Reliance Capital Trustee Company Ltd today offloaded 2.6 per cent stake in Financial Technologies India Ltd (FTIL) for over Rs 25 crore amid a steep plunge in the company’s share price.
Individually, Reliance Capital Trustee Company sold 7.80 lakh shares of of FTIL on the National Stock Exchange, while another 4.10 lakh scrips of the company were offloaded on the BSE, as per bulk deal data available with the bourses.
These 11.91 lakh shares together constituted 2.58 per cent stake in FTIL.
The shares were sold on an average price of about Rs 212.81 valuing the transaction at Rs 25.35 crore, data showed.
As of June quarter, Reliance Capital Trustee Company held 18.70 lakh shares, amounting to 4.06 per cent stake, of FTIL.
A major crisis erupted at National Spot Exchange Ltd (NSEL) today with suspension of most trades on its platform, prompting the government to order an enquiry by the commodity regulator FMC, while SEBI also began a separate probe after a crash in shares of FTIL and MCX.
FTIL is the promoter entity for both NSEL and MCX.
FTIL scrip fell by nearly 65 per cent to close at Rs 191.75 apiece on the BSE over concerns about NSEL.
The plunge comes on the back of NSEL suspending trading of contracts, other than e-Series contracts till further notice.
Besides, as many as 37 bulk deals were witnessed in the shares of FTIL on the stock exchanges by various entities including Way2Wealth Brokers, Wellindia Securities and Adroit Financial Services.