Financial Technologies (India) announced with reference to the MCX announcement today about possibility of considering preferential allotment of MCX shares, FTIL being a holder of 26% shares in MCX, has not received such communication and the board of the company will take necessary legal action in the interest of its 65,000 plus shareholders.
"The timing of the announcement by MCX on preferential issue is when MCX is fully aware that FTIL has initiated action to divest its stake upto 24%. Such move is vindictive in nature to support certain vested interest and deprive FTIL of its level playing field to sell its shares," FTIL said.
"It has to be noted that before the final decision by the High Court is taken as to whether FMC is right in declaring FTIL is fit and proper or not, FTIL cannot be legally deprived of its rights," it said.
"Without prejudicing our rights, FTIL has already announced its commercial decision to divest its equity holding in MCX and received good response from various global and local investors as initial expression of interests. It appears that the move by MCX Board is an attempt to derail FTIL's move to divest its equity in fair and transparent manner. FTIL sees such move with a clear agenda of depriving FTIL of its propriety rights at any cost," it added.
Shares of the company declined Rs 1.65, or 0.44%, to settle at Rs 373.35. The total volume of shares traded was 203,452 at the BSE (Monday).