MCS says Mahabank listing 'within time frame'

MCS Ltd, the registrar for the Rs 230 crore initial public issue of Bank of Maharashtra (BoM), yesterday said the trading of the BoM shares would begin within the prescribed time frame, putting the speculation about a probable delay in rest.

The stock market has been sceptic about timely listing of the issue after the registrar, MCS Ltd, was caught on the wrong foot for misallocation of shares of the ONGC public issue.

When contacted, MCS managing director B Narshiman discarded the rumour of a possible delay. He said:" On the contrary, we have completed the required formalities with the stock exchanges yesterday, three days before the deadline."

Under the Sebi norms, a fixed price issue gets a 30-day time to complete formalities with stock exchanges after the closing of the issue and thereafter, a seven working day's time to kickstart trading.