Underwriting restrictions: issuers must appoint registered merchant bankers or stock brokers and exclude promoters from underwriting coverage. Regulation 81 requires an issuer electing underwriting to appoint merchant bankers or stock brokers registered with the Board as underwriters, and limits ... Summary
Underwriting restrictions: issuers must appoint registered merchant bankers or stock brokers and exclude promoters from underwriting coverage.
Regulation 81 requires an issuer electing underwriting to appoint merchant bankers or stock brokers registered with the Board as underwriters, and limits underwriting to the entitlement of shareholders excluding the promoters and promoter group; earlier references to underwriters regulations and to lead manager minimum underwriting obligations have been replaced and omitted respectively by later notifications.
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