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Has Financial Technologies sold warrants that it did not hold in MCX Stock Exchange? According to the latest shareholding pattern (September) of MCX-SX, FTIL holds nil warrants.
MCX-SX had on August 14 extinguished FTIL’s 562,460,000 warrants after taking legal opinion. However, according to sources, FTIL has contested the legality of the MCX-SX move at the Securities Appellate Tribunal.
On Tuesday, FTIL said it has entered into an agreement to sell its entire stake and warrants in MCX-SX for ₹88 crore.
It had signed a pact with a group of 12 individuals and companies, including Edelweiss Financial Services, Trust Investment Advisors, Viral A Parikh, Nemish S Shah, Derive Investments, Kalpraj Dharamshi, Dhanesh Sumatilal Shah, Uday Shah, Madhuri Kela, Renuka Shah, SKS Capital & Research and Madhu Vadera Jayakumar to offload the warrants.
Reacting to Tuesday’s sale, the shares of FTIL rose 4.5 per cent on Wednesday on the bourses.
Responding to a query from BusinessLine , FTIL said: “We cannot comment on any matter that is sub-judice before the Securities Appellate Tribunal and SEBI.”
Saurabh Sarkar, Managing Director, MCX-SX, did not respond to calls or the questionnaire sent by BusinessLine .
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