Brief: Financial Technologies India enters share purchase agreement to sell IEX shares

63 Moons Technologies

20/10/2015 14:01

Oct 20 (Reuters) - Financial Technologies (India) Ltd  FITE.NS : 
 * Entered into a share purchase agreement with Madison India opportunities III, 
   for sale of 478,834 shares if iex 
 * Consideration for 339.6 million rupees 
 * Source text: 
With reference to the earlier communications regarding Update on divestment in Indian Energy Exchange Limited (IEX) from time to time, Financial Technologies (India) Ltd has further informed BSE as under: 
 
- Without prejudice to the Company's legal rights and remedies, on October 20, 2015 the Company have, entered into a Share Purchase Agreement (SPA) with Madison India Opportunities III, for sale of 4,78,834 (i.e. 1.58% stake in IEX on fully diluted basis) equity shares of Rs. 10/- each of IEX for an aggregate consideration of Rs. 33.96 crores. 
 
The said transaction is subject to fulfillment of certain condition precedents. 
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