 "Sebi relaxes lock in norms for FTIL's 1.99% stake in MCX")
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Financial Technologies has got the stock markets regulator's nod and has relaxed the lock in norm for it's 1.99% stake it still holds in Multi Commodity Exchange. This will help FTIL also sell the remaining 1.99% stake it holds in MCX.
Earlier, Securities Exchanges Board of India had relaxed the lock in norm so that Kotak Mahindra Bank could buy FTIL's 15% stake in MCX. Earlier, Sebi relaxed lock in norms for FTIL's 18% stake in MCX.
This will help FTIL to sell the remaining five% stake which it holds in MCX.
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