Financial Technologies (India) has entered into a Share Purchase Agreement (SPA) on March 24, 2014 for sale of 13,64,787 equity shares of face value of Rs 10 each of IEX to Golden Oak (Mauritius), for a consideration of Rs 72.89 crore. Subsequent to the above said transaction, the shareholding of the company in IEX will be 28.49% and on fully diluted basis 25.64%.
The above said sale of shares was to comply with Central Electricity Regulatory Commission (CERC) Regulations to bring down the company’s stake in IEX to 25%. Accordingly, the company has consummated the above said transaction.
Financial Technologies 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.
