Post this transaction, the company's stake in ICEX, which is part of Anil Ambani-led Reliance Group, has come down to 16 per cent.
Bharti Airtel group veteran Akhil Gupta and another Delhi-based investor, Vijay Sharma of BN Enterprises, have bought five per cent each in ICEX in personal capacity from MMTC.
"With reference to the earlier communication dated September 21, 2015, MMTC has now informed BSE that pursuant to approval of the Board/Government, MMTC has divested its 10 per cent equity stake in its JV company i.E. ICEX...
The necessary transfer of shares to the bidders took place on January 19, 2016, it added.
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