Financial Technologies Rallies 6% on Stake Sale

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Financial Technologies Rallies 6% on Stake Sale
Financial Technologies rallied more than 6% on Wednesday after the reports that it has signed a deal with topnotch investor Rakesh Jhunjhunwala, financial major Edelweiss and others.

Financial Technologies came under pressure after Jignesh Shah, chairman and group chief executive of Financial Technologies (India) Ltd was arrested after the NSELscam. FTIL was been found unfit to hold shares in bourses.

The report said that it will sale its 100% stake in MCX-SX comprising of 2,70,00,000 equity shares and 56,24,60,000 warrants for an aggregate consideration of Rs. 88,419 Crores.

However, the transaction is subject to fulfillment of certain condition precedents including regulatory approvals.

Shares of the Financial Technologies were seen trading higher by 5.97% at Rs 191.65 on BSE at 1.10 PM IST. It touched an intra-day high of Rs 194.50 during the trade.

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Read more about: financial technologies
Story first published: Wednesday, November 26, 2014, 13:26 [IST]
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