Rs 358 on the NSE. A combined 1.09 million shares changed hands on the counter so far and there are pending buy orders for 168,701 shares on the NSE and BSE.
