The Hindu Business Line : Financial Tech to buy majority stake in IBS Forex

FINANCIAL Technologies (India) Ltd today told the BSE it is considering acquiring a controlling stake in IBS Forex Pvt Ltd, which runs FX DIRECT, a currency trading platform for interbank foreign exchange trading.

The company's board is to meet tomorrow to consider this proposal.

The board will also consider a proposal to raise funds for financing the company's expansion and diversification plans through issue of equity shares on preferential basis to foreign institutional investors as per SEBI guidelines.

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