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Financial Technologies India Ltd (FTIL) today said it has sold an additional 1.65 lakh shares to ace investor Rakesh Jhunjhunwala for Rs 2.47 lakh in stock exchange MCX—SX, thereby completely exiting the bourse.
Last month, crisis—hit FTIL signed agreements to sell its entire 5 per cent stake, comprising of 2.7 crore equity shares and 56,24,60,000 warrants, for Rs 88.41 crore.
While equity shares were sold only to Jhunjhunwala, the warrants were divested to him and some other investors.
In a filing to the BSE, FTIL said: “The company has entered into an amendment to the share purchase and warrant agreement with Rakesh Jhunjhunwala for the sale of additional 1,65,000 equity shares for a consideration of Rs 2,47,500.”
Post completion of this transaction, the Jignesh Shah—led FTIL would completely exit MCX—SX, it added.
For sale of its entire stake in MCX—SX, FTIL on November 25 had entered into a share and warrant purchase agreement with Jhunjhunwala.
Separate warrant purchase agreements were entered with Edelweiss Commodities 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.
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