The Hindu Business Line : MCS withdraws from ICICI Bank, Datamatics

AFTER the allotment fiasco in the recently concluded ONGC issue, MCS, the registrar to ONGC issue, has withdrawn from ICICI Bank's issue, which opened today, and the upcoming IPO of Datamatics Technologies Ltd.

While ICICI Bank has appointed Karvy Computershare Private Ltd in MCS' place for Rs 3,050-crore public offering, Datamatics Technologies has appointed the Mumbai-based, Intime Registrar.

According to a BSE notice posted by ICICI Bank, MCS Ltd has withdrawn as registrar to the ICICI Bank issue, hence the bank has appointed Karvy Computershare Private Ltd. Datamatics Technologies, an unlisted company, will come out with its Rs 100-crore IPO on April 12-19.

The Mumbai-based MCS is being held responsible for the over-allotment of ONGC shares in the high net worth individual category. SEBI is yet to find a solution to compensate the loss suffered by ONGC shareholders, who on Monday sold shares in excess of what they were allotted. Meanwhile, uncertainty prevails over the listing of shares of Power Trading Corporation since MCS was the registrar to its issue as well. The listing has already been twice postponed. The PSU had floated a Rs 58.5 crore IPO in early March.

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MCS withdraws from ICICI Bank, Datamatics