Date:09/11/2006 URL: http://www.thehindubusinessline.com/2006/11/09/stories/2006110904871800.htm

Back Financial Tech's M&A plans

Our Bureau

Mumbai, Nov. 8

Financial Technologies is scouting for merger and acquisition opportunities and plans to raise $ 200 million through equity to fund its expansion, if any, in the next six to seven months, said Mr Jignesh Shah, Chairman and Managing Director, Financial Technologies and MD and CEO, Multi Commodity Exchange.

Addressing a news conference on Wednesday , Mr Shah clarified that the proposed IPO of commodity bourse MCX (Multi Commodity Exchange) has not hit a roadblock. "We will roll out the Rs 330-crore IPO immediately after the Government allows foreign institutional investment in commodity futures," he added. Mr Shah added that Financial Technologies is going for a major expansion in its services model without giving any details.