New Delhi: Financial Technologies India Ltd (FTIL) said it has entered into a new share purchase agreement with four companies to sell 16.6 per cent stake in Indian Energy Exchange Ltd (IEX) for Rs 357.06 crore. The earlier agreement that was signed on November 5, 2014 “stands terminated” and the new agreement will be closed within 60 days, subject to certain technology-related conditions and regulatory approvals, it said in a BSE filing. FTIL is divesting its stake in IEX following the direction from regulator Central Electricity Regulatory Commission’s (CERC) in May last year in the wake of the Rs 5,600 crore payment scam at FTIL’s group firm NSEL. FTIL owns nearly 26 per cent stake in the energy bourse.
FTIL signs new pact to sell 16.6% stake in IEX for Rs 357 cr
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