Foreign fund house Merrill Lynch Capital Markets Espana has acquired shares worth about ₹18 crore in the Financial Technologies, promoter of the National Spot Exchange.
The spot exchange failed to settle trade worth ₹5,600 crore and is facing regulatory action for default.
On Thursday, Merril Lynch acquired 2.64 lakh shares at ₹370.07 a piece in Jignesh Shah-owned Financial Technologies for cumulative value of ₹9.77 crore in an open market transaction. Similarly, it bought 2.35 lakh shares worth ₹8 crore in open market transaction on Wednesday, according to the bulk deal information with the stock exchanges.
The stock was locked at the upper circuit of 5 per cent and closed at ₹370.
The commodity market regulator has declared Financial Technologies and Multi Commodity Exchange not fit and proper to operate a commodity exchange. The regulator also ordered Financial Technologies to bring down its stake in MCX from 26 per cent to 2 per cent.
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