Multi Commodity Exchange files paper for IPO

MUMBAI (Reuters) - Financial Technologies India Ltd said on Monday its unit Multi Commodity Exchange of India has filed an offer document with the market regulator for an initial public offer.

Last week, the exchange sold its 5 percent stake to NYSE Euronext for $55 million.

Financial Technologies holds about 32 percent stake in the commodity exchange after the sale to NYSE Euronext, according to the exchange's Chief Executive Jignesh Shah.

Ahead of the announcement, Financial Technologies shares ended almost flat at 2,186.15 rupees.