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<h1>Issuers May Market to Qualified Institutional Buyers Before SEBI Observations Under New Guidelines</h1> An issuer can interact with qualified institutional buyers for limited marketing of an intended issue from the pre-filing of the draft offer document until the Securities and Exchange Board of India (SEBI) provides observations on the document. This interaction is limited to the information in the pre-filed draft offer document. The issuer and lead managers must list the qualified institutional buyers involved in these interactions and confirm the closure of these interactions to SEBI.