Financial Technologies sells shares worth over Rs21 crore in Indian Energy Exchange
04 Oct 2010
Financial Technologies (India) Ltd has sold shares worth around Rs21.45 crore in the Indian Energy Exchange (IEX) to certain investors.
The promoter group company sold around 1.859 million equity shares (of face value of Rs10 each) at Rs115.41 per share, the company said in a filing with the Bombay Stock Exchange (BSE).
IEX is promoted by Financial Technologies (India) Ltd, and PTC India Financial Services Limited (PFS).
PTC India Financial Services Limited (PFS) is a special purpose vehicle (SPV) of PTC India Limited (PTC) established in 2006 to provide financial services in the energy value chain. The company commenced business in May 2007.
Other prominent stake holders of IEX include Adani Enterprises, Infrastructure Development Finance Company (IDFC), Jindal Power Limited, Lanco Infratech, Reliance Energy, Rural Electrification Corporation and Tata Power Company.
Financial Technologies has leveraged its technical expertise with the commodity exchange domain knowledge and experience of its subsidiary Multi Commodity Exchange of India Ltd (MCX) to set up IEX.
IEX is India's first-ever, nationwide, automated, and online electricity trading platform. It has helped usher in a transparent and neutral market through a technology-enabled electronic trading platform.