Fin Tech to sell 9.55% stake in MCX
Financial Technologies India (FTIL), the key promoter of Multi Commodity Exchange (MCX), has decided to sell 3.55%, 5% and 1% equity stake to ICICI, IL&FS, Kotak, respectively, at an enterprise value of $1-1.1 billion.
The stake sale will bring down FTIL’s stake in MCX to 40.45%.
Jignesh Shah, managing director & CEO, MCX, said: "This milestone is a testimony of the quality of the institution we have built in and from India where the global and domestic best have converged."
Some of the other shareholders in MCX include Merrill Lynch, Citigroup, Fidelity International and State Bank of India
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