Wednesday, November 26, 2014

FTIL’s most recent accord with Jhunjhunwala, exiting MCX-SX

Crossing the thresholds, departing MCX-SX, FTIL entered a pact with Rakesh Jhujhunwala, selling its stake and warrants in stocks bourse to the latter.

Expressively, a share and warrant purchase agreement was entered into,  with Dr. Rakesh Jhunjhunwala; whilst separate warrant purchase agreements were moved in by FTIL, with M/s. Edelweiss Financial Services Limited, M/s. Trust Investment Advisors Pvt. Ltd. Ms. Viral A. Parikh, M/s. Nemish S. Shah H.U.F., M/s. Derive Investments, Mr. Kalpraj Dharamshi, Mr. Dhanesh Sumatilal Shah, Mr. Uday Shah, Ms. Madhuri Kela, Ms. Renuka Shah, M/s. SKS Capital & Research Pvt. Ltd. and Ms. Madhu Vadera Jayakumar for sale of its 100% stake in MCX-SX comprising 2,70,00,000 equity shares and 56,24,60,000 warrants for an aggregate consideration of Rs. 88.419 crore.

Rakesh jhunjhunwala, a billionaire investor, had earlier purchased stock of MCX - close to 2%, earlier this year, now purchased stock of MCX-SX, thus enabling FTIL to exit MCX-SX entirely. FTIL divested all of MCX-SX stock, which took place on 26 November, 2014. 

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