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of <h1>Lead Managers Must Distribute Offer Documents to Key Stakeholders Before Issue Opens Under Regulation 195, SEBI Guidelines.</h1> Regulation 195 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 mandates that lead managers must ensure the availability of the offer document and related issue materials, such as application forms, to various stakeholders. These stakeholders include stock exchanges, syndicate members, registrars to the issue, registrar and share transfer agents, depository participants, stock brokers, underwriters, bankers to the issue, investors' associations, and self-certified syndicate banks. This must be done before the opening of the issue to facilitate the smooth dissemination of information and participation in the issuance process.
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