Financial Technologies to sell Rs 72.9 cr worth shares to Golden Oak

Company has entered into an agreement with Golden Oak to sell its 13,64,787 equity shares

Financial Technologies (India) Limited has entered into an agreement with Golden Oak (Mauritius) Ltd to sell its 13,64,787 equity shares with a face value of Rs 10 each, of Indian Energy Exchange (IEX) to the latter for a consideration of Rs 72.89 crore.

The company today informed the National Stock Exchange that the company has entered into a share purchase agreement with Golden Oak and the sale of shares was to comply with Central Electricity Regulatory Commission (CERC) Regulations to bring down the Company's stake in IEX to 25%.

Accordingly, the Company has consummated the transaction and subsequent to this, the shareholding of the Company in IEX will be 28.49% and on fully diluted basis 25.64%, informed the company.