63 Moons Technologies Ltd.

Financial Technologies (FT) has entered into pact with Rakesh Jhunjhunwala to offload its entire stake and warrants in MCX Stock Exchange for Rs 88 crore. FT has sold 270, 00,000 equity shares, constituting 4.99% of the equity capital of the exchange to Rakesh Jhunjhunwala. 

It also signed a separate pact with a group of 12 individuals and companies to offload 5624,60,000 warrants. With the current deal, the company which was declared “not fit to hold stake in exchanges” has divested its entire investment in the exchange business. The transaction is subject to fulfillment of certain conditions, including regulatory approvals.

Further, this development will increase the exchange's net-worth to Rs 160 crore from Rs 110 crore and help meet SEBI minimum worth criterion of Rs 100 crore.

MCX, the leading commodity bourse, largely offers futures trading in non-agricultural commodities. The exchange contributes maximum business to the total turnover of the commodity futures market.