Coordination with intermediaries ensures merchant bankers monitor application processing and report intermediary lapses post-issue. The post-issue merchant banker must maintain close coordination with registrars and intermediaries to monitor application flow and ASBA processing, ensure despatch of securities and refunds, and oversee listing formalities until allotment is finalised. The banker must report any intermediary omissions or commissions to the Board, issue devolvement notices to underwriters within ten days of closure when devolvement occurs, report underwriter defaults in the prescribed format for undersubscribed issues, and confirm completion of formalities to bankers by supplying listing and trading approvals so funds may be released or refunded.