In compliance to CERC regulations
Financial Technologies (India) has announced that on 24 March 2014 the Company has entered into a Share Purchase Agreement (SPA) for sale of 13,64,787 equity shares (face value of Rs 10 each) of lndian Energy Exhange (IEX) to Golden Oak (Mauritius), for a consideration of Rs 72.89 crores.The abovesaid sale of shares was to comply with Central Electricity Regulatory Commission (CERC) Regulations to bring down the Company's stake in IEX to 25%.
Subsequent to the above said transaction, the shareholding of the Company in IEX will be 28.49% and on fully diluted basis 25.64%.
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