Lead manager allocation of responsibilities requires designated lead manager to ensure compliance and disclose activity-wise allocations in offer document.

Lead managers must prepare and disclose an activity-wise allocation of responsibilities in the offer document, identifying responsible lead managers or, where joint responsibility exists, a designated lead manager who will furnish required information to the Board. Grouped activities include capital structuring, drafting of offer and publicity materials, selection of intermediaries, marketing and post-issue actions. The designated lead manager must ensure regulatory compliance, that intermediaries fulfil contractual obligations, and that the lead manager handling underwriting invokes underwriting obligations and issues the required devolvement notice in case of under-subscription.

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