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Construction : Deals | August 2014 | Source : Construction Update

FTIL exits from MCX by selling 5 per cent stake

Financial Technologies India Ltd (FTIL) has exited from Multi Commodity Exchange of India (MCX) by selling its residual five per cent stake for Rs 2,000 million. The stake was bought by SBI life Insurance, IDFC and Reliance MF, among others. The holding was offloaded in the open market through bulk deals on the Bombay Stock Exchange and the National Stock Exchange. With this Financial Technologies India Ltd (FTIL) completely exits MCX, which it previously promoted, selling the 26 per cent stake for close to Rs 8,920 million. FTIL had announced it was selling a 15 per cent stake in MCX to Kotak Mahindra Bank for Rs 4,590 million, which was approved by commodity market regulator FMC.
 
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