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of <h1>Issuers Must Engage Credit Rating Agency for Monitoring Proceeds if Issue Exceeds 100 Crore, Excludes Certain Entities.</h1> If the issue size exceeds one hundred crore rupees, excluding the offer for sale by selling shareholders, the issuer must arrange for a credit rating agency to monitor the use of proceeds. This requirement does not apply to issues by banks, public financial institutions, or insurance companies. The monitoring agency must report quarterly to the issuer until all proceeds are utilized. The issuer's board and management must comment on these findings, and the issuer must upload the report to its website and submit it to the stock exchanges within forty-five days of each quarter's end.
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