Availability of letter of offer ensures pre opening distribution to intermediaries and dispatch to existing shareholders before issue opening. Regulation 77 requires the issuer to ensure availability of the letter of offer and other issue materials, including application forms, with stock exchanges, registrar to the issue, registrar and share transfer agents, depository participants, stock brokers, underwriters, bankers to the issue, investors' associations and self certified syndicate banks before the opening of the issue, and mandates dispatch of the letter of offer with application form to existing shareholders and provision on request.