Financial Technologies (India), a provider of technology solutions for financial markets, announced it has entered into a new share purchase agreement with four companies to sell 16.6% stake in Indian Energy Exchange (IEX) for Rs 3.57 billion.

DCB Power Ventures, Kiran Vyapar, Agri Power and Engineering Solutions and Aditya Birla Capital Advisors have signed agreement to purchase stake. As per the new SPA, transaction will close within 60 days from its execution, unless extended mutually by all the parties.

Shares of the company declined Rs 6.5, or 4.01%, to settle at Rs 155.40. The total volume of shares traded was 224,845 at the BSE (Friday).