FTIL-NSEL swap ratio finalised

The government has finalised the share swap ratio for the proposed merger of crisis-hit NSEL with its parent Financial Technologies, which itself will not get any share. With regard to creditors, the ministry said their rights would be the same in the merged entity as they are now in NSEL. Under the swap ratio, decided by the ministry, NSEL shareholders would get three shares of FTIL for every eight shares held in spot bourse.