Appointment of lead managers requires registered merchant bankers, role disclosure, associate limits, and a qualified compliance officer. Issuers must appoint one or more Board registered merchant bankers as lead manager(s), disclose predetermined roles and obligations for multiple lead managers in offer documents, ensure at least one lead manager is not an associate, restrict associate lead managers to marketing, appoint other registered intermediaries after independent capability assessment, execute Schedule II format agreements without limiting statutory liabilities, appoint syndicate members or bankers to issue as applicable, select a registrar with depository connectivity (subject to prohibitions), and designate a compliance officer qualified to be a company secretary to monitor compliance and address investor grievances.