MCS Ltd Company Summary

MCS Ltd Summary

Incorporated as a public limited company on 26 Apr.85 by Arun Agarwal as MAS Computer Services, MCS acquired its present name in Aug.87. Initially, the company commenced business in a small way in Delhi, as registrars and transfer agents to small companies which were not in a position to have full-fledged secretarial and share department by using personal computers. Over a period of time, the business of the company expanded by serving reputed companies like Modi Cements, Raymond Synthetics, etc. It installed its first advanced computer -- DG MV 7800, a mainframe, at Delhi, to cater to the increased business. Later on, a branch office was also opened in Mumbai.In 1990, the company acted as registrars to the UTI for their scheme. It expanded its office network by opening branches at Baroda, Calcutta, Madras, Pune and Surat. Its clients in the public sector are UTI, IFCI, ICICI, CMC, Gujarat Industries Power Company, ONGC, Sardar Sarovar Narmada Nigam, etc. At present the company is acting as registrars to around 80 companies and 14 schemes of Unit Trust of India.The company became a category-I registrar and share transfer agent with the SEBI in Aug.94. In 1995, it acquired premises and equipment to cater to the increasing business. It came out with a rights issue in Dec.95 to part-finance its project. In the third quarter of 1996, the company tied up with the largest satellite communication service providers to render on-line service to its corporate clients and investors through VSATs. It also diversified into data processing, other than share related activities. International Air Transport Association (IATA) has awarded the contract for their Billing and Settlement Plan on all India basis to the company. IATA has 1200 accredited agents in India with 32 international airlines servicing the country.During 1996-97, Share Capital of the company has increased to Rs. 331 lacs. The Company has allotted 452330 shares on 28th June 1996, to those warrant holders who had exercised the option to convert their first detachable warrant certificates which were issued in the year 1995, along with 17% 800000 Secured Redeemable Non- Convertible Debentures of Rs.75/- each agreegating to Rs. 600 lacs.For the first time the company had entered into niche area of handling Open Ended Mutual Funds.It has also developed Software in-house for handling Mutual Fund Schemes.The company has decided to enter into a Strategic-Alliance with ABN-Amro Bank N V. During 2001-02 the company had handled 21 issues including Bond issues,Public issues,Right issues and 8 Bond Issues of ICICI.The company ceased to act as an Registrar for all schemes of UTI.