The Hindu Business Line : Names of banned applicants in ICICI Bank issue removed

A SCRUTINY of the applicants to the ICICI Bank issue has yielded the names of three or four investors who are among the 13 individuals and entities banned by SEBI from trading in YES Bank shares yesterday.

These names have been removed from the list of applicants pending investigation, according to sources in SEBI.

As soon as SEBI issued the ban, registrars to the ICICI Bank issue Karvy Computershare ran a search on the applicants; this threw up three or four names from the banned list, confirmed an official.

The 13 banned investors had manipulated allotment of shares in YES Bank by opening over 7,500 benami depository accounts, and made gains on the first trading day of the IPO.

This is significant because the ICICI Bank issue is expected to list on Monday.

In fact, the allotment and delivery of shares was to be done today, according to an earlier statement from the bank.

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