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of <h1>SEBI Guidelines: Lead Merchant Bankers Must Ensure Due Diligence, Submit Compliance Documents, and Define Roles Among Multiple Bankers.</h1> The pre-issue obligations under SEBI's Disclosure and Investor Protection Guidelines require the lead merchant banker to exercise due diligence in verifying the offer documents' accuracy and completeness. The banker must pay fees as per regulations and ensure the availability of Applications Supported by Blocked Amount for investors. A Memorandum of Understanding between the banker and issuer is mandatory, outlining responsibilities. Multiple merchant bankers must clearly define their roles. Due diligence certificates and various compliance documents must be submitted to SEBI. The guidelines also cover the appointment of intermediaries, underwriting obligations, public availability of offer documents, and advertisement requirements.
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