Financial Technologies (India) (FTIL), a provider of technology solutions for financial markets, witnessed a rise in share price on Friday after the company has concluded the sale of balance 5% equity stake in Indian Energy Exchange (IEX) on fully diluted basis.

The company has sold 3.02% stake to Siguler GUFF NJDM Investment Holdings, 1.61% stake to SG BRIC III Trading, LLC and 0.37% stake to Madison India Opportunities III.

With the the above transactions, the company has completed the sale of its entire 25.64% stake in IEX on fully diluted basis and accordingly the holding of company in IEX is NIL.

Axis Capital was the Investment Banker and the Principal Financial Advisor to the transaction. Other Advisor to the transaction was Centrum Capital while the Legal Advisor to the transaction was J Sagar Associates.

Shares of the company are trading at Rs 103.00, up Rs 2.9, or 2.90% at the Bombay Stock Exchange (BSE) on Friday at 9:57 a.m.

Total volume of shares traded on the bourses today was lower by 42.86% to 156,234 compared with 22-day average volume of 273,446.