Inter-se allocation of responsibilities assigns lead merchant bankers and a designated coordinator accountability for issuance activities and compliance.

Inter-se allocation requires lead merchant bankers to delineate and sign activity-wise responsibilities and notify the Board at draft offer filing; a designated lead merchant banker must coordinate joint responsibilities and furnish information to the Board. Grouped activities include capital structuring, offer document drafting and publicity, agency selection, marketing, and post-issue tasks. The designated lead merchant banker is responsible for regulatory compliance and ensuring intermediaries fulfil obligations via agreements; the lead banker for underwriting must invoke underwriting obligations and issue devolvement notices when under-subscription occurs.

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