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| Exchange Disseminated Time | Financial Technologies (India) Ltd has informed BSE that the Company on November 05, 2014, entered into a Share Purchase Agreement (SPA) with M/s. TVS Shriram Growth Fund 1, Mr. S. Gopalkrishnan, Mr. Lakshmi Narayanan, Mr. Rajeev Gupta, M/s. Dalmia Cement Bharat Power Ventures Limited, M/s. Kiran Vyapar Limited, M/s. TVS Capital Funds Limited and M/s. Agri Power and Engineering Solutions Private Limited for sale of 25.64% equity stake on a fully diluted basis in IEX for an aggregate consideration of Rs. 576.84 Crores.
The said transaction is subject to fulfillment of certain condition precedents including buyout of the application software and other technology for its own use only by IEX and regulatory approvals, if any. As per the SPA, the transaction will close within 30 days, unless extended by all the parties.
Post completion of the above said transaction, the Company would have completely exited IEX. |
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