IEX in talks with FTIL for buying out tech solutions

New Delhi:  Indian Energy Exchange is in talks with its erstwhile promoter FTIL, which is in the process of exiting the bourse, for buying out the application software and other solutions used for its trading platform.  Since its inception, the leading power exchange has been using the technology provided by Financial Technologies (India) Ltd (FTIL), whihc has been asked by the regulator CERC to complete sale of its entire stake by January 4. Last month, FTIL entered into about Rs 576-crore deal to offload its 25.64 per cent shareholding in the bourse. The stake is to be sold to a clutch of investors, including TVS Shriram Growth Fund 1.  When contacted, IEX declined to comment on the deal.