Financial Technologies (India) Ltd. (FTIL), on Monday, sold 5 per cent stake in Indian Energy Exchange (IEX) for Rs.72.89 crore to Golden Oak (Mauritius) Ltd., to comply with the regulatory norms. At pesent, FTIL has 33.49 per cent stake in IEX. Post-this transaction, the shareholding of the company will come down to 28.49 per cent,FTIL said in a BSE filing.
As per this deal, total valuation of IEX came to Rs.1,620 crore, sources said, adding that FTIL’s stake in IEX would further come down to 25.64 per cent after conversion of compulsorily convertible preference shares (CCPS) held by other shareholders.
