Fin Technologies 'refunds' Rs 180cr to IFCI in MCX-SX deal

Financial Technologies India on Wednesday said that it was repaying Rs 179.69 crore to financial institution IFCI under the terms of the deal for the 5% stake in MCX-SX. In July 2009, IFCI had paid Rs 251.56 crore for a 5% stake in MCX-SX, the stock exchange promoted by Financial Technologies.

"The said sale was subject to a customary price reset, pursuant to which the excess amount of Rs 179.69 crores has been repaid to the Purchaser," Financial Technologies said in a  filing to the National Stock Exchange.
The company did not mention IFCI as the purchaser in the filing, but an official confirmed to Moneycontrol.com that the buyer was the domestic financial institution.
Financial Technologies was trading marginally down at Rs 833.65 per share.
In September last year, the Securities and Exchange Board of India struck down MCX-SX