Financial Technologies enters into SPA to sell 1.58% stake in IEX for Rs 33.96 crore

Financial Technologies enters into SPA to sell 1.58% stake in IEX for Rs 33.96 crore

The company has entered into SPA with Madison India Opportunities III, for sale of 478,834 fully diluted basis equity shares of Rs 10 each

Financial Technologies (India) (FTIL) has entered into a share purchase agreement (SPA) with Madison India Opportunities III, for sale of 478,834 comprising 1.58% stake in Indian Energy Exchange (IEX) on fully diluted basis equity shares of Rs 10 each of IEX for an aggregate consideration of Rs 33.96 crore. The said transaction is subject to fulfillment of certain condition precedents.

FTIL is a flagship company of the Financial Technologies Group. It provides technology solutions and domain expertise for digital transactions and financial markets across all asset class including equity, commodities, currency and debt.

Source : Ventura