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<h1>Lead Merchant Bankers Must Ensure Due Diligence and Compliance in Public and Rights Issues Under Regulation 64.</h1> Regulation 64 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 outlines the duties of lead merchant bankers in public and rights issues. They must conduct due diligence, ensuring the accuracy and completeness of disclosures in offer documents. They are required to ensure issuers, promoters, directors, or selling shareholders meet their obligations as per the offer document and regulations. Post-issue, they remain responsible for ensuring subscribers receive securities or refunds and that listing agreements are completed. The lead merchant banker's responsibilities extend beyond the issue process's completion.