FTIL looking to exit Indian Energy Exchange

Financial Technologies has appointed a banker for the sale of its stake in Indian Energy Exchange, a power trading platform, the company said in a filing on the Bombay Stock Exchange. FTIL owns 24.89% stake in IEX and is looking to exit it.

"FTIL would like to exit from exchanges businesses. Accordingly, the process of divestment in exchanges is been evaluated considering all options including through IPO. Accordingly, FTIL has appointed investment bankers to sell its stake in IEX as mentioned in the news article," the company said in a statement issued on the exchange.