Lead merchant banker duties require staged due diligence certifications and draft prospectus filing for IDR issues. Regulation 101 requires the issuing company to appoint merchant bankers, including a lead merchant banker, enter into a prescribed agreement, and predetermine and disclose the roles of multiple managers. The company must file a draft prospectus with the Board through a merchant banker with required fees and a prescribed soft copy. The lead merchant bankers must submit staged due diligence certificates at draft filing, Registrar filing, immediately before opening, and after opening but before closing. Mandatory collection centres must be arranged and an issue advertisement published in specified national dailies with minimum disclosures.
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Provisions expressly mentioned in the judgment/order text.
Lead merchant banker duties require staged due diligence certifications and draft prospectus filing for IDR issues.
Regulation 101 requires the issuing company to appoint merchant bankers, including a lead merchant banker, enter into a prescribed agreement, and predetermine and disclose the roles of multiple managers. The company must file a draft prospectus with the Board through a merchant banker with required fees and a prescribed soft copy. The lead merchant bankers must submit staged due diligence certificates at draft filing, Registrar filing, immediately before opening, and after opening but before closing. Mandatory collection centres must be arranged and an issue advertisement published in specified national dailies with minimum disclosures.
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