MCX Stock Exchange (MCX-SX), a subsidiary of Financial Technologies and Multi-Commodity Exchange, has sold 6.48 per cent stake in the bourse to Union Bank of India and Bank of India for Rs 87.50 crore.

The valuation of the exchange stands at Rs 1,350 crore after the current deal.

According to an official communiqué, Union Bank of India and Bank of India have picked up the stake at a premium of Rs 9 per share on the face value of Re 1.

MCX, a group company of Financial Technologies (FT), owns 51 per cent stake in MCX Stock Exchange, while FT directly owns 49 per cent stake in the stock exchange.

Apart from latest development, MCX-SX was reported in talks with some other banks to dilute another 11.52 per cent stake in the company, which could fetch it Rs 155 crore. The firm is currently awaiting permission for launching trading in equity.

Last year, MCX Stock Exchange launched trading platform for currency futures trading.