ISSUE OF SPECIFIED SECURITIES BY SMALL AND MEDIUM ENTERPRISESSecurities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009
ISSUE OF SPECIFIED SECURITIES BY SMALL AND MEDIUM ENTERPRISESSecurities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009
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 ... Summary
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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