FTIL completes sale of NBHC stake to IVF for Rs 241.74 crore

Tags: News
Financial Technologies, which has been looking to raise funds by selling non-core assets, today said it completed the sale of its entire stake in subsidiary National Bulk Handling Corporation (NBHC) to IVF Trustee Company for Rs 241.74 crore.

NBHC, a warehousing and collateral management company, has a pan-India presence and operates 569 storage facilities with a capacity of over 1.47 million tonnes.

"The transaction relating to sale of NBHC to IVF Trustee Company has been completed," FTIL said in a filing to the BSE.

IVF Trustee Company is the sole trustee of India Value Fund Advisors, which was established in 1999 by Vishal Nevatia. India Value Fund Advisors has four investment funds with a combined corpus of over USD 1.2 billion. Since inception, it has invested in 26 companies.

FTIL runs several exchanges, including the country's largest commodity exchange MCX and the MCX Stock Exchange. It's been facing problems due to a Rs 5,600 crore payment crisis at group firm National Spot Exchange Ltd.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • India’s festivals teach us to share our wealth and joy

    India is an aporia in its own true sense.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Zehra Naqvi

How smells evoke strong memories

Remember that time when a passing fragrance transported you to ...

Dharmendra Khandal

Indian zoos need a fresh approach

Recently, when a man jumped in a tiger trench of ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture