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E-mail ID will not be published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

  • For those who are left to survive a war-torn world, let there be peace

    The hunger games have begun, and they have started reaping our children. There is no way around it.

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

Urs Schöttli

Shifting sands in the Far East

As was to be expected, Japanese prime minister Shinzo Abe ...

Zehra Naqvi

When humanity died, bestiality prevailed

The terrorist attack that killed 132 children in Peshawar has ...

Bubbles Sabharwal

Why self-esteem must be your best friend forever

Two negatives do make a positive! Imagine no doubts, no ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture