Shares of Financial Technologies rallied 11 percent in early trade on Tuesday after the company sold 100 percent stake in Singapore Mercantile Exchange (SMX) for USD 150 million. The rally in shares is in addition to 20 percent upmove seen in previous session. Financial Technologies Singapore Pte Ltd, (FTSPL), a wholly owned subsidiary of Financial Technologies (India) (FTIL) announced “the sale of 100 percent of its equity ownership in SMX (together with its wholly owned subsidiary SMX CC) to ICE Singapore Holdings Pte Ltd, an entity owned by the Intercontinental Exchange Group, Inc. (NYSE: ICE) for USD 150 million.” FTIL says it will primarily utilise the amount towards repayment of outstanding debt towards external commercial borrowings (ECB) and foreign currency loan (FCL) to banks. “The company will become debt-free post Singapore bourse stake sale,” FTIL said in its filing to the BSE. However, the money from SMX stake sale will not be used to repay NSEL investors, reports CNBC-TV18 quoting sources. At 09:47 hours IST, the stock was trading at Rs 191.95, up 5.87 percent while Multi Commodity Exchange of India gained 2 percent to Rs 523 on the BSE.