Multi-Commodity Exchange surges as Financial Technologies Ltd gears up to sell stake

Written by Reuters | Updated: Apr 15 2014, 19:26pm hrs
Shares in India's Multi Commodity Exchange of India Ltd surge as much as 7.5 percent after stakeholder Financial Technologies (India) Ltd said it had received nine non-binding bids in the sale of its 24 percent stake in the bourse operator.

Financial Tech did not name the prospective bidders, but said it would finalise the list of bidders by April 25, according to an exchange filing.

Shares in Financial Tech gain 1.63 percent.